Short Interest in KeyCorp (NYSE:KEY) Increases By 8.0%

KeyCorp (NYSE:KEY) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 18,530,000 shares, a growth of 8.0% from the December 31st total of 17,150,000 shares. Based on an average daily trading volume, of 9,510,000 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Barclays increased their price objective on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. UBS Group increased their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley reduced their price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.69.

KeyCorp Trading Up 1.8 %

NYSE:KEY traded up $0.32 on Tuesday, hitting $17.79. The stock had a trading volume of 2,120,010 shares, compared to its average volume of 13,144,451. The stock has a market cap of $17.63 billion, a price-to-earnings ratio of -59.21, a PEG ratio of 0.66 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $17.89 and a two-hundred day moving average price of $17.21. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s dividend payout ratio (DPR) is currently -273.32%.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by insiders.

Institutional Investors Weigh In On KeyCorp

Hedge funds have recently bought and sold shares of the stock. Union Bancaire Privee UBP SA purchased a new position in shares of KeyCorp in the 4th quarter valued at about $1,849,000. Callan Capital LLC acquired a new position in KeyCorp in the fourth quarter valued at approximately $175,000. Bradley Foster & Sargent Inc. CT increased its stake in KeyCorp by 4.0% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 51,780 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 2,000 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in KeyCorp by 59.9% during the fourth quarter. Handelsbanken Fonder AB now owns 236,553 shares of the financial services provider’s stock worth $4,055,000 after purchasing an additional 88,657 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of KeyCorp by 1.3% during the 4th quarter. Private Advisor Group LLC now owns 153,783 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 1,985 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.