KeyCorp (NYSE:KEY) Short Interest Down 7.7% in November

KeyCorp (NYSE:KEY) was the target of a large decrease in short interest in the month of 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 short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

KEY has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wedbush increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Robert W. Baird cut 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 report on Monday, October 14th. Finally, Royal Bank of Canada increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $18.56.

KeyCorp Price Performance

Shares of KEY traded down $0.11 during trading hours on Tuesday, reaching $18.79. The stock had a trading volume of 8,780,814 shares, compared to its average volume of 13,634,064. The stock has a market capitalization of $18.63 billion, a PE ratio of 1,879.00, a PEG ratio of 1.05 and a beta of 1.25. KeyCorp has a 12 month low of $12.76 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day moving average is $17.92 and its two-hundred day moving average is $16.17.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Research analysts expect that KeyCorp will post 1.09 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s payout ratio is currently 8,200.00%.

Insider Activity at KeyCorp

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

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC lifted its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC acquired a new position in shares of KeyCorp during the 3rd quarter valued at $28,000. Larson Financial Group LLC boosted its stake in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in KeyCorp in the third quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp in the third quarter worth $38,000. Institutional investors own 79.69% of the company’s stock.

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.