KeyCorp (NYSE:KEY) Sees Significant Growth in Short Interest

KeyCorp (NYSE:KEY) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 18,530,000 shares, a growth of 8.0% from the December 31st total of 17,150,000 shares. Based on an average daily volume of 9,510,000 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

KEY has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday. DA Davidson reduced their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.69.

KeyCorp Stock Down 2.6 %

Shares of KEY opened at $17.51 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. KeyCorp has a fifty-two week low of $13.10 and a fifty-two week high of $20.04. The firm’s 50 day moving average price is $17.89 and its 200 day moving average price is $17.21.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.32%.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KEY. Financial Advocates Investment Management raised its position in KeyCorp by 2.3% in the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 602 shares in the last quarter. HM Payson & Co. raised its holdings in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 650 shares in the last quarter. Graypoint LLC lifted its stake in KeyCorp by 4.7% in the third quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 675 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in KeyCorp by 2.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 679 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of KeyCorp by 5.7% in the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 692 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Company Profile

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.