Q1 2024 EPS Estimates for KeyCorp Decreased by Wedbush (NYSE:KEY)

KeyCorp (NYSE:KEY - Free Report) - Analysts at Wedbush decreased their Q1 2024 earnings per share estimates for shares of KeyCorp in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $0.20 per share for the quarter, down from their prior forecast of $0.21. Wedbush has a "Neutral" rating and a $14.00 price objective on the stock. The consensus estimate for KeyCorp's current full-year earnings is $1.18 per share. Wedbush also issued estimates for KeyCorp's Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.45 EPS.

A number of other equities analysts have also recently commented on KEY. Barclays dropped their target price on KeyCorp from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Friday, January 19th. Keefe, Bruyette & Woods dropped their price objective on KeyCorp from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Friday, January 19th. Wells Fargo & Company boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday. The Goldman Sachs Group boosted their price objective on KeyCorp from $13.50 to $15.00 and gave the company a "buy" rating in a report on Monday, December 18th. Finally, DA Davidson dropped their price objective on KeyCorp from $17.00 to $16.00 and set a "buy" rating for the company in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has an average rating of "Moderate Buy" and an average price target of $15.00.

KeyCorp Trading Up 1.0 %

Shares of KeyCorp stock traded up $0.16 on Thursday, reaching $15.80. The company had a trading volume of 10,560,953 shares, compared to its average volume of 16,989,725. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 17.75 and a beta of 1.27. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. The firm's 50-day moving average price is $14.43 and its two-hundred day moving average price is $12.92. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86.

KeyCorp (NYSE:KEY - Get Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same quarter in the previous year, the business earned $0.38 EPS.

Institutional Trading of KeyCorp

A number of hedge funds have recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. boosted its position in KeyCorp by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider's stock worth $460,000 after purchasing an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in KeyCorp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider's stock worth $424,000 after purchasing an additional 584 shares in the last quarter. BOKF NA boosted its position in KeyCorp by 3.4% during the fourth quarter. BOKF NA now owns 20,170 shares of the financial services provider's stock worth $351,000 after purchasing an additional 665 shares in the last quarter. Cetera Investment Advisers boosted its position in KeyCorp by 4.1% during the first quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider's stock worth $412,000 after purchasing an additional 720 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in KeyCorp by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider's stock worth $178,000 after purchasing an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the sale, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is currently owned by insiders.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.82 annualized dividend and a yield of 5.19%. KeyCorp's payout ratio is presently 92.13%.

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.