Could KeyCorp Lose Strenght? Option Traders Don’t Think So

 Could KeyCorp Lose Strenght? Option Traders Don't Think So

In today’s session KeyCorp (KEY) registered an unusually high (16,387) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious KEY increase. With 16,387 contracts traded and 115714 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: KEY161216C00015000 closed last at: $0.58 or 152.2% up. The stock last traded at $15.79 per share. It is down 45.00% since April 11, 2016 and is uptrending. It has outperformed by 38.85% the S&P500.

KeyCorp (NYSE:KEY) Ratings Coverage

Out of 25 analysts covering Keycorp (NYSE:KEY), 17 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 68% are positive. $18 is the highest target while $2 is the lowest. The $14.90 average target is -5.64% below today’s ($15.79) stock price. Keycorp has been the topic of 51 analyst reports since July 20, 2015 according to StockzIntelligence Inc. On Wednesday, August 12 the stock rating was upgraded by KBW to “Market Perform”. The rating was upgraded by UBS to “Buy” on Friday, February 5. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Monday, November 2. The stock of KeyCorp (NYSE:KEY) has “Buy” rating given on Wednesday, January 6 by Nomura. Vetr downgraded KeyCorp (NYSE:KEY) rating on Friday, August 28. Vetr has “Strong-Buy” rating and $15.50 price target. Vetr upgraded the shares of KEY in a report on Monday, August 24 to “Buy” rating. The firm has “Positive” rating by Susquehanna given on Thursday, November 5. As per Wednesday, September 9, the company rating was initiated by BMO Capital Markets. Jefferies maintained KeyCorp (NYSE:KEY) rating on Wednesday, July 27. Jefferies has “Buy” rating and $14 price target. The firm has “Buy” rating by Sterne Agee CRT given on Thursday, August 20.

According to Zacks Investment Research, “KeyCorp is an integrated multi-line financial services company. Its subsidiaries provide a wide range of investment management, retail and commercial banking, consumer finance and investment banking products and services to corporate, individual and institutional clients through four lines of business: Key Retail Banking, Key Specialty Finance, Key Corporate Capital and Key Capital Partners.”

Insitutional Activity: The institutional sentiment decreased to 1.09 in Q2 2016. Its down 0.27, from 1.36 in 2016Q1. The ratio is negative, as 39 funds sold all KeyCorp shares owned while 186 reduced positions. 56 funds bought stakes while 189 increased positions. They now own 702.32 million shares or 2.46% more from 685.48 million shares in 2016Q1.
Thompson Davis And Company holds 1,178 shares or 0.02% of its portfolio. Ngam L P accumulated 30,027 shares or 0% of the stock. Goldman Sachs Gru Incorporated reported 9.26 million shares or 0.03% of all its holdings. Winslow Evans And Crocker, a Massachusetts-based fund reported 964 shares. Macquarie Gru Limited has 0.01% invested in the company for 633,396 shares. Mitsubishi Ufj Tru & Bk has 1.69 million shares for 0.04% of their US portfolio. The Texas-based Barrow Hanley Mewhinney & Strauss Lc has invested 0.17% in KeyCorp (NYSE:KEY). Bokf Na last reported 0.01% of its portfolio in the stock. Ramsey Asset Mngmt holds 92,128 shares or 1.98% of its portfolio. Financial Architects Inc holds 0% of its portfolio in KeyCorp (NYSE:KEY) for 188 shares. Conning Incorporated accumulated 0.05% or 101,357 shares. Lenox Wealth Mgmt has 11,001 shares for 0.09% of their US portfolio. Fiduciary Tru holds 96,946 shares or 0.04% of its portfolio. Airain Ltd accumulated 62,330 shares or 0.04% of the stock. Tradewinds Capital Mgmt Limited Com accumulated 0.03% or 3,752 shares.

Insider Transactions: Since May 16, 2016, the stock had 2 insider purchases, and 0 insider sales for $239,950 net activity. CUTLER ALEXANDER M had bought 15,000 shares worth $177,900 on Monday, May 16. COOLEY CHARLES P bought 5,000 shares worth $62,050.

KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association , which is engaged in providing banking services. The company has a market cap of $17.69 billion. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking services and products to individual, corporate and institutional clients. It has a 17.9 P/E ratio. The Company’s divisions include Key Community Bank and Key Corporate Bank.

KEY Company Profile

KeyCorp, incorporated on December 31, 1958, is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking services and products to individual, corporate and institutional clients. The Company’s divisions include Key Community Bank and Key Corporate Bank. The Company’s Other Segments consist of corporate treasury, principal investing unit and various exit portfolios.

More important recent KeyCorp (NYSE:KEY) news were published by: Realmoney.Thestreet.com which released: “KeyCorp’s Surge Unlocks New Price Target” on November 10, 2016, also Wsj.com published article titled: “KeyCorp Revenue Climbs on First Niagara Deal”, Prnewswire.com published: “KeyCorp Reports 2016 Dodd-Frank Act Mid-Cycle Stress Test Results” on November 02, 2016. More interesting news about KeyCorp (NYSE:KEY) was released by: Bizjournals.com and their article: “KeyCorp leaders must decide what to do with 3 Albany offices” with publication date: October 27, 2016.

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