KeyCorp (NYSE:KEY) to Post FY2019 Earnings of $1.84 Per Share, Wedbush Forecasts

KeyCorp (NYSE:KEY) – Equities researchers at Wedbush issued their FY2019 EPS estimates for KeyCorp in a research note issued to investors on Thursday, Zacks Investment Research reports. Wedbush analyst P. Winter forecasts that the financial services provider will earn $1.84 per share for the year.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter last year, the business posted $0.31 earnings per share.

A number of other brokerages have also weighed in on KEY. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and raised their price target for the company from $23.00 to $24.00 in a report on Thursday. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a report on Monday, January 22nd. Vining Sparks reissued a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a report on Thursday, January 18th. Sandler O’Neill reissued a “hold” rating and issued a $21.50 price target on shares of KeyCorp in a report on Friday, January 19th. Finally, DA Davidson raised their price target on shares of KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. KeyCorp currently has an average rating of “Buy” and a consensus price target of $22.07.

Shares of KeyCorp (NYSE:KEY) traded up $0.16 during trading on Friday, hitting $21.83. 8,321,726 shares of the company were exchanged, compared to its average volume of 9,040,000. 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 firm has a market capitalization of $23,480.00, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.62 and a beta of 1.09. KeyCorp has a fifty-two week low of $16.28 and a fifty-two week high of $21.88.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 worth $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. BlackRock Inc. boosted its position in shares of KeyCorp by 2.7% during the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock worth $1,624,654,000 after purchasing an additional 2,280,450 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of KeyCorp by 8.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,857,079 shares of the financial services provider’s stock worth $448,990,000 after purchasing an additional 1,765,263 shares in the last quarter. Boston Partners bought a new position in shares of KeyCorp during the third quarter worth $356,111,000. Finally, Northern Trust Corp boosted its position in shares of KeyCorp by 1.9% during the second quarter. Northern Trust Corp now owns 12,429,250 shares of the financial services provider’s stock worth $232,925,000 after purchasing an additional 231,558 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors.

In other news, Director Elizabeth R. Gile purchased 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the transaction, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of KeyCorp stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the transaction, the insider now directly owns 51,791 shares in the company, valued at $1,098,487.11. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.42 dividend on an annualized basis and a yield of 1.92%. KeyCorp’s payout ratio is presently 37.50%.

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About KeyCorp

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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