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

by · The Cerbat Gem

KeyCorp (NYSE:KEY – Get Free Report) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 14,840,000 shares, a drop of 11.1% from the September 15th total of 16,690,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average trading volume of 14,080,000 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

KEY has been the subject of several research analyst reports. DA Davidson lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $17.00 in a research report on Monday. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Citigroup increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.21.

Check Out Our Latest Research Report on KEY

KeyCorp Trading Up 1.2 %

Shares of NYSE KEY traded up $0.21 during midday trading on Wednesday, reaching $17.70. 11,854,326 shares of the stock were exchanged, compared to its average volume of 14,374,450. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.94. The company 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. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day simple moving average of $16.43 and a two-hundred day simple moving average of $15.31.

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

Insider Buying and Selling at KeyCorp

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

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently modified their holdings of the business. Rheos Capital Works Inc. increased its holdings in KeyCorp by 20.0% during the 3rd quarter. Rheos Capital Works Inc. now owns 600,000 shares of the financial services provider’s stock worth $10,050,000 after purchasing an additional 100,000 shares in the last quarter. B.O.S.S. Retirement Advisors LLC boosted its position in shares of KeyCorp by 3.5% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 117,013 shares of the financial services provider’s stock worth $1,960,000 after buying an additional 3,960 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of 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 buying an additional 1,142 shares in the last quarter. Vontobel Holding Ltd. raised its position in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock valued at $565,000 after buying an additional 679 shares during the last quarter. Finally, Washington Capital Management Inc. lifted its stake in KeyCorp by 5.7% in the 3rd quarter. Washington Capital Management Inc. now owns 89,180 shares of the financial services provider’s stock valued at $1,494,000 after acquiring an additional 4,800 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Company Profile

(Get Free Report)

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.

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