KeyCorp (NYSE:KEY) was the recipient of a large decrease in short interest in the month of March. As of March 29th, there was short interest totalling 10,593,760 shares, a decrease of 26.8% from the March 15th total of 14,462,968 shares. Based on an average daily volume of 10,333,399 shares, the short-interest ratio is presently 1.0 days. Currently, 1.0% of the company’s stock are sold short.
In related news, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. Insiders sold a total of 92,857 shares of company stock valued at $1,953,548 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Boston Partners increased its stake in shares of KeyCorp by 37.6% in the fourth quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock worth $525,329,000 after acquiring an additional 7,123,113 shares during the period. Bessemer Group Inc. increased its stake in shares of KeyCorp by 17.3% in the fourth quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock worth $285,409,000 after acquiring an additional 2,084,290 shares during the period. Geode Capital Management LLC increased its stake in shares of KeyCorp by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock worth $230,468,000 after acquiring an additional 97,817 shares during the period. Eaton Vance Management increased its stake in shares of KeyCorp by 77.6% in the fourth quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock worth $223,904,000 after acquiring an additional 4,850,008 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of KeyCorp by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 8,423,396 shares of the financial services provider’s stock worth $169,899,000 after acquiring an additional 1,222,838 shares during the period. Hedge funds and other institutional investors own 81.71% of the company’s stock.
Several research analysts recently commented on KEY shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a research note on Thursday, April 5th. DA Davidson boosted their price objective on shares of KeyCorp to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Vining Sparks reiterated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $24.00 in a research note on Thursday, January 25th. Finally, Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. KeyCorp has an average rating of “Buy” and an average price target of $22.14.
NYSE:KEY opened at $18.87 on Thursday. The firm has a market capitalization of $20,513.69, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter in the prior year, the business earned $0.31 earnings per share. research analysts predict that KeyCorp will post 1.67 EPS for the current fiscal year.
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KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.
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