FY2027 EPS Estimates for KeyCorp Lifted by Zacks Research

Key Points

• Analysts at Zacks Research have increased their FY2027 EPS estimates for KeyCorp to $1.78, up from $1.71, indicating positive growth potential.
• KeyCorp reported $0.35 EPS in its latest quarter, surpassing expectations and reflecting a 20.6% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.205 per share, representing a yield of 4.5%, with the payment scheduled for September 15th.

KeyCorp (NYSE:KEY - Free Report) - Analysts at Zacks Research upped their FY2027 EPS estimates for shares of KeyCorp in a research note issued to investors on Tuesday, August 12th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $1.78 for the year, up from their prior forecast of $1.71. The consensus estimate for KeyCorp's current full-year earnings is $1.50 per share.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same period last year, the company posted $0.25 EPS. KeyCorp's revenue was up 20.6% on a year-over-year basis.

KEY has been the subject of a number of other reports. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a research report on Wednesday, July 2nd. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Truist Financial lifted their target price on shares of KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods decreased their target price on shares of KeyCorp from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Finally, Citigroup reaffirmed a "neutral" rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of "Hold" and an average price target of $19.39.

KeyCorp Stock Down 0.7%

NYSE KEY traded down $0.13 during trading hours on Thursday, reaching $18.09. 6,429,596 shares of the company's stock traded hands, compared to its average volume of 16,953,756. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The firm has a market cap of $19.84 billion, a PE ratio of -258.87, a PEG ratio of 0.63 and a beta of 1.13. The firm has a 50-day simple moving average of $17.51 and a 200 day simple moving average of $16.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 dividend on an annualized basis and a yield of 4.5%. KeyCorp's dividend payout ratio is presently -1,171.43%.

Insider Activity at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares of the company's stock, valued at approximately $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Amy G. Brady sold 19,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. This represents a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,149 shares of company stock valued at $2,738,230 over the last 90 days. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of KeyCorp by 6.1% in the second quarter. NewEdge Advisors LLC now owns 101,535 shares of the financial services provider's stock worth $1,769,000 after purchasing an additional 5,859 shares during the last quarter. Azora Capital LP grew its holdings in KeyCorp by 131.4% during the 2nd quarter. Azora Capital LP now owns 5,369,008 shares of the financial services provider's stock worth $93,528,000 after acquiring an additional 3,049,155 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in KeyCorp by 5.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 143,422 shares of the financial services provider's stock worth $2,498,000 after acquiring an additional 7,919 shares in the last quarter. Natixis grew its holdings in KeyCorp by 40.7% during the 2nd quarter. Natixis now owns 208,755 shares of the financial services provider's stock worth $3,637,000 after acquiring an additional 60,390 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in KeyCorp by 12.2% during the 2nd quarter. California Public Employees Retirement System now owns 1,559,656 shares of the financial services provider's stock worth $27,169,000 after acquiring an additional 168,974 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

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.

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