KeyCorp (NYSE:KEY) – Investment analysts at DA Davidson raised their Q1 2018 earnings per share estimates for KeyCorp in a report issued on Friday. DA Davidson analyst K. Reevey now anticipates that the financial services provider will post earnings of $0.40 per share for the quarter, up from their prior estimate of $0.39. DA Davidson currently has a “Buy” rating and a $26.00 price target on the stock. DA Davidson also issued estimates for KeyCorp’s Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.87 EPS.
A number of other equities research analysts have also recently weighed in on the company. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 price target on shares of KeyCorp in a report on Thursday, December 14th. Finally, Barclays raised their price target on KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.98.
KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. During the same quarter last year, the company earned $0.31 EPS.
Several large investors have recently bought and sold shares of KEY. Quantitative Investment Management LLC boosted its position in shares of KeyCorp by 1,091.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 352,600 shares of the financial services provider’s stock worth $6,607,000 after purchasing an additional 323,000 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of KeyCorp by 14.4% in the 2nd quarter. GSA Capital Partners LLP now owns 42,349 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 5,328 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of KeyCorp by 16.1% in the 2nd quarter. D.A. Davidson & CO. now owns 33,475 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 4,633 shares during the last quarter. TIAA FSB bought a new position in shares of KeyCorp in the 2nd quarter worth $218,000. Finally, Quantbot Technologies LP bought a new position in shares of KeyCorp in the 2nd quarter worth $174,000. Institutional investors and hedge funds own 81.01% of the company’s stock.
In other news, General Counsel Paul N. Harris sold 2,758 shares of KeyCorp stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total value of $51,133.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth R. Gile bought 1,374 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The disclosure for this purchase can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last three months. Insiders own 0.65% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Tuesday, February 27th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a dividend yield of 1.98%. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.
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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