KeyCorp to Post Q1 2023 Earnings of $0.51 Per Share, DA Davidson Forecasts (NYSE:KEY)

KeyCorp (NYSE:KEYGet Rating) – Equities researchers at DA Davidson issued their Q1 2023 earnings per share (EPS) estimates for KeyCorp in a report released on Monday, January 23rd. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings of $0.51 per share for the quarter. DA Davidson currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $2.12 per share. DA Davidson also issued estimates for KeyCorp’s FY2023 earnings at $2.11 EPS and FY2024 earnings at $2.14 EPS.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley cut their price target on KeyCorp from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday. TheStreet upgraded KeyCorp from a “c+” rating to a “b” rating in a research note on Thursday, November 10th. Odeon Capital Group upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $20.36 price target for the company in a research note on Tuesday, January 10th. StockNews.com cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Wednesday, September 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Hold” and an average target price of $19.92.

KeyCorp Trading Down 0.8 %

Shares of NYSE:KEY opened at $17.93 on Wednesday. KeyCorp has a 12-month low of $15.26 and a 12-month high of $27.10. The stock has a market cap of $16.73 billion, a PE ratio of 9.34, a P/E/G ratio of 1.42 and a beta of 1.29. The business has a 50 day moving average of $17.81 and a 200-day moving average of $17.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.76.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.17). KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same period in the prior year, the firm posted $0.64 EPS.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.82 annualized dividend and a dividend yield of 4.57%. KeyCorp’s dividend payout ratio (DPR) is presently 42.71%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in KeyCorp by 65.9% in the second quarter. Federated Hermes Inc. now owns 13,608,794 shares of the financial services provider’s stock valued at $234,479,000 after purchasing an additional 5,406,238 shares during the period. Marshall Wace LLP increased its holdings in KeyCorp by 2,228.2% in the third quarter. Marshall Wace LLP now owns 2,593,491 shares of the financial services provider’s stock valued at $41,548,000 after purchasing an additional 2,482,098 shares during the period. State Street Corp increased its holdings in KeyCorp by 4.9% in the third quarter. State Street Corp now owns 51,201,153 shares of the financial services provider’s stock valued at $820,242,000 after purchasing an additional 2,399,018 shares during the period. Prudential Financial Inc. increased its holdings in KeyCorp by 211.6% in the first quarter. Prudential Financial Inc. now owns 3,274,208 shares of the financial services provider’s stock valued at $73,277,000 after purchasing an additional 2,223,588 shares during the period. Finally, Boston Partners increased its holdings in KeyCorp by 5.6% in the third quarter. Boston Partners now owns 32,450,273 shares of the financial services provider’s stock valued at $520,135,000 after purchasing an additional 1,718,852 shares during the period. 82.11% of the stock is currently owned by institutional investors and hedge funds.

About KeyCorp

(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.

Featured Articles

Earnings History and Estimates for KeyCorp (NYSE:KEY)

Receive News & Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related companies with MarketBeat.com's FREE daily email newsletter.