Stock Traders Purchase Large Volume of KeyCorp Call Options (NYSE:KEY)

KeyCorp (NYSE:KEY) was the recipient of unusually large options trading on Wednesday. Traders acquired 13,282 call options on the stock. This is an increase of approximately 84% compared to the average volume of 7,221 call options.

Wall Street Analyst Weigh In

A number of research analysts have commented on KEY shares. Keefe, Bruyette & Woods upped their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.44.

Insiders Place Their Bets

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its position in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,142 shares during the period. American Capital Advisory LLC bought a new position in KeyCorp during the third quarter valued at $28,000. Larson Financial Group LLC increased its position in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after buying an additional 918 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp in the third quarter valued at $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of KeyCorp during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 1.5 %

NYSE KEY traded down $0.25 during trading hours on Wednesday, hitting $16.94. 1,938,642 shares of the company’s stock were exchanged, compared to its average volume of 7,697,818. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a 50-day simple moving average of $18.27 and a 200 day simple moving average of $16.81. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 1,694.00, a PEG ratio of 1.00 and a beta of 1.27.

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

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp’s dividend payout ratio is currently 8,200.00%.

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.