KeyCorp (NYSE:KEY) – Jefferies Financial Group raised their FY2019 EPS estimates for KeyCorp in a report issued on Tuesday, October 30th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $1.89 for the year, up from their prior estimate of $1.88. 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 Q4 2019 earnings at $0.51 EPS.
KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm posted $0.32 EPS. KeyCorp’s revenue was up 3.1% compared to the same quarter last year.
Several other analysts also recently issued reports on the stock. UBS Group set a $23.00 price target on shares of KeyCorp and gave the company a “buy” rating in a research report on Monday, October 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.00 price target on shares of KeyCorp in a research report on Monday, October 22nd. Piper Jaffray Companies reissued a “buy” rating and issued a $21.00 price target on shares of KeyCorp in a research report on Monday, October 22nd. BMO Capital Markets reduced their price target on shares of KeyCorp from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Finally, Nomura reduced their price target on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.39.
NYSE KEY opened at $18.43 on Friday. KeyCorp has a 12-month low of $16.48 and a 12-month high of $22.40. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $19.39 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.00.
Institutional investors and hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. boosted its holdings in shares of KeyCorp by 23.2% in the 1st quarter. Suntrust Banks Inc. now owns 30,597 shares of the financial services provider’s stock worth $597,000 after buying an additional 5,770 shares during the last quarter. DnB Asset Management AS boosted its holdings in shares of KeyCorp by 4.1% in the 2nd quarter. DnB Asset Management AS now owns 129,387 shares of the financial services provider’s stock worth $2,528,000 after buying an additional 5,100 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of KeyCorp by 34.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 57,477 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 14,779 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in shares of KeyCorp by 358.3% in the 2nd quarter. CENTRAL TRUST Co now owns 17,595 shares of the financial services provider’s stock worth $344,000 after buying an additional 13,756 shares during the last quarter. Finally, KAMES CAPITAL plc purchased a new position in shares of KeyCorp in the 2nd quarter worth about $1,265,000. 80.08% of the stock is currently owned by hedge funds and other institutional investors.
In other KeyCorp news, insider Douglas M. Schosser sold 6,048 shares of KeyCorp stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $21.49, for a total transaction of $129,971.52. Following the transaction, the insider now directly owns 23,164 shares of the company’s stock, valued at approximately $497,794.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward J. Burke sold 46,360 shares of KeyCorp stock in a transaction on Friday, August 10th. The stock was sold at an average price of $21.32, for a total transaction of $988,395.20. Following the transaction, the insider now directly owns 89,128 shares in the company, valued at $1,900,208.96. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.
KeyCorp Company Profile
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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