KeyCorp (KEY) Forecasted to Post Q1 2019 Earnings of $0.43 Per Share
KeyCorp (NYSE:KEY) – Equities researchers at Wedbush issued their Q1 2019 EPS estimates for shares of KeyCorp in a note issued to investors on Friday. Wedbush analyst P. Winter expects that the financial services provider will post earnings of $0.43 per share for the quarter. Wedbush also issued estimates for KeyCorp’s Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.82 EPS.
Several other research analysts have also issued reports on KEY. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $22.00 target price on shares of KeyCorp in a research note on Wednesday, September 27th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Citigroup raised their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 9th. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. KeyCorp currently has a consensus rating of “Buy” and a consensus target price of $21.98.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter last year, the firm earned $0.31 EPS.
A number of hedge funds have recently made changes to their positions in KEY. Pratt Collard Advisory Partners LLC bought a new position in shares of KeyCorp during the 4th quarter worth approximately $873,000. Smith Graham & Co. Investment Advisors LP grew its stake in shares of KeyCorp by 21.3% during the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 345,920 shares of the financial services provider’s stock worth $6,977,000 after acquiring an additional 60,820 shares in the last quarter. Patten & Patten Inc. TN grew its stake in shares of KeyCorp by 125.9% during the 4th quarter. Patten & Patten Inc. TN now owns 606,197 shares of the financial services provider’s stock worth $12,227,000 after acquiring an additional 337,842 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of KeyCorp by 25.7% during the 4th quarter. State of Alaska Department of Revenue now owns 168,222 shares of the financial services provider’s stock worth $3,391,000 after acquiring an additional 34,390 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its stake in shares of KeyCorp by 27.0% during the 4th quarter. Fox Run Management L.L.C. now owns 36,462 shares of the financial services provider’s stock worth $735,000 after acquiring an additional 7,762 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.
In related news, Director Elizabeth R. Gile bought 1,374 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were purchased at an average cost of $18.23 per share, for a total transaction of $25,048.02. Following the acquisition, the director now owns 24,989 shares of the company’s stock, valued at approximately $455,549.47. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Paul N. Harris sold 2,758 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.42 annualized dividend and a yield of 1.94%. KeyCorp’s dividend payout ratio (DPR) is currently 37.50%.
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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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