KeyCorp (NYSE:KEY) – Equities researchers at Jefferies Financial Group decreased their FY2018 earnings per share (EPS) estimates for KeyCorp in a note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will earn $1.72 per share for the year, down from their prior estimate of $1.73. Jefferies Financial Group has a “Buy” rating and a $23.00 price target on the stock. Jefferies Financial Group also issued estimates for KeyCorp’s Q3 2019 earnings at $0.49 EPS.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. KeyCorp had a return on equity of 12.56% and a net margin of 21.47%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
A number of other research analysts have also recently commented on the company. UBS Group set a $23.00 price objective on KeyCorp and gave the company a “buy” rating in a report on Monday, October 22nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $21.00 price objective on shares of KeyCorp in a report on Monday, October 22nd. BMO Capital Markets decreased their price objective on KeyCorp from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. Finally, Nomura decreased their price objective on KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $23.39.
KEY opened at $18.39 on Thursday. KeyCorp has a one year low of $16.48 and a one year high of $22.40. The company has a market capitalization of $18.75 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.66 and a beta of 1.01. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.88 and a current ratio of 0.89.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Suntrust Banks Inc. increased its position in shares of KeyCorp by 23.2% during the first quarter. Suntrust Banks Inc. now owns 30,597 shares of the financial services provider’s stock worth $597,000 after acquiring an additional 5,770 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in shares of KeyCorp during the first quarter worth $114,000. DnB Asset Management AS increased its position in shares of KeyCorp by 4.1% during the second quarter. DnB Asset Management AS now owns 129,387 shares of the financial services provider’s stock worth $2,528,000 after acquiring an additional 5,100 shares during the period. IFM Investors Pty Ltd increased its position in shares of KeyCorp by 34.6% during the second quarter. IFM Investors Pty Ltd now owns 57,477 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 14,779 shares during the period. Finally, CENTRAL TRUST Co increased its position in shares of KeyCorp by 358.3% during the second quarter. CENTRAL TRUST Co now owns 17,595 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 13,756 shares during the period. 80.08% of the stock is currently owned by institutional investors.
In other KeyCorp news, insider Edward J. Burke sold 46,360 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $21.32, for a total value of $988,395.20. Following the sale, the insider now owns 89,128 shares of the company’s stock, valued at $1,900,208.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas M. Schosser sold 6,048 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total value of $129,971.52. Following the completion of the sale, the insider now directly owns 23,164 shares in the company, valued at approximately $497,794.36. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
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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