KeyCorp (NYSE:KEY) – Equities research analysts at B. Riley raised their Q1 2018 earnings per share (EPS) estimates for KeyCorp in a research note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings of $0.40 per share for the quarter, up from their prior forecast of $0.36. B. Riley also issued estimates for KeyCorp’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.80 EPS.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share.
Other equities research analysts also recently issued research reports about the company. Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research report on Thursday, December 14th. CIBC restated a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research report on Friday, October 20th. Sanford C. Bernstein restated an “outperform” rating and set a $22.00 target price on shares of KeyCorp in a research report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.56.
Shares of KeyCorp (KEY) opened at $21.42 on Friday. The firm has a market capitalization of $23,040.00, a price-to-earnings ratio of 18.63, a PEG ratio of 1.62 and a beta of 1.09. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
A number of large investors have recently bought and sold shares of KEY. Zions Bancorporation grew its stake in KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in KeyCorp in the third quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in KeyCorp in the third quarter valued at about $145,000. Sun Life Financial INC grew its stake in KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 8,037 shares during the period. Finally, AllSquare Wealth Management LLC acquired a new position in KeyCorp in the third quarter valued at about $173,000. 80.91% of the stock is owned by hedge funds and other institutional investors.
In related news, General Counsel Paul N. Harris sold 2,758 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders sold 57,212 shares of company stock valued at $1,060,508 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be issued a $0.105 dividend. This represents a $0.42 dividend on an annualized basis and a yield of 1.96%. KeyCorp’s dividend payout ratio is presently 36.52%.
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KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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