Short Interest in KeyCorp (NYSE:KEY) Rises By 5.3%

KeyCorp (NYSE:KEY) was the recipient of a significant 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 trading volume of 16,170,000 shares, the short-interest ratio is currently 1.7 days. Approximately 3.0% of the shares of the company are short sold.

KeyCorp Stock Up 1.5 %

Shares of NYSE:KEY opened at $14.43 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61. The stock’s 50-day moving average price is $14.66 and its 200-day moving average price is $13.35. The stock has a market capitalization of $13.38 billion, a P/E ratio of 16.21 and a beta of 1.29. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KEY. Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Wells Fargo & Company increased their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Wedbush reduced their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Evercore ISI increased their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.53.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of KeyCorp

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 buying an additional 86,579 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in KeyCorp in the fourth quarter worth about $7,200,000. Fifth Third Bancorp lifted its holdings in KeyCorp by 1.0% in the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after buying an additional 2,344 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 16.2% in 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 buying an additional 3,216,584 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.