KeyCorp (NYSE:KEY – Get Rating) – Stock analysts at Jefferies Financial Group raised their Q3 2022 earnings per share (EPS) estimates for KeyCorp in a research note issued to investors on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $0.62 per share for the quarter, up from their prior estimate of $0.59. Jefferies Financial Group currently has a “Hold” rating on the stock. Jefferies Financial Group also issued estimates for KeyCorp’s Q4 2022 earnings at $0.62 EPS, FY2022 earnings at $2.35 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.62 EPS and FY2023 earnings at $2.30 EPS.
Other analysts have also issued reports about the stock. Odeon Capital Group upgraded shares of KeyCorp from a “hold” rating to a “buy” rating in a report on Friday, January 7th. StockNews.com started coverage on shares of KeyCorp in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price target on shares of KeyCorp from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Barclays increased their price target on shares of KeyCorp from $24.00 to $26.00 in a research note on Monday, January 3rd. Finally, Bank of America raised shares of KeyCorp from an “underperform” rating to a “buy” rating and increased their price target for the stock from $25.00 to $27.00 in a research note on Wednesday, December 15th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $27.21.
KeyCorp (NYSE:KEY – Get Rating) last posted its earnings results on Thursday, January 20th. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.07. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.80 billion. KeyCorp had a net margin of 33.32% and a return on equity of 15.93%. KeyCorp’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share.
A number of hedge funds have recently modified their holdings of KEY. Strategic Asset Management LLC purchased a new stake in KeyCorp in the third quarter worth approximately $27,000. Kings Point Capital Management purchased a new position in shares of KeyCorp during the 3rd quarter worth $27,000. Jones Financial Companies Lllp purchased a new position in shares of KeyCorp during the 3rd quarter worth $28,000. Farmers & Merchants Investments Inc. boosted its stake in shares of KeyCorp by 141.6% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,244 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 729 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of KeyCorp by 79.5% during the 3rd quarter. Whittier Trust Co. now owns 1,655 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 733 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.
In related news, Director Carlton L. Highsmith sold 5,362 shares of the firm’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $22.86, for a total transaction of $122,575.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, February 28th. KeyCorp’s dividend payout ratio (DPR) is currently 29.66%.
KeyCorp Company Profile (Get Rating)
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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