KeyCorp Sees Unusually Large Options Volume (NYSE:KEY)

KeyCorp (NYSE:KEY) was the target of unusually large options trading on Friday. Investors purchased 16,972 put options on the company. This is an increase of 60% compared to the typical daily volume of 10,582 put options.

Analyst Ratings Changes

KEY has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Wells Fargo & Company boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Argus boosted their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.00.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $14.48 on Friday. The company has a market cap of $13.65 billion, a PE ratio of 18.33, a P/E/G ratio of 0.70 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 12-month low of $9.10 and a 12-month high of $15.86. The stock has a 50 day simple moving average of $14.97 and a 200-day simple moving average of $14.19.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. On average, equities research analysts forecast that KeyCorp will post 1.14 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.82 annualized dividend and a dividend yield of 5.66%. KeyCorp’s dividend payout ratio is currently 103.80%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KEY. Nisa Investment Advisors LLC raised its stake in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 acquiring an additional 86,579 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after acquiring an additional 289,258 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of KeyCorp in the fourth quarter worth $1,556,000. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of KeyCorp in the fourth quarter worth $7,200,000. Institutional investors 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.