KeyCorp (NYSE:KEY) – Equities researchers at Jefferies Group cut their FY2017 EPS estimates for shares of KeyCorp in a report released on Thursday. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $1.37 for the year, down from their previous estimate of $1.39. Jefferies Group has a “Buy” rating and a $21.00 price target on the stock. Jefferies Group also issued estimates for KeyCorp’s Q4 2017 earnings at $0.35 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.38 EPS, FY2018 earnings at $1.45 EPS and FY2019 earnings at $1.58 EPS.

A number of other equities analysts have also weighed in on the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a research note on Saturday, July 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and set a $20.50 target price on shares of KeyCorp in a report on Friday, July 21st. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Tuesday, July 11th. Finally, Instinet restated a “buy” rating and set a $23.00 target price on shares of KeyCorp in a report on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.31.

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

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. KeyCorp had a return on equity of 9.84% and a net margin of 23.57%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business earned $0.30 earnings per share. KeyCorp’s revenue was up 13.7% on a year-over-year basis.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pier 88 Investment Partners LLC lifted its stake in KeyCorp by 180.0% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 14,000 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 9,000 shares in the last quarter. Rockefeller Financial Services Inc. increased its holdings in shares of KeyCorp by 100.0% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 180,000 shares of the financial services provider’s stock worth $3,388,000 after buying an additional 90,000 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of KeyCorp by 78.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock worth $1,055,000 after buying an additional 24,554 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of KeyCorp during the 3rd quarter worth approximately $919,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of KeyCorp by 14.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 417,616 shares of the financial services provider’s stock worth $7,860,000 after buying an additional 53,764 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ruth Ann M. Gillis purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $17.91 per share, with a total value of $35,820.00. Following the purchase, the director now owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander M. Cutler purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the purchase, the director now directly owns 55,000 shares in the company, valued at approximately $1,020,250. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 16,000 shares of company stock worth $290,540 and have sold 259,409 shares worth $4,794,449. Corporate insiders own 0.65% of the company’s stock.

KeyCorp announced that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board 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)

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