Short Interest in KeyCorp (KEY) Grows By 34.0%
KeyCorp (NYSE:KEY) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 15,926,138 shares, an increase of 34.0% from the October 31st total of 11,884,290 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 10,890,786 shares, the short-interest ratio is currently 1.5 days.
A number of equities analysts have commented on the stock. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer reaffirmed a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a research note on Wednesday, September 27th. Wells Fargo & Company assumed coverage on shares of KeyCorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 target price for the company. Finally, Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.97.
Shares of KeyCorp (NYSE:KEY) opened at $19.13 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market cap of $20,570.00, a P/E ratio of 14.01, a P/E/G ratio of 1.68 and a beta of 1.10. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.53.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. KeyCorp’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. analysts predict that KeyCorp will post 1.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s payout ratio is 36.52%.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares in the company, valued at $455,549.47. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Paul N. Harris sold 2,758 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of KEY. ING Groep NV increased its stake in KeyCorp by 2.5% in the second quarter. ING Groep NV now owns 56,104 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 1,372 shares in the last quarter. Parkwood LLC increased its stake in KeyCorp by 3.9% in the second quarter. Parkwood LLC now owns 17,744 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 666 shares in the last quarter. NGAM Advisors L.P. increased its stake in KeyCorp by 11.4% in the second quarter. NGAM Advisors L.P. now owns 248,447 shares of the financial services provider’s stock valued at $4,656,000 after purchasing an additional 25,387 shares in the last quarter. IBM Retirement Fund increased its stake in KeyCorp by 122.0% in the second quarter. IBM Retirement Fund now owns 26,646 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 14,641 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in KeyCorp by 1,684.8% in the second quarter. Harbour Capital Advisors LLC now owns 18,740 shares of the financial services provider’s stock valued at $1,000,000 after purchasing an additional 17,690 shares in the last quarter. 81.23% of the stock is owned by institutional investors and hedge funds.
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KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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