KeyCorp (NYSE:KEY) released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36, Bloomberg Earnings reports. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company earned $0.31 earnings per share.
Shares of KeyCorp (NYSE:KEY) traded up $0.31 on Friday, hitting $20.39. 16,410,000 shares of the stock traded hands, compared to its average volume of 10,460,000. KeyCorp has a 52 week low of $16.28 and a 52 week high of $22.22. The firm has a market capitalization of $21,930.00, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s dividend payout ratio (DPR) is 37.50%.
A number of analysts have recently weighed in on the stock. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Sandler O’Neill reaffirmed a “hold” rating and issued a $21.50 price objective on shares of KeyCorp in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. KeyCorp has a consensus rating of “Buy” and an average price target of $22.07.
In other news, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Craig A. Buffie sold 11,819 shares of KeyCorp stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of KEY. Boston Partners bought a new stake in shares of KeyCorp during the third quarter valued at about $356,111,000. Janus Henderson Group PLC raised its stake in shares of KeyCorp by 6,189.4% during the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after purchasing an additional 8,962,913 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of KeyCorp by 3.9% during the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. Samlyn Capital LLC bought a new stake in shares of KeyCorp during the second quarter valued at about $57,111,000. Finally, APG Asset Management N.V. raised its stake in shares of KeyCorp by 45.9% during the fourth quarter. APG Asset Management N.V. now owns 7,944,416 shares of the financial services provider’s stock valued at $133,443,000 after purchasing an additional 2,497,702 shares in the last quarter. Institutional investors and hedge funds own 82.04% of the company’s stock.
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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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