DA Davidson Issues Positive Estimate for KeyCorp Earnings

KeyCorp (NYSE:KEY - Free Report) - Research analysts at DA Davidson upped their Q4 2024 earnings estimates for shares of KeyCorp in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings per share of $0.33 for the quarter, up from their prior forecast of $0.31. 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 $1.09 per share.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%.

A number of other equities research analysts have also issued reports on KEY. Citigroup lowered shares of KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Piper Sandler increased their price objective on KeyCorp from $19.00 to $22.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. UBS Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Baird R W downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 14th. Finally, Evercore ISI lifted their price objective on KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of "Moderate Buy" and an average price target of $19.16.

KeyCorp Stock Up 1.7 %

Shares of NYSE KEY traded up $0.28 during midday trading on Friday, hitting $17.09. The company's stock had a trading volume of 28,981,748 shares, compared to its average volume of 13,511,465. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 1,709.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.25. The business's fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $16.47. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04.

Institutional Trading of KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in KEY. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of KeyCorp by 14.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider's stock valued at $10,928,000 after acquiring an additional 85,052 shares during the period. MBB Public Markets I LLC purchased a new position in KeyCorp in the 2nd quarter valued at approximately $981,000. Dai ichi Life Insurance Company Ltd acquired a new position in KeyCorp during the third quarter worth $798,000. Prospector Partners LLC purchased a new stake in KeyCorp during the third quarter worth $9,630,000. Finally, Natixis Advisors LLC boosted its position in KeyCorp by 17.9% during the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider's stock worth $11,549,000 after purchasing an additional 104,689 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, December 3rd. KeyCorp's dividend payout ratio (DPR) is 8,200.00%.

About KeyCorp

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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.