Short Interest in KeyCorp (NYSE:KEY) Declines By 7.7%

KeyCorp (NYSE:KEY) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 16,230,000 shares, a decrease 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 short-interest ratio is presently 1.6 days.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, 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 disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

A number of large investors have recently made changes to their positions in KEY. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after purchasing an additional 2,213,872 shares during the last quarter. Earnest Partners LLC raised its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after acquiring an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in KeyCorp by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in KeyCorp by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after purchasing an additional 222,187 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Royal Bank of Canada raised their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. Finally, Evercore ISI increased their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.26.

KeyCorp Trading Down 1.9 %

Shares of KeyCorp stock traded down $0.37 on Monday, reaching $19.11. 10,047,287 shares of the company were exchanged, compared to its average volume of 13,654,982. KeyCorp has a fifty-two week low of $12.76 and a fifty-two week high of $20.04. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 1,911.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25. 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 fifty day moving average price of $17.88 and a 200-day moving average price of $16.15.

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

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

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.