KeyCorp (NYSE:KEY) – Equities research analysts at FBR & Co dropped their Q2 2018 earnings per share estimates for shares of KeyCorp in a research note issued on Thursday. FBR & Co analyst S. Moss now anticipates that the financial services provider will earn $0.37 per share for the quarter, down from their previous forecast of $0.38. FBR & Co also issued estimates for KeyCorp’s Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.40 EPS and Q3 2019 earnings at $0.42 EPS.

Other research analysts also recently issued research reports about the stock. UBS AG upgraded shares of KeyCorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Instinet restated a “buy” rating and set a $23.00 price target on shares of KeyCorp in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research note on Friday, July 14th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $20.50 price objective on shares of KeyCorp in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company’s stock. KeyCorp presently has an average rating of “Hold” and an average target price of $20.31.

COPYRIGHT VIOLATION NOTICE: “FBR & Co Brokers Lower Earnings Estimates for KeyCorp (KEY)” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/23/fbr-co-brokers-lower-earnings-estimates-for-keycorp-key.html.

KeyCorp (KEY) opened at 18.49 on Monday. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 18.36 and a beta of 1.13. KeyCorp has a 12 month low of $12.84 and a 12 month high of $19.53. The stock’s 50 day moving average price is $18.11 and its 200-day moving average price is $18.14.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 9.84% and a net margin of 23.57%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share.

Several large investors have recently bought and sold shares of KEY. Teachers Advisors LLC boosted its position in shares of KeyCorp by 0.8% during the 1st quarter. Teachers Advisors LLC now owns 3,537,235 shares of the financial services provider’s stock worth $62,892,000 after purchasing an additional 28,691 shares during the period. Renaissance Technologies LLC purchased a new position in shares of KeyCorp during the 1st quarter worth approximately $47,742,000. BlackRock Inc. boosted its position in shares of KeyCorp by 3,258.1% during the 1st quarter. BlackRock Inc. now owns 84,413,892 shares of the financial services provider’s stock worth $1,500,878,000 after purchasing an additional 81,900,174 shares during the period. Amalgamated Bank boosted its position in shares of KeyCorp by 6.1% during the 1st quarter. Amalgamated Bank now owns 75,757 shares of the financial services provider’s stock worth $1,347,000 after purchasing an additional 4,359 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of KeyCorp by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,321,074 shares of the financial services provider’s stock worth $59,049,000 after purchasing an additional 101,959 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

In related news, General Counsel Paul N. Harris sold 205,024 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $18.56, for a total transaction of $3,805,245.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Craig A. Buffie sold 31,385 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $18.01, for a total transaction of $565,243.85. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 16,000 shares of company stock valued at $290,540 and have sold 259,409 shares valued at $4,794,449. Company insiders own 0.65% of the company’s stock.

KeyCorp announced that its board has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.

Earnings History and Estimates for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.