KeyCorp (KEY) Releases Earnings Results, Meets Expectations
KeyCorp (NYSE:KEY) announced its quarterly earnings data on Thursday. The financial services provider reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36, Bloomberg Earnings reports. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. During the same period last year, the business posted $0.31 EPS.
Shares of KeyCorp (NYSE KEY) traded down $0.06 during trading on Thursday, reaching $21.26. 11,754,700 shares of the company’s stock traded hands, compared to its average volume of 8,830,991. KeyCorp has a 52 week low of $16.28 and a 52 week high of $21.71. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market cap of $22,390.00, a P/E ratio of 18.49, a P/E/G ratio of 1.63 and a beta of 1.09.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Tuesday, February 27th will be given a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, February 26th. KeyCorp’s payout ratio is currently 36.52%.
In other KeyCorp news, insider Andrew J. Paine III sold 46,854 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $18.56, for a total transaction of $869,610.24. Following the transaction, the insider now directly owns 110,052 shares of the company’s stock, valued at approximately $2,042,565.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total transaction of $139,764.00. Following the transaction, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold a total of 57,212 shares of company stock worth $1,060,508 over the last three months. 0.65% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Zions Bancorporation boosted its holdings in shares of KeyCorp by 2,277.5% in the third quarter. Zions Bancorporation now owns 5,706 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 5,466 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in shares of KeyCorp in the third quarter valued at about $132,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of KeyCorp in the third quarter valued at about $145,000. Sun Life Financial INC boosted its holdings in shares of KeyCorp by 80,370.0% in the second quarter. Sun Life Financial INC now owns 8,047 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 8,037 shares in the last quarter. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of KeyCorp in the third quarter valued at about $173,000. 81.01% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on KEY shares. CIBC reaffirmed a “buy” rating on shares of KeyCorp in a research report on Friday, December 8th. Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Stephens raised shares of KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Thursday, December 14th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $21.50 target price on shares of KeyCorp in a research report on Thursday, December 14th. Finally, ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. KeyCorp has an average rating of “Buy” and a consensus target price of $21.56.
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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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