KeyCorp (NYSE:KEY) – Equities research analysts at Wedbush raised their FY2018 earnings estimates for shares of KeyCorp in a report issued on Sunday, July 1st. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings per share of $1.72 for the year, up from their prior estimate of $1.70. Wedbush also issued estimates for KeyCorp’s FY2019 earnings at $1.93 EPS.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS.
A number of other research firms have also weighed in on KEY. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, June 20th. Morgan Stanley boosted their target price on KeyCorp from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, April 24th. Argus began coverage on KeyCorp in a report on Tuesday, June 26th. They set a “buy” rating and a $24.00 target price on the stock. BMO Capital Markets decreased their target price on KeyCorp from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Finally, Susquehanna Bancshares raised KeyCorp from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $24.00 to $25.00 in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.52.
KeyCorp opened at $19.68 on Tuesday, MarketBeat reports. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99. The company has a market cap of $20.74 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. KeyCorp has a 1-year low of $16.28 and a 1-year high of $22.40.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB grew its holdings in shares of KeyCorp by 4.8% during the 4th quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock worth $4,855,000 after purchasing an additional 10,948 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of KeyCorp by 3.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 128,110 shares of the financial services provider’s stock worth $2,505,000 after purchasing an additional 3,710 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of KeyCorp by 3.5% during the 1st quarter. Stifel Financial Corp now owns 1,386,981 shares of the financial services provider’s stock worth $27,142,000 after purchasing an additional 47,073 shares in the last quarter. We Are One Seven LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth $183,000. Finally, Quantitative Investment Management LLC grew its holdings in shares of KeyCorp by 30.7% during the 4th quarter. Quantitative Investment Management LLC now owns 375,600 shares of the financial services provider’s stock worth $7,575,000 after purchasing an additional 88,200 shares in the last quarter. 79.98% of the stock is currently owned by institutional investors.
In other KeyCorp news, insider Edward J. Burke sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $19.83, for a total value of $198,300.00. Following the transaction, the insider now directly owns 126,526 shares of the company’s stock, valued at approximately $2,509,010.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.67% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, May 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.44%. This is a positive change from KeyCorp’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, May 25th. KeyCorp’s dividend payout ratio is currently 35.29%.
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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