KeyCorp (NYSE:KEY) Issues Quarterly Earnings Results

KeyCorp (NYSE:KEY - Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01, Zacks reports. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the firm posted $0.25 EPS. The firm's revenue was up 20.6% compared to the same quarter last year.

KeyCorp Stock Performance

Shares of KEY traded down $0.03 during mid-day trading on Friday, reaching $18.48. 18,291,161 shares of the company's stock were exchanged, compared to its average volume of 15,438,244. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $20.25 billion, a PE ratio of -263.64, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The business's fifty day simple moving average is $16.96 and its 200-day simple moving average is $16.45. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.82 annualized dividend and a yield of 4.44%. KeyCorp's dividend payout ratio is currently -482.35%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KEY shares. Cowen began coverage on shares of KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Barclays cut their target price on shares of KeyCorp from $21.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. TD Cowen began coverage on shares of KeyCorp in a research note on Thursday, May 15th. They issued a "hold" rating and a $18.00 price target on the stock. Robert W. Baird cut shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 target price on the stock. in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp presently has an average rating of "Hold" and an average price target of $19.24.

Insider Buying and Selling

In other KeyCorp news, insider Amy G. Brady sold 19,000 shares of the firm's stock in a transaction 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 approximately $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the completion of the sale, the director directly owned 37,177 shares of the company's stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On KeyCorp

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

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.