KeyCorp (NYSE:KEY) Short Interest Update

KeyCorp (NYSE:KEY) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 22,680,000 shares, a decrease of 14.5% from the July 15th total of 26,520,000 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 13,370,000 shares, the days-to-cover ratio is presently 1.7 days.

KeyCorp Stock Performance

KEY traded up $0.19 during trading on Friday, reaching $16.39. 12,611,080 shares of the company’s stock were exchanged, compared to its average volume of 15,168,506. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average price of $14.76 and a 200 day moving average price of $14.68. The company has a market capitalization of $15.45 billion, a P/E ratio of 20.75, a PEG ratio of 0.87 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. As a group, analysts predict that KeyCorp will post 1.1 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.00%. KeyCorp’s payout ratio is presently 103.80%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KEY. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. Morgan Stanley raised their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 8th. DA Davidson raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Wedbush raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock valued at $337,191,000 after acquiring an additional 289,258 shares during the period. Aigen Investment Management LP bought a new position in shares of KeyCorp in the fourth quarter valued at about $1,556,000. Freestone Capital Holdings LLC bought a new position in shares of KeyCorp in the first quarter valued at about $561,000. Commerce Bank raised its holdings in shares of KeyCorp by 399.7% in the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock valued at $7,212,000 after buying an additional 364,850 shares during the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of KeyCorp by 44.4% in the fourth quarter. Cibc World Markets Corp now owns 217,122 shares of the financial services provider’s stock valued at $3,127,000 after buying an additional 66,806 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

KeyCorp Company Profile

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.