Bank of Nova Scotia Sells Shares of KeyCorp

On June 16, 2026, Bank of Nova Scotia sold 277,182 shares of KeyCorp, a regional bank holding company, at an average price of $22.13. The transaction was valued at approximately $6.13 million. This move was not part of a pre-planned trading program.

What Changed in Bank of Nova Scotia's KeyCorp Position

Bank of Nova Scotia reduced its holdings in KeyCorp by selling 277,182 shares. This sale was part of a series of transactions by the bank, which included earlier sales of 355,338 shares on June 9 and 162,692 shares on May 27.

Other Institutional Activity in KeyCorp

Several other institutional investors have also adjusted their positions in KeyCorp. Bank of Nova Scotia itself increased its holdings by 900,951 shares, ending with 162,996,326 shares worth about $3.27 billion. BlackRock, Inc. reduced its position by 5,372,533 shares, holding 88,722,677 shares valued at approximately $1.78 billion. State Street Corp added 998,231 shares, bringing its total to 47,130,435 shares worth $944.97 million. Meanwhile, FMR LLC significantly increased its holdings by 4,259,261 shares, reaching 46,734,944 shares valued at $937.04 million.

KeyCorp Stock Up 3.8%

Shares of KeyCorp (NYSE:KEY) traded around $22.42. The company has a market cap of approximately $24.2 billion and a P/E ratio of 13.75. The stock's 52-week range is between $15.66 and $23.35, with a 50-day moving average of $21.60 and a 200-day moving average of $20.13. KeyCorp's beta is 1.041, indicating moderate volatility relative to the market.

Recent Earnings

KeyCorp reported revenue of about $7.2 billion, with a revenue growth rate of 11.8%. The company's net margin stands at 27.02%, and it has a return on equity of 9.98%. The next earnings report is expected on July 21, 2026.

Dividend

KeyCorp offers an annual dividend rate of $0.82 per share, yielding 3.66%. The dividend payout ratio is 50.31%, reflecting the portion of earnings paid out as dividends.

Insider Buying and Selling at KeyCorp

Alongside the significant sales by Bank of Nova Scotia, Elizabeth Gile sold 23,946 shares on June 3 at an average price of $20.88. Additionally, Robin Hayes bought 7,352 shares on May 14, although the transaction price was not provided.

Analysts Set New Price Targets

On June 15, 2026, Stephens & Co. reinstated its 'buy' rating on KeyCorp with a price target of $26. Other firms like DA Davidson and Evercore ISI Group have maintained 'buy' ratings with targets of $27 and $26, respectively. The consensus among analysts is a 'buy' rating with an average price target of $25.01.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio. It operates through KeyBank National Association, providing a range of retail and commercial banking services across the United States. The company is led by CEO Christopher Marrott Gorman and employs approximately 17,469 people. KeyCorp offers products and services including personal finance, investment management, and commercial banking.

Bottom Line

Bank of Nova Scotia's recent sale of KeyCorp shares is a notable transaction in the financial sector. Investors keep a close eye on such insider activity for potential market signals. It's important to remember that these insider transactions are reported after they occur, providing a historical view rather than real-time insights.