FY2027 EPS Estimates for KeyCorp Reduced by Zacks Research

KeyCorp (NYSE:KEY - Free Report) - Research analysts at Zacks Research lowered their FY2027 EPS estimates for KeyCorp in a report released on Tuesday, July 1st. Zacks Research analyst R. Department now expects that the financial services provider will post earnings of $1.71 per share for the year, down from their previous estimate of $1.72. The consensus estimate for KeyCorp's current full-year earnings is $1.50 per share.

Other equities research analysts have also recently issued research reports about the stock. Bank of America boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. Cowen initiated coverage on KeyCorp in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Wall Street Zen raised KeyCorp from a "sell" rating to a "hold" rating in a report on Monday, April 21st. Wells Fargo & Company downgraded KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Finally, Truist Financial decreased their price target on KeyCorp from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.97.

KeyCorp Stock Performance

KeyCorp stock traded up $0.26 during midday trading on Thursday, reaching $18.46. The stock had a trading volume of 13,695,000 shares, compared to its average volume of 13,073,208. The firm has a market capitalization of $20.23 billion, a PE ratio of -108.56, a P/E/G ratio of 0.68 and a beta of 1.11. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. The firm's 50-day moving average price is $16.10 and its 200 day moving average price is $16.32. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. KeyCorp had a negative net margin of 0.12% and a positive return on equity of 9.43%. The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the firm posted $0.20 EPS.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in the business. Arvest Investments Inc. purchased a new position in KeyCorp in the 2nd quarter worth $945,000. Voya Investment Management LLC grew its stake in shares of KeyCorp by 0.3% during the first quarter. Voya Investment Management LLC now owns 276,264 shares of the financial services provider's stock valued at $4,417,000 after buying an additional 713 shares during the last quarter. Strs Ohio purchased a new position in shares of KeyCorp in the first quarter worth about $1,431,000. Intrua Financial LLC increased its holdings in shares of KeyCorp by 22.9% in the first quarter. Intrua Financial LLC now owns 42,283 shares of the financial services provider's stock worth $676,000 after buying an additional 7,877 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of KeyCorp by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,356,598 shares of the financial services provider's stock valued at $117,632,000 after acquiring an additional 172,151 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider owned 82,523 shares of the company's stock, valued at $1,327,795.07. This represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Ramani purchased 10,000 shares of KeyCorp stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the transaction, the insider directly owned 10,000 shares of the company's stock, valued at approximately $137,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.52% of the company's stock.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, May 27th were paid a $0.205 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.44%. KeyCorp's dividend payout ratio is presently -482.35%.

KeyCorp declared that its board has initiated a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.