KeyCorp (NYSE:KEY) Sees Significant Increase in Short Interest

KeyCorp (NYSE:KEY) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 21,620,000 shares, an increase of 16.2% from the January 15th total of 18,610,000 shares. Based on an average trading volume of 11,020,000 shares, the days-to-cover ratio is currently 2.0 days.

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

Several large investors have recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its stake in KeyCorp by 285.5% in 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. Whittier Trust Co. raised its holdings in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. Ethos Financial Group LLC purchased a new stake in shares of KeyCorp in the 4th quarter worth approximately $27,000. American Capital Advisory LLC bought a new position in shares of KeyCorp during the third quarter valued at approximately $28,000. Finally, Larson Financial Group LLC increased its holdings in KeyCorp by 90.8% during the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after buying an additional 918 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on KEY shares. Piper Sandler raised their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Stephens restated an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. DA Davidson decreased their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp Trading Up 1.4 %

KEY stock traded up $0.25 during midday trading on Monday, reaching $17.73. The company’s stock had a trading volume of 8,283,918 shares, compared to its average volume of 13,900,512. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The firm has a market capitalization of $17.57 billion, a price-to-earnings ratio of -59.08, a PEG ratio of 0.66 and a beta of 1.26. The stock has a fifty day simple moving average of $17.59 and a two-hundred day simple moving average of $17.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.63%. The ex-dividend date is Tuesday, March 4th. KeyCorp’s dividend payout ratio is presently -273.32%.

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.