KeyCorp (KEY) Releases Quarterly Earnings Results, Hits Expectations
KeyCorp (NYSE:KEY) posted its quarterly earnings data on Thursday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36, Bloomberg Earnings reports. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. During the same period last year, the business posted $0.31 earnings per share.
Shares of KeyCorp (NYSE KEY) traded down $0.47 during mid-day trading on Thursday, hitting $20.79. The company had a trading volume of 10,727,790 shares, compared to its average volume of 8,830,991. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market cap of $22,390.00, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.63 and a beta of 1.09. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.71.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Tuesday, February 27th will be paid a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Monday, February 26th. KeyCorp’s dividend payout ratio is currently 36.52%.
A number of hedge funds and other institutional investors have recently modified their holdings of KEY. Boston Partners bought a new stake in KeyCorp during the 3rd quarter valued at $356,111,000. Janus Henderson Group PLC raised its position in KeyCorp by 6,189.4% during the 2nd quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after purchasing an additional 8,962,913 shares in the last quarter. Vanguard Group Inc. raised its position in KeyCorp by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. Samlyn Capital LLC bought a new stake in KeyCorp during the 2nd quarter valued at $57,111,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in KeyCorp by 36.1% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 7,486,279 shares of the financial services provider’s stock valued at $140,892,000 after purchasing an additional 1,985,847 shares in the last quarter. 81.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on KEY shares. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of KeyCorp in a research note on Thursday, December 14th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.50 price objective on shares of KeyCorp in a research note on Thursday, December 14th. Finally, Citigroup raised their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.56.
KeyCorp Company Profile
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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