KeyCorp (NYSE:KEY) – Investment analysts at Jefferies Group lifted their FY2018 earnings per share estimates for shares of KeyCorp in a note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.65 per share for the year, up from their prior estimate of $1.45. Jefferies Group also issued estimates for KeyCorp’s FY2019 earnings at $1.80 EPS.
KEY has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley restated an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.50 price objective on shares of KeyCorp in a research report on Thursday, December 14th. Finally, Citigroup raised their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.98.
Shares of KeyCorp (KEY) traded up $0.34 during trading hours on Wednesday, reaching $21.16. 13,614,699 shares of the company were exchanged, compared to its average volume of 10,088,538. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a market capitalization of $22,760.00, a P/E ratio of 18.40, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a 1 year low of $16.28 and a 1 year high of $21.71.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. During the same quarter in the prior year, the firm earned $0.31 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in KeyCorp by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock worth $2,087,987,000 after acquiring an additional 4,230,390 shares during the period. BlackRock Inc. grew its stake in KeyCorp by 2.7% in the 2nd quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after acquiring an additional 2,280,450 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in KeyCorp by 8.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after acquiring an additional 1,765,263 shares during the period. Boston Partners purchased a new stake in KeyCorp in the 3rd quarter worth approximately $356,111,000. Finally, Northern Trust Corp grew its stake in KeyCorp by 1.9% in the 2nd quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after acquiring an additional 231,558 shares during the period. 81.01% of the stock is owned by institutional investors and hedge funds.
In other KeyCorp news, Director Elizabeth R. Gile acquired 1,374 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $18.23 per share, with a total value of $25,048.02. Following the purchase, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now directly owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,212 shares of company stock valued at $1,060,508. 0.65% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.98%. KeyCorp’s dividend payout ratio (DPR) 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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