KeyCorp (NYSE:KEY) Announces Quarterly Earnings Results

KeyCorp (NYSE:KEYGet Rating) released its quarterly earnings data on Thursday. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.17), Briefing.com reports. KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same period last year, the business earned $0.64 EPS.

KeyCorp Price Performance

KeyCorp stock opened at $17.44 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.76. KeyCorp has a 12-month low of $15.26 and a 12-month high of $27.10. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 9.08 and a beta of 1.29. The business’s 50-day simple moving average is $17.85 and its 200 day simple moving average is $17.76.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Monday, February 27th. KeyCorp’s dividend payout ratio is 42.71%.

Hedge Funds Weigh In On KeyCorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new position in KeyCorp during the first quarter worth about $38,000. Point72 Hong Kong Ltd bought a new position in KeyCorp during the first quarter worth about $40,000. Almanack Investment Partners LLC. bought a new position in KeyCorp during the third quarter worth about $45,000. Covestor Ltd boosted its holdings in KeyCorp by 35.0% during the first quarter. Covestor Ltd now owns 3,875 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,004 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in KeyCorp by 71.8% during the third quarter. CENTRAL TRUST Co now owns 4,786 shares of the financial services provider’s stock worth $77,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 82.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KEY shares. DA Davidson started coverage on KeyCorp in a research note on Tuesday, December 20th. They set a “buy” rating and a $20.00 price objective for the company. TheStreet upgraded KeyCorp from a “c+” rating to a “b” rating in a report on Thursday, November 10th. Barclays upgraded KeyCorp from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $21.00 to $24.00 in a report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on KeyCorp from $23.00 to $20.00 in a report on Friday, January 6th. Finally, Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $20.36 target price on the stock in a report on Tuesday, January 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.06.

KeyCorp Company Profile

(Get Rating)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Earnings History for KeyCorp (NYSE:KEY)

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