KeyCorp Target of Unusually Large Options Trading (NYSE:KEY)

KeyCorp (NYSE:KEY) saw unusually large options trading on Tuesday. Stock investors purchased 46,167 call options on the company. This represents an increase of 1,058% compared to the average daily volume of 3,987 call options.

Shares of KeyCorp stock traded up $0.22 during trading on Thursday, hitting $18.05. 15,389,610 shares of the stock traded hands, compared to its average volume of 12,376,934. KeyCorp has a 52-week low of $16.48 and a 52-week 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 1.01. The firm has a market cap of $18.45 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.66 and a beta of 1.00.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts forecast that KeyCorp will post 1.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 27th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, November 26th. This represents a $0.68 annualized dividend and a yield of 3.77%. KeyCorp’s dividend payout ratio (DPR) is presently 50.00%.

In related news, Chairman Beth E. Mooney purchased 10,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average cost of $18.26 per share, for a total transaction of $182,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 6,963 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $18.37, for a total value of $127,910.31. Following the completion of the sale, the director now owns 68,088 shares of the company’s stock, valued at $1,250,776.56. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Kiley Juergens Wealth Management LLC purchased a new position in KeyCorp in the second quarter valued at about $113,000. Mount Yale Investment Advisors LLC acquired a new stake in KeyCorp in the first quarter worth about $114,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in KeyCorp by 8,462.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,165 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 6,093 shares in the last quarter. Reilly Financial Advisors LLC boosted its holdings in KeyCorp by 408.3% in the third quarter. Reilly Financial Advisors LLC now owns 6,354 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 5,104 shares in the last quarter. Finally, Zions Bancorporation acquired a new stake in KeyCorp in the third quarter worth about $138,000. Institutional investors own 79.35% of the company’s stock.

KEY has been the topic of a number of recent analyst reports. Zacks Investment Research lowered KeyCorp from a “buy” rating to a “hold” rating in a research note on Wednesday, August 22nd. Nomura reiterated a “neutral” rating and issued a $18.00 target price (down previously from $20.00) on shares of KeyCorp in a research note on Tuesday, November 13th. BMO Capital Markets reduced their target price on KeyCorp from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Wedbush set a $23.00 target price on KeyCorp and gave the stock a “buy” rating in a research note on Thursday, September 13th. Finally, Standpoint Research upgraded KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. KeyCorp has an average rating of “Buy” and a consensus target price of $23.17.

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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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