Short Interest in KeyCorp (KEY) Expands By 20.1%
KeyCorp (NYSE:KEY) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 17,803,214 shares, a growth of 20.1% from the November 30th total of 14,818,392 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 11,426,518 shares, the days-to-cover ratio is presently 1.6 days.
KeyCorp (KEY) opened at $20.17 on Tuesday. KeyCorp has a 1-year low of $16.28 and a 1-year high of $20.58. The company has a market cap of $21,690.82, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 13.7% on a year-over-year basis. equities research analysts forecast that KeyCorp will post 1.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, November 27th. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is 36.84%.
A number of equities research analysts have issued reports on the company. CIBC reiterated a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Thursday, December 14th. Oppenheimer reiterated a “hold” rating on shares of KeyCorp in a research note on Friday, October 20th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, December 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $22.00 price target on shares of KeyCorp in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.33.
In other KeyCorp news, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth R. Gile purchased 1,374 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was acquired at an average price of $18.23 per share, with a total value of $25,048.02. Following the purchase, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders have sold a total of 57,212 shares of company stock worth $1,060,508 over the last three months. Insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KEY. Meeder Asset Management Inc. lifted its holdings in shares of KeyCorp by 78.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after acquiring an additional 24,554 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of KeyCorp by 2.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,575,887 shares of the financial services provider’s stock valued at $67,299,000 after acquiring an additional 71,018 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of KeyCorp by 11.1% in the 3rd quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after acquiring an additional 42,971 shares during the last quarter. Private Capital Management Inc. lifted its holdings in shares of KeyCorp by 29.7% in the 3rd quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Andra AP fonden lifted its holdings in shares of KeyCorp by 16.6% in the 3rd quarter. Andra AP fonden now owns 193,500 shares of the financial services provider’s stock valued at $3,642,000 after acquiring an additional 27,500 shares during the last quarter. 80.91% 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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