KeyCorp (NYSE:KEY) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of KeyCorp in a research report issued to clients and investors on Tuesday. Jefferies Group analyst K. Usdin anticipates that the financial services provider will post earnings per share of $0.36 for the quarter. Jefferies Group currently has a “Buy” rating and a $21.00 target price on the stock. Jefferies Group also issued estimates for KeyCorp’s Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.37 EPS and Q4 2018 earnings at $0.39 EPS.
A number of other research firms also recently commented on KEY. Zacks Investment Research upgraded KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods upgraded KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Monday, July 10th. Instinet reiterated a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a research report on Wednesday, July 12th. UBS AG upgraded KeyCorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Monday, July 10th. Finally, DA Davidson upgraded KeyCorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $21.00 in a research report on Thursday, July 20th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $20.03.
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KeyCorp (NYSE:KEY) traded down 0.91% during mid-day trading on Wednesday, hitting $18.48. The company’s stock had a trading volume of 719,317 shares. KeyCorp has a 52-week low of $12.20 and a 52-week high of $19.53. The stock has a market cap of $20.10 billion, a P/E ratio of 18.35 and a beta of 1.13. The company’s 50 day moving average is $17.90 and its 200-day moving average is $18.11.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s revenue was up 52.1% compared to the same quarter last year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its stake in shares of KeyCorp by 0.5% during the second quarter. Ballentine Partners LLC now owns 12,113 shares of the financial services provider’s stock valued at $223,000 after buying an additional 66 shares during the last quarter. Comerica Securities Inc. grew its stake in shares of KeyCorp by 0.7% during the second quarter. Comerica Securities Inc. now owns 11,535 shares of the financial services provider’s stock valued at $216,000 after buying an additional 83 shares during the last quarter. Essex Financial Services Inc. grew its stake in shares of KeyCorp by 0.3% during the second quarter. Essex Financial Services Inc. now owns 39,160 shares of the financial services provider’s stock valued at $734,000 after buying an additional 117 shares during the last quarter. Dividend Assets Capital LLC grew its stake in shares of KeyCorp by 0.5% during the second quarter. Dividend Assets Capital LLC now owns 24,475 shares of the financial services provider’s stock valued at $459,000 after buying an additional 125 shares during the last quarter. Finally, HM Payson & Co. grew its stake in shares of KeyCorp by 1.2% during the second quarter. HM Payson & Co. now owns 13,041 shares of the financial services provider’s stock valued at $244,000 after buying an additional 150 shares during the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Angela G. Mago sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $18.48, for a total transaction of $92,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Ann M. Gillis bought 2,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $17.91 per share, for a total transaction of $35,820.00. Following the purchase, the director now owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 16,000 shares of company stock worth $290,540 and have sold 259,409 shares worth $4,794,449. Corporate insiders own 0.65% of the company’s stock.
KeyCorp declared that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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