KeyBank 2014 Annual Report Download - page 82

Common shares outstanding
Our common shares are traded on the New York Stock Exchange under the symbol KEY with 28,673 holders of
record at December 31, 2014. Our book value per common share was $11.91 based on 859.4 million shares
outstanding at December 31, 2014, compared to $11.25 based on 890.7 million shares outstanding at
December 31, 2013. At December 31, 2014, our tangible book value per common share was $10.65, compared to
$10.11 at December 31, 2013.
Figure 45 in the section entitled “Fourth Quarter Results” shows the market price ranges of our common shares,
per common share earnings, and dividends paid by quarter for each of the last two years.
Figure 27 compares the price performance of our common shares (based on an initial investment of $100 on
December 31, 2009, and assuming reinvestment of dividends) with that of the Standard & Poor’s 500 Index and a
group of other banks that constitute our peer group. The peer group consists of the banks that make up the
Standard & Poor’s 500 Regional Bank Index and the banks that make up the Standard & Poor’s 500 Diversified
Bank Index. We are included in the Standard & Poor’s 500 Index and the peer group.
Figure 27. Common Share Price Performance (2010 – 2014) (a)
(a) Share price performance is not necessarily indicative of future price performance.
Figure 28 shows activities that caused the change in our outstanding common shares over the past two years.
Figure 28. Changes in Common Shares Outstanding
2014 Quarters
in thousands 2014 Fourth Third Second First 2013
Shares outstanding at beginning of period 890,724 868,477 876,823 884,869 890,724 925,769
Common shares repurchased (36,285) (9,786) (8,830) (7,824) (9,845) (41,599)
Shares reissued (returned) under employee benefit plans 4,964 712 484 (222) 3,990 6,554
Shares outstanding at end of period 859,403 859,403 868,477 876,823 884,869 890,724
At December 31, 2014, we had 157.6 million treasury shares, compared to 126.2 million treasury shares at
December 31, 2013. During 2014, common shares outstanding decreased by 31 million shares from share
repurchases under our 2013 and 2014 capital plans and the net activity in our employee benefit plans. Going
forward, we expect to reissue treasury shares as needed in connection with stock-based compensation awards and
for other corporate purposes.
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