KeyCorp (NYSE:KEY) Short Interest Update

KeyCorp (NYSE:KEY) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 16,230,000 shares, a decrease of 7.7% from the October 31st total of 17,580,000 shares. Based on an average trading volume of 10,250,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently bought and sold shares of the business. Azora Capital LP bought a new stake in shares of KeyCorp in the 3rd quarter worth about $92,413,000. Assenagon Asset Management S.A. increased its holdings in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after buying an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC raised its stake in KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after acquiring an additional 2,900,971 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Down 1.9 %

Shares of KEY traded down $0.37 during mid-day trading on Monday, reaching $19.11. 10,047,287 shares of the stock traded hands, compared to its average volume of 13,654,982. The stock has a fifty day simple moving average of $17.88 and a 200 day simple moving average of $16.15. KeyCorp has a 12-month low of $12.76 and a 12-month high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market cap of $18.94 billion, a price-to-earnings ratio of 1,911.00, a P/E/G ratio of 1.07 and a beta of 1.25.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KEY shares. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $18.26.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.