KeyCorp (NYSE:KEY) released its quarterly earnings results on Thursday. The financial services provider reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38, Bloomberg Earnings reports. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share.
Shares of KEY opened at $19.01 on Thursday. KeyCorp has a 52-week low of $16.28 and a 52-week high of $22.40. 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 has a market capitalization of $20,110.63, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04.
Several analysts have recently weighed in on the company. Vining Sparks restated a “buy” rating and set a $25.00 price target on shares of KeyCorp in a report on Thursday, January 18th. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, December 26th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Barclays boosted their price target on KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a report on Thursday, April 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $22.14.
In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total value of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares of the company’s stock, valued at $1,098,487.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,857 shares of company stock worth $1,953,548. Insiders own 0.65% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of KEY. GSA Capital Partners LLP lifted its stake in KeyCorp by 21.1% in the third quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after buying an additional 8,937 shares during the period. New England Research & Management Inc. lifted its stake in KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after buying an additional 5,750 shares during the period. Grassi Investment Management lifted its stake in KeyCorp by 439.7% in the fourth quarter. Grassi Investment Management now owns 126,840 shares of the financial services provider’s stock valued at $2,558,000 after buying an additional 103,340 shares during the period. Trust Co acquired a new position in KeyCorp in the third quarter valued at approximately $345,000. Finally, LGT Capital Partners LTD. acquired a new position in KeyCorp in the fourth quarter valued at approximately $18,207,000. 81.71% of the stock is currently owned by hedge funds and other institutional investors.
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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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