KeyCorp (NYSE:KEY) Short Interest Update

KeyCorp (NYSE:KEY) saw a large growth in short interest during the month of 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 days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Truist Financial initiated coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target for the company. Finally, DA Davidson reduced their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Stock Up 1.8 %

KeyCorp stock traded up $0.32 during midday trading on Tuesday, hitting $17.79. 2,120,010 shares of the stock were exchanged, compared to its average volume of 13,144,451. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a 50 day moving average price of $17.89 and a two-hundred day moving average price of $17.21. The firm has a market cap of $17.63 billion, a P/E ratio of -59.21, a P/E/G ratio of 0.66 and a beta of 1.26. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a yield of 4.61%. KeyCorp’s dividend payout ratio (DPR) is presently -273.32%.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the firm’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 value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently made changes to their positions in KEY. Union Bancaire Privee UBP SA bought a new position in KeyCorp during the 4th quarter valued at $1,849,000. Callan Capital LLC bought a new stake in shares of KeyCorp in the 4th quarter valued at approximately $175,000. Bradley Foster & Sargent Inc. CT lifted its stake in KeyCorp by 4.0% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 51,780 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 2,000 shares during the last quarter. Handelsbanken Fonder AB increased its stake in KeyCorp by 59.9% during the fourth quarter. Handelsbanken Fonder AB now owns 236,553 shares of the financial services provider’s stock valued at $4,055,000 after purchasing an additional 88,657 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of KeyCorp by 1.3% during the fourth quarter. Private Advisor Group LLC now owns 153,783 shares of the financial services provider’s stock worth $2,636,000 after purchasing an additional 1,985 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

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.