KeyCorp (NYSE:KEY) Short Interest Down 11.1% in September

KeyCorp (NYSE:KEY) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 14,840,000 shares, a decline of 11.1% from the September 15th total of 16,690,000 shares. Based on an average daily trading volume, of 14,080,000 shares, the short-interest ratio is presently 1.1 days. Approximately 1.6% of the company’s shares are sold short.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares in the company, valued at $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently made changes to their positions in KEY. Pathway Financial Advisers LLC bought a new position in KeyCorp in the 1st quarter worth approximately $25,000. Wolff Wiese Magana LLC increased 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 worth $26,000 after acquiring an additional 1,142 shares during the period. Crewe Advisors LLC acquired a new position in KeyCorp during the 1st quarter valued at $32,000. Quarry LP bought a new stake in KeyCorp in the 4th quarter valued at $38,000. Finally, Fidelis Capital Partners LLC acquired a new stake in KeyCorp in the 1st quarter worth $39,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE:KEY traded up $0.21 during trading on Wednesday, reaching $17.70. The stock had a trading volume of 11,854,326 shares, compared to its average volume of 14,374,450. The stock has a fifty day simple moving average of $16.43 and a two-hundred day simple moving average of $15.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.94. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 0.97 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts anticipate that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

KEY has been the topic of a number of research analyst reports. Wedbush lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $17.00 in a research report on Monday. Evercore ISI boosted their price objective 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. Finally, DA Davidson increased their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

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.