KeyCorp (NYSE:KEY) Short Interest Down 7.7% in November

KeyCorp (NYSE:KEY) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 16,230,000 shares, a decline of 7.7% from the October 31st total of 17,580,000 shares. Based on an average daily volume of 10,250,000 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

KEY has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Barclays boosted their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Jefferies Financial Group increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $17.00 in a report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

KeyCorp Stock Down 0.6 %

NYSE:KEY traded down $0.11 during trading hours on Tuesday, reaching $18.79. 8,780,814 shares of the stock were exchanged, compared to its average volume of 13,634,064. The stock has a market cap of $18.63 billion, a PE ratio of 1,879.00, a PEG ratio of 1.05 and a beta of 1.25. KeyCorp has a twelve month low of $12.76 and a twelve month high of $20.04. The firm has a 50 day moving average of $17.92 and a 200 day moving average of $16.17. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, equities analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, December 3rd will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KEY. Franklin Resources Inc. boosted its holdings in shares of KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after buying an additional 319,155 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of KeyCorp in the 3rd quarter valued at about $395,000. Sanctuary Advisors LLC increased its stake in shares of KeyCorp by 23.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 71,218 shares of the financial services provider’s stock worth $1,193,000 after purchasing an additional 13,701 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $558,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in KeyCorp by 1,974.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,541,680 shares of the financial services provider’s stock valued at $25,823,000 after purchasing an additional 1,467,351 shares during the last quarter. 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.