Traders Buy High Volume of Call Options on KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY) was the target of unusually large options trading on Monday. Stock investors acquired 15,587 call options on the company. This is an increase of approximately 52% compared to the average daily volume of 10,273 call options.

KeyCorp Stock Down 0.7 %

Shares of KEY stock opened at $16.95 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85. KeyCorp has a one year low of $9.50 and a one year high of $17.20. The company’s fifty day moving average price is $15.13 and its 200-day moving average price is $14.79. The company has a market capitalization of $15.98 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 0.91 and a beta of 1.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business posted $0.27 EPS. KeyCorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.84%. KeyCorp’s dividend payout ratio is presently 103.80%.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On KeyCorp

Institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its holdings in shares of KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 704 shares during the last quarter. Raymond James Trust N.A. grew its holdings in KeyCorp by 2.5% during the 2nd quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock valued at $429,000 after buying an additional 724 shares in the last quarter. Caldwell Sutter Capital Inc. grew its holdings in KeyCorp by 3.7% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock valued at $331,000 after buying an additional 742 shares in the last quarter. Czech National Bank increased its stake in KeyCorp by 0.5% in the 1st quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after acquiring an additional 788 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of KeyCorp by 1.7% during the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock worth $801,000 after acquiring an additional 837 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. UBS Group cut KeyCorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $15.00 in a research report on Monday, July 8th. Evercore ISI reduced their price target on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Wedbush raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, DA Davidson upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $16.65.

About KeyCorp

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.