Q3 2024 EPS Estimates for KeyCorp (NYSE:KEY) Decreased by DA Davidson

KeyCorp (NYSE:KEY - Free Report) - Stock analysts at DA Davidson decreased their Q3 2024 earnings estimates for shares of KeyCorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings of $0.28 per share for the quarter, down from their prior estimate of $0.30. DA Davidson has a "Buy" rating and a $18.00 price objective on the stock. The consensus estimate for KeyCorp's current full-year earnings is $1.10 per share. DA Davidson also issued estimates for KeyCorp's FY2024 earnings at $1.08 EPS.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 14th. Citigroup boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Wedbush boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, September 24th. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $18.00 price target on shares of KeyCorp in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.91.

KeyCorp Price Performance

Shares of KEY traded up $0.41 during trading hours on Friday, reaching $16.78. 9,472,971 shares of the stock traded hands, compared to its average volume of 14,592,384. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.39. The company's 50-day moving average price is $16.17 and its two-hundred day moving average price is $15.21. The company has a market cap of $15.83 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter last year, the company posted $0.27 EPS. The company's revenue was down 4.3% compared to the same quarter last year.

Hedge Funds Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board lifted its holdings in KeyCorp by 8.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider's stock valued at $342,924,000 after purchasing an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider's stock valued at $288,403,000 after buying an additional 2,213,872 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider's stock valued at $176,631,000 after buying an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider's stock valued at $149,299,000 after buying an additional 300,339 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider's stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by company insiders.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.82 annualized dividend and a yield of 4.89%. KeyCorp's dividend payout ratio is presently 103.80%.

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.