KeyCorp (NYSE:KEY) Sees Significant Growth in Short Interest

KeyCorp (NYSE:KEY) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 21,620,000 shares, a growth of 16.2% from the January 15th total of 18,610,000 shares. Based on an average trading volume of 11,020,000 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KEY shares. Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. The Goldman Sachs Group raised their target price on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Truist Financial initiated coverage on shares of KeyCorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

KeyCorp Trading Up 1.4 %

KeyCorp stock traded up $0.25 during trading hours on Monday, reaching $17.73. The company had a trading volume of 8,283,918 shares, compared to its average volume of 13,900,512. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 12-month low of $13.10 and a 12-month high of $20.04. The company has a 50-day moving average price of $17.59 and a 200 day moving average price of $17.33. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of -59.08, a P/E/G ratio of 0.66 and a beta of 1.26.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several institutional investors have recently added to or reduced their stakes in KEY. Vanguard Group Inc. raised its holdings in shares of KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock valued at $2,004,228,000 after acquiring an additional 7,754,576 shares in the last quarter. FMR LLC raised its holdings in KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock worth $761,556,000 after purchasing an additional 2,938,405 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in KeyCorp by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider’s stock worth $622,229,000 after purchasing an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock worth $566,626,000 after purchasing an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of KeyCorp by 4.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider’s stock valued at $465,929,000 after buying an additional 1,062,615 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.