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

KeyCorp (NYSE:KEY) was the target of a significant increase in short interest in the month of 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 volume of 12,060,000 shares, the short-interest ratio is presently 1.5 days.

KeyCorp Stock Down 0.1 %

KEY stock traded down $0.01 during trading on Monday, hitting $19.15. 653,035 shares of the stock traded hands, compared to its average volume of 13,875,873. The firm’s 50 day moving average is $17.23 and its two-hundred day moving average is $15.82. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 1,916.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last announced 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. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. On average, sell-side analysts anticipate that KeyCorp will post 1.09 EPS for the current year.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares in the company, valued at $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. 0.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently modified their holdings of KEY. Coldstream Capital Management Inc. raised its holdings in KeyCorp by 3.9% during the third quarter. Coldstream Capital Management Inc. now owns 37,402 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 1,404 shares during the period. M&T Bank Corp boosted its stake in shares of KeyCorp by 2.1% during the 3rd quarter. M&T Bank Corp now owns 43,507 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 887 shares during the period. Geller Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter worth approximately $282,000. Nomura Asset Management Co. Ltd. lifted its position in shares of KeyCorp by 9.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,859 shares of the financial services provider’s stock worth $5,090,000 after purchasing an additional 25,656 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in shares of KeyCorp by 60.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 194,629 shares of the financial services provider’s stock worth $3,260,000 after acquiring an additional 73,384 shares during the period. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KEY has been the topic of several recent analyst reports. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Jefferies Financial Group increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Wells Fargo & Company upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Barclays lifted their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

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.