KeyCorp (NYSE:KEY) Short Interest Update

KeyCorp (NYSE:KEY) saw a significant drop in short interest in December. As of December 15th, there was short interest totaling 21,121,539 shares, a drop of 26.8% from the November 30th total of 28,852,758 shares. Based on an average daily trading volume, of 20,105,780 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.9% of the shares of the company are sold short. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 20,105,780 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of the company. Activest Wealth Management increased its holdings in KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares in the last quarter. United Community Bank bought a new stake in shares of KeyCorp during the third quarter worth about $27,000. Tompkins Financial Corp bought a new stake in shares of KeyCorp during the second quarter worth about $26,000. Sachetta LLC increased its stake in shares of KeyCorp by 1,246.1% in the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,595 shares during the period. Finally, Kelleher Financial Advisors bought a new position in KeyCorp in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of several research reports. UBS Group upped their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Truist Financial raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. Jefferies Financial Group boosted their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, December 10th. Finally, Evercore ISI raised their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.79.

KeyCorp Price Performance

NYSE KEY traded down $0.24 during trading on Tuesday, hitting $20.73. 8,369,461 shares of the company’s stock were exchanged, compared to its average volume of 15,458,133. The company has a market cap of $22.65 billion, a PE ratio of 25.59, a P/E/G ratio of 0.63 and a beta of 1.11. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $21.25. The stock’s 50 day moving average price is $18.85 and its two-hundred day moving average price is $18.41.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. Research analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.82 annualized dividend and a dividend yield of 4.0%. KeyCorp’s dividend payout ratio is 101.23%.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.