KeyCorp (KEY) Expected to Announce Earnings on Thursday

KeyCorp (NYSE:KEY - Get Free Report) will likely be posting its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect KeyCorp to post earnings of $0.33 per share and revenue of $1.77 billion for the quarter. Persons that wish to listen to the company's earnings conference call can do so using this link.

KeyCorp Price Performance

Shares of NYSE:KEY traded up $0.33 during trading on Tuesday, hitting $14.39. 2,320,184 shares of the stock were exchanged, compared to its average volume of 13,009,457. The company has a market cap of $15.76 billion, a PE ratio of -47.81, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a fifty day moving average price of $16.03 and a two-hundred day moving average price of $17.20.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.70%. KeyCorp's dividend payout ratio is currently -273.33%.

KeyCorp announced that its board has approved a stock buyback program on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

A hedge fund recently bought a new stake in KeyCorp stock. Brighton Jones LLC acquired a new stake in shares of KeyCorp (NYSE:KEY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 27,767 shares of the financial services provider's stock, valued at approximately $476,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KEY shares. Barclays lifted their price objective on KeyCorp from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their target price on shares of KeyCorp from $18.50 to $16.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price objective on shares of KeyCorp from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.31.

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.