KeyCorp (NYSE:KEY) Short Interest Update

KeyCorp (NYSE:KEY) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 17,580,000 shares, a growth of 13.8% from the October 15th total of 15,450,000 shares. Based on an average daily trading volume, of 12,060,000 shares, the days-to-cover ratio is presently 1.5 days.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the stock. Freestone Capital Holdings LLC purchased a new stake in shares of KeyCorp in the 1st quarter valued at $561,000. Assenagon Asset Management S.A. boosted its position in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after buying an additional 610,688 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after buying an additional 85,052 shares during the last quarter. MBB Public Markets I LLC purchased a new position in shares of KeyCorp in the second quarter worth about $981,000. Finally, Cetera Investment Advisers lifted its stake in shares of KeyCorp by 274.4% in the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after acquiring an additional 243,437 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KEY. Evercore ISI raised their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday. Barclays upped their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp Price Performance

Shares of NYSE KEY remained flat at $19.16 during trading on Monday. The stock had a trading volume of 1,741,757 shares, compared to its average volume of 13,880,755. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $18.99 billion, a PE ratio of 1,916.00, a P/E/G ratio of 1.05 and a beta of 1.24. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The firm has a 50-day moving average of $17.23 and a 200-day moving average of $15.82.

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

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.