KeyCorp (NYSE:KEY) – Investment analysts at Oppenheimer boosted their FY2018 earnings estimates for shares of KeyCorp in a research note issued to investors on Tuesday. Oppenheimer analyst B. Chittenden now anticipates that the financial services provider will post earnings per share of $1.69 for the year, up from their previous forecast of $1.53. Oppenheimer currently has a “Hold” rating on the stock.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. KeyCorp’s revenue for the quarter was up 13.7% on a year-over-year basis.
Shares of KeyCorp (NYSE KEY) traded up $0.08 during trading hours on Friday, hitting $20.32. 10,503,300 shares of the company were exchanged, compared to its average volume of 8,600,134. The company has a market capitalization of $21,780.00, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.59.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th were paid a $0.105 dividend. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.42 annualized dividend and a dividend yield of 2.07%. This is an increase from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is currently 36.52%.
In other news, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now owns 24,989 shares in the company, valued at approximately $455,549.47. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Paul N. Harris sold 2,758 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. In the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. Insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Zions Bancorporation grew its holdings in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 5,466 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new position in shares of KeyCorp in the third quarter worth about $132,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of KeyCorp in the third quarter worth about $145,000. Sun Life Financial INC grew its holdings in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 8,037 shares during the last quarter. Finally, AllSquare Wealth Management LLC bought a new position in shares of KeyCorp in the third quarter worth about $173,000. 80.91% of the stock is currently owned by institutional investors and hedge funds.
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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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