KeyCorp to Post Q1 2023 Earnings of $0.51 Per Share, DA Davidson Forecasts (NYSE:KEY)

KeyCorp (NYSE:KEYGet Rating) – Analysts at DA Davidson issued their Q1 2023 earnings estimates for shares of KeyCorp in a research note issued to investors on Monday, January 23rd. DA Davidson analyst P. Winter forecasts that the financial services provider will post earnings per share of $0.51 for the quarter. DA Davidson has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $2.12 per share. DA Davidson also issued estimates for KeyCorp’s FY2023 earnings at $2.11 EPS and FY2024 earnings at $2.14 EPS.

KeyCorp (NYSE:KEYGet Rating) last released its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.17). KeyCorp had a return on equity of 15.27% and a net margin of 22.46%. During the same quarter in the prior year, the company earned $0.64 earnings per share.

KEY has been the topic of a number of other reports. TheStreet upgraded KeyCorp from a “c+” rating to a “b” rating in a research note on Thursday, November 10th. Morgan Stanley decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Monday. Royal Bank of Canada decreased their price target on shares of KeyCorp from $29.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Finally, Barclays raised shares of KeyCorp from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $21.00 to $24.00 in a report on Tuesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.92.

KeyCorp Trading Down 0.8 %

KeyCorp stock opened at $17.93 on Wednesday. The stock has a market cap of $16.73 billion, a P/E ratio of 9.34, a PEG ratio of 1.42 and a beta of 1.29. KeyCorp has a fifty-two week low of $15.26 and a fifty-two week high of $27.10. The firm’s fifty day moving average price is $17.81 and its 200-day moving average price is $17.77. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.84 and a current ratio of 0.84.

Institutional Investors Weigh In On KeyCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fieldpoint Private Securities LLC increased its stake in shares of KeyCorp by 677.7% in the second quarter. Fieldpoint Private Securities LLC now owns 1,431 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,247 shares during the period. Guardian Wealth Advisors LLC purchased a new position in KeyCorp during the third quarter valued at $25,000. Evoke Wealth LLC lifted its holdings in KeyCorp by 131.8% during the second quarter. Evoke Wealth LLC now owns 1,602 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 911 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in KeyCorp by 93.0% during the second quarter. Brown Brothers Harriman & Co. now owns 1,631 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 786 shares in the last quarter. Finally, CNB Bank grew its position in shares of KeyCorp by 3,380.8% in the second quarter. CNB Bank now owns 1,810 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 1,758 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.82 dividend on an annualized basis and a yield of 4.57%. KeyCorp’s payout ratio is 42.71%.

KeyCorp Company Profile

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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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Earnings History and Estimates for KeyCorp (NYSE:KEY)

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