Short Interest in KeyCorp (KEY) Grows By 24.1%
KeyCorp (NYSE:KEY) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 15,051,023 shares, a growth of 24.1% from the October 15th total of 12,124,532 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 17,830,982 shares, the days-to-cover ratio is presently 0.8 days.
Shares of KEY opened at $18.42 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The company has a market cap of $19.54 billion, a P/E ratio of 13.54, a PEG ratio of 0.70 and a beta of 1.00. KeyCorp has a 1 year low of $16.48 and a 1 year high of $22.40.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities analysts predict that KeyCorp will post 1.73 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. raised its stake in KeyCorp by 28.5% during the third quarter. First Republic Investment Management Inc. now owns 186,017 shares of the financial services provider’s stock worth $3,700,000 after purchasing an additional 41,279 shares during the period. Bailard Inc. purchased a new position in KeyCorp during the third quarter worth approximately $241,000. Cpwm LLC purchased a new position in KeyCorp during the third quarter worth approximately $206,000. GAM Holding AG purchased a new position in KeyCorp during the third quarter worth approximately $434,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in KeyCorp by 67.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,434 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 10,606 shares during the period. 81.60% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on KEY shares. Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Vining Sparks reaffirmed a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a report on Thursday, July 19th. Scotiabank reaffirmed a “hold” rating on shares of KeyCorp in a report on Friday, November 9th. UBS Group set a $23.00 price target on shares of KeyCorp and gave the company a “buy” rating in a report on Monday, October 22nd. Finally, Nomura reaffirmed a “neutral” rating and issued a $18.00 price target (down previously from $20.00) on shares of KeyCorp in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $23.17.
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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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