KeyCorp (NYSE:KEY) Short Interest Up 5.3% in March

KeyCorp (NYSE:KEY) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 28,000,000 shares, an increase of 5.3% from the March 15th total of 26,590,000 shares. Based on an average daily volume of 16,170,000 shares, the short-interest ratio is presently 1.7 days. Approximately 3.0% of the shares of the stock are short sold.

KeyCorp Stock Down 1.5 %

Shares of NYSE KEY traded down $0.21 during mid-day trading on Wednesday, reaching $14.22. 13,134,308 shares of the company were exchanged, compared to its average volume of 10,007,049. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 15.97 and a beta of 1.29. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The firm has a 50-day moving average of $14.65 and a 200 day moving average of $13.34.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period last year, the business posted $0.38 earnings per share. On average, research analysts expect that KeyCorp will post 1.17 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on KEY shares. Evercore ISI upped their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Raymond James initiated coverage on KeyCorp in a report on Monday, January 8th. They set a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price target on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.53.

Insider Buying and Selling

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after acquiring an additional 86,579 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of KeyCorp during the fourth quarter worth about $7,200,000. Fifth Third Bancorp lifted its holdings in shares of KeyCorp by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after purchasing an additional 2,344 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of KeyCorp by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after purchasing an additional 3,216,584 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.