On April 10, 2023 at 10:47:38 ET an unusually large $155.13K block of Call contracts in KeyCorp (KEY) was sold, with a strike price of $13.00 / share, expiring in 102 days (on July 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.35 sigmas above the mean, placing it in the 89.51 percentile of all recent large trades made in KEY options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 55.89% Upside

As of April 6, 2023, the average one-year price target for KeyCorp is $18.57. The forecasts range from a low of $12.12 to a high of $39.90. The average price target represents an increase of 55.89% from its latest reported closing price of $11.91.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for KeyCorp is $7,951MM, an increase of 17.91%. The projected annual non-GAAP EPS is $2.32.

What is the Fund Sentiment?

There are 1546 funds or institutions reporting positions in KeyCorp. This is an increase of 2 owner(s) or 0.13% in the last quarter. Average portfolio weight of all funds dedicated to KEY is 0.20%, a decrease of 0.87%. Total shares owned by institutions increased in the last three months by 0.16% to 920,136K shares. The put/call ratio of KEY is 0.69, indicating a bullish outlook.

What are Large Shareholders Doing?

Capital International Investors holds 51,176K shares representing 5.53% ownership of the company. In it’s prior filing, the firm reported owning 51,191K shares, representing a decrease of 0.03%. The firm increased its portfolio allocation in KEY by 0.04% over the last quarter.

Boston Partners holds 32,534K shares representing 3.52% ownership of the company. In it’s prior filing, the firm reported owning 32,450K shares, representing an increase of 0.26%. The firm increased its portfolio allocation in KEY by 0.75% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 28,383K shares representing 3.07% ownership of the company. In it’s prior filing, the firm reported owning 27,821K shares, representing an increase of 1.98%. The firm increased its portfolio allocation in KEY by 2.45% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 21,694K shares representing 2.35% ownership of the company. In it’s prior filing, the firm reported owning 21,504K shares, representing an increase of 0.88%. The firm increased its portfolio allocation in KEY by 0.76% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 21,568K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 21,144K shares, representing an increase of 1.97%. The firm increased its portfolio allocation in KEY by 2.19% over the last quarter.

KeyCorp Declares $0.20 Dividend

On January 12, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.82 annualized). Shareholders of record as of February 28, 2023 received the payment on March 15, 2023. Previously, the company paid $0.20 per share.

At the current share price of $11.91 / share, the stock’s dividend yield is 6.88%. Looking back five years and taking a sample every week, the average dividend yield has been 4.18%, the lowest has been 2.11%, and the highest has been 8.64%. The standard deviation of yields is 1.11 (n=237).

The current dividend yield is 2.43 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.40. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.

Keycorp Background Information
(This description is provided by the company.)

KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $170.3 billion at December 31, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and approximately 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

This article originally appeared on Fintel

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