KeyCorp (NYSE:KEY) – Equities research analysts at Piper Jaffray upped their Q3 2018 earnings estimates for shares of KeyCorp in a research note issued to investors on Thursday, April 19th. Piper Jaffray analyst K. Barker now forecasts that the financial services provider will earn $0.44 per share for the quarter, up from their previous forecast of $0.42. Piper Jaffray also issued estimates for KeyCorp’s Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.66 EPS, Q1 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.47 EPS, Q4 2019 earnings at $0.50 EPS and FY2019 earnings at $1.77 EPS.
Several other research analysts have also recently issued reports on KEY. BMO Capital Markets dropped their target price on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research report on Thursday, April 5th. Vining Sparks reissued a “buy” rating and set a $25.00 price target on shares of KeyCorp in a research report on Friday, April 6th. ValuEngine lowered shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. KeyCorp has an average rating of “Buy” and an average price target of $22.21.
Shares of KeyCorp stock opened at $19.86 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.99. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.40. The stock has a market cap of $21,065.24, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in the stock. Boston Partners raised its position in KeyCorp by 37.6% during the 4th quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock worth $525,329,000 after buying an additional 7,123,113 shares during the last quarter. Bessemer Group Inc. raised its position in KeyCorp by 17.3% during the 4th quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock worth $285,409,000 after buying an additional 2,084,290 shares during the last quarter. Geode Capital Management LLC raised its position in KeyCorp by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock worth $230,468,000 after buying an additional 97,817 shares during the last quarter. Eaton Vance Management raised its position in KeyCorp by 77.6% during the 4th quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock worth $223,904,000 after buying an additional 4,850,008 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in KeyCorp by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,423,396 shares of the financial services provider’s stock worth $169,899,000 after buying an additional 1,222,838 shares during the last quarter. 81.71% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Robert A. Deangelis sold 25,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $21.11, for a total value of $527,750.00. Following the completion of the transaction, the insider now directly owns 175,053 shares of the company’s stock, valued at approximately $3,695,368.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher M. Gorman sold 56,038 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
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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