What is DA Davidson's Forecast for KeyCorp Q1 Earnings?

KeyCorp (NYSE:KEY - Free Report) - Equities research analysts at DA Davidson dropped their Q1 2025 earnings per share estimates for KeyCorp in a research note issued on Wednesday, April 2nd. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings per share of $0.32 for the quarter, down from their previous forecast of $0.34. DA Davidson currently has a "Buy" rating and a $21.00 target price on the stock. The consensus estimate for KeyCorp's current full-year earnings is $1.50 per share. DA Davidson also issued estimates for KeyCorp's FY2025 earnings at $1.49 EPS and FY2026 earnings at $1.74 EPS.

KEY has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday. Citigroup lowered their target price on KeyCorp from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Truist Financial cut their price target on KeyCorp from $19.00 to $18.00 and set a "hold" rating for the company in a report on Friday, March 21st. Stephens reissued an "overweight" rating and set a $20.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $18.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.31.

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KeyCorp Price Performance

KEY stock traded down $0.67 during midday trading on Thursday, reaching $13.45. The stock had a trading volume of 23,356,702 shares, compared to its average volume of 12,715,053. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company's fifty day simple moving average is $16.67 and its 200 day simple moving average is $17.37. The company has a market cap of $14.74 billion, a price-to-earnings ratio of -44.83, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of KeyCorp during the fourth quarter worth approximately $153,235,000. Vanguard Group Inc. grew its holdings in KeyCorp by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider's stock worth $2,004,228,000 after acquiring an additional 7,754,576 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $63,540,000. FMR LLC raised its holdings in shares of KeyCorp by 7.1% in the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider's stock valued at $761,556,000 after purchasing an additional 2,938,405 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of KeyCorp during the 4th quarter worth $42,827,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were acquired at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company's stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.

KeyCorp declared that its board has approved a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Tuesday, March 4th. KeyCorp's payout ratio is -273.33%.

KeyCorp Company Profile

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.