KeyCorp (NYSE:KEY) – Equities researchers at Oppenheimer issued their FY2019 EPS estimates for shares of KeyCorp in a research report issued to clients and investors on Tuesday. Oppenheimer analyst B. Chittenden anticipates that the financial services provider will post earnings of $1.91 per share for the year. Oppenheimer currently has a “Hold” rating on the stock.
Other research analysts have also recently issued reports about the company. CIBC reissued a “buy” rating on shares of KeyCorp in a research note on Friday, December 8th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.56.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Tuesday, November 28th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, November 27th. This is a positive change from KeyCorp’s previous quarterly dividend of $0.10. KeyCorp’s dividend payout ratio is presently 36.52%.
In related news, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average price of $18.23 per share, for a total transaction of $25,048.02. Following the completion of the acquisition, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now owns 110,052 shares in the company, valued at approximately $2,042,565.12. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock worth $1,060,508 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beach Investment Management LLC. bought a new stake in KeyCorp in the second quarter valued at approximately $241,000. Blair William & Co. IL raised its stake in KeyCorp by 1.4% in the second quarter. Blair William & Co. IL now owns 14,953 shares of the financial services provider’s stock valued at $280,000 after buying an additional 204 shares during the period. Pacer Advisors Inc. raised its stake in KeyCorp by 8.3% in the second quarter. Pacer Advisors Inc. now owns 24,510 shares of the financial services provider’s stock valued at $459,000 after buying an additional 1,885 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in KeyCorp by 1.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 48,505 shares of the financial services provider’s stock valued at $909,000 after buying an additional 877 shares during the period. Finally, Principal Financial Group Inc. raised its stake in KeyCorp by 7.3% in the second quarter. Principal Financial Group Inc. now owns 1,732,296 shares of the financial services provider’s stock valued at $32,463,000 after buying an additional 117,117 shares during the period. Institutional investors and hedge funds own 80.91% of the company’s stock.
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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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