KeyCorp (NYSE:KEY) saw a large decline in short interest during the month of March. As of March 29th, there was short interest totalling 10,593,760 shares, a decline of 26.8% from the March 15th total of 14,462,968 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 10,333,399 shares, the short-interest ratio is presently 1.0 days.
In other news, insider Robert A. Deangelis sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the sale, the insider now directly owns 175,053 shares in the company, valued at approximately $3,695,368.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,857 shares of company stock worth $1,953,548. 0.67% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in KEY. We Are One Seven LLC purchased a new stake in KeyCorp in the 4th quarter valued at about $183,000. Davis R M Inc. purchased a new stake in KeyCorp in the 4th quarter valued at about $217,000. Jump Trading LLC purchased a new stake in KeyCorp in the 4th quarter valued at about $219,000. CIBC World Markets Inc. purchased a new stake in KeyCorp in the 4th quarter valued at about $224,000. Finally, Valeo Financial Advisors LLC boosted its position in KeyCorp by 136.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 11,108 shares of the financial services provider’s stock valued at $224,000 after buying an additional 6,419 shares during the period. 81.71% of the stock is owned by institutional investors.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same period in the previous year, the company earned $0.31 EPS. research analysts expect that KeyCorp will post 1.67 earnings per share for the current year.
A number of research firms have recently weighed in on KEY. Deutsche Bank upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $24.00 in a report on Thursday, January 25th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Sandler O’Neill restated a “hold” rating and issued a $21.50 target price on shares of KeyCorp in a report on Friday, January 19th. DA Davidson boosted their target price on shares of KeyCorp to $26.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Finally, Vining Sparks restated a “buy” rating and issued a $25.00 target price on shares of KeyCorp in a report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.14.
About KeyCorp
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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