KeyCorp (NYSE:KEY) Short Interest Up 13.8% in October

KeyCorp (NYSE:KEY) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 17,580,000 shares, an increase of 13.8% from the October 15th total of 15,450,000 shares. Based on an average daily trading volume, of 12,060,000 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

KEY has been the topic of several analyst reports. UBS Group raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday. Wedbush raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group set a $19.00 target price on shares of KeyCorp in a research report on Thursday, October 17th. Nine equities research 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 stock currently has an average rating of “Moderate Buy” and an average price target of $18.03.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 234,582 shares of the company’s stock, 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. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in the stock. Wolff Wiese Magana LLC increased its stake in KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in shares of KeyCorp during the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC grew its position in shares of KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $32,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

NYSE:KEY traded up $0.01 during mid-day trading on Monday, reaching $19.17. 515,758 shares of the company’s stock were exchanged, compared to its average volume of 13,875,257. The firm has a market capitalization of $19.00 billion, a PE ratio of 1,916.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a one year low of $11.64 and a one year high of $20.00. The business’s fifty day simple moving average is $17.23 and its two-hundred day simple moving average is $15.82.

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

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.