KeyCorp [KEY] Investment Appeal on the Rise


KeyCorp’s filing revealed that its Director Rankin Devina A acquired Company’s shares for reported $0.11 million on Aug 10. In the deal valued at $11.49 per share,10,000 shares were bought. As a result of this transaction, Rankin Devina A now holds 10,000 shares worth roughly $ 0.11 million.

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Then, Brady Amy G. sold 12,627 shares, generating $125,260 in total proceeds. Upon selling the shares at $9.92, the Chief Information Officer now owns 94,106 shares.

Before that, Brady Amy G. sold 12,388 shares. KeyCorp shares valued at $125,243 were divested by the Chief Information Officer at a price of $10.11 per share. As a result of the transaction, Brady Amy G. now holds 106,733 shares, worth roughly $1.16 million.

JP Morgan upgraded its KeyCorp [KEY] rating to a Neutral from a an Underweight in a research note published on Friday, August 02, 2023; the price target was increased to $13.50 from $11.50. PT values the company’s stock at a premium of 19.41 to its Friday closing price.

Price Performance Review of KEY

On Friday, KeyCorp [NYSE:KEY] saw its stock jump 0.09% to $10.88. On the same session, the stock had its day’s lowest price of $10.705, but rose to a high of $11.075. Over the last five days, the stock has gained 0.46%. KeyCorp shares have fallen nearly -37.54% since the year began. Nevertheless, the stocks have fallen -41.97% over the past one year. While a 52-week high of $20.30 was reached on 02/02/23, a 52-week low of $8.53 was recorded on 05/04/23. SMA at 50 days reached $10.73, while 200 days put it at $13.95. A total of 13.57 million shares were traded, compared to the trading of 11.64 million shares in the previous session.

Levels Of Support And Resistance For KEY Stock

The 24-hour chart illustrates a support level at 10.70, which if violated will result in even more drops to 10.52. On the upside, there is a resistance level at 11.07. A further resistance level may holdings at 11.26. The Relative Strength Index (RSI) on the 14-day chart is 46.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.48%. Stochastics %K at 28.12% indicates the stock is a holding.

How much short interest is there in KeyCorp?

A steep rise in short interest was recorded in KeyCorp stocks on Aug 14, 2023, dropping by -11.14 million shares to a total of 40.54 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 51.68 million shares. There was a decline of -27.48%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.2.

KeyCorp [KEY] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 106,517,901 shares, or roughly 11.39% of the outstanding KEY shares. In other words, the investor’s shares have fallen by -360,729 from its previous 13-F filing of 106878630.0. Additionally, BlackRock Fund Advisors increased 3.54% of its stake after which the total value it holdings stand at $812,365,632, while SSgA Funds Management, Inc. added 2.60% of its stake to hold $580.95 million in the firm. Over the last quarter, Fuller & Thaler Asset Management, purchased 14,395,440 shares of KeyCorp, while Charles Schwab Investment Managem bought 1,098,252 shares. At present, Geode Capital Management LLC is holding 19,700,010 shares valued at $242.51 million. Invesco Capital Management LLC owned 16,943,957 shares of the company at the time of its most recent 13F filing, worth $208.58 million.

According to FactSet, KeyCorp’s share price will average $13.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 19.6 percent from its previous closing price of $10.87. Analysts expect KeyCorp stock to reach the higher price of $18.00, while the lowest price estimate is $10.00. However, 23 analysts have rated KEY stock as an Overweight in their predictions for 2023.


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