Q1 2022 Earnings Forecast for KeyCorp (NYSE:KEY) Issued By Wedbush

KeyCorp (NYSE:KEY – Get Rating) – Research analysts at Wedbush cut their Q1 2022 earnings estimates for KeyCorp in a note issued to investors on Tuesday, April 12th. Wedbush analyst P. Winter now expects that the financial services provider will post earnings per share of $0.48 for the quarter, down from their previous estimate of $0.49. Wedbush also issued estimates for KeyCorp’s Q4 2022 earnings at $0.59 EPS and Q3 2023 earnings at $0.62 EPS.

KeyCorp (NYSE:KEY – Get Rating) last released its earnings results on Thursday, January 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.07. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.80 billion. KeyCorp had a return on equity of 15.93% and a net margin of 33.32%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS.

Other analysts have also issued research reports about the company. Barclays raised their target price on KeyCorp from $24.00 to $26.00 in a report on Monday, January 3rd. Wells Fargo & Company upgraded KeyCorp from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $23.00 to $27.00 in a research report on Monday. Jefferies Financial Group cut KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday. Bank of America upgraded KeyCorp from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $27.00 in a research report on Wednesday, December 15th. Finally, Citigroup restated a “neutral” rating on shares of KeyCorp in a research report on Thursday, March 24th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $27.21.

KEY opened at $20.58 on Thursday. The firm has a market capitalization of $18.94 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 0.51 and a beta of 1.32. The stock’s 50 day moving average price is $23.85 and its two-hundred day moving average price is $23.79. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.78. KeyCorp has a 12-month low of $17.90 and a 12-month high of $27.17.

Several institutional investors and hedge funds have recently modified their holdings of KEY. Assenagon Asset Management S.A. bought a new stake in shares of KeyCorp in the third quarter worth about $235,000. Kestra Advisory Services LLC increased its holdings in shares of KeyCorp by 3.3% in the third quarter. Kestra Advisory Services LLC now owns 43,505 shares of the financial services provider’s stock worth $941,000 after acquiring an additional 1,371 shares in the last quarter. Westpac Banking Corp increased its holdings in shares of KeyCorp by 26.8% in the third quarter. Westpac Banking Corp now owns 134,214 shares of the financial services provider’s stock worth $2,902,000 after acquiring an additional 28,389 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of KeyCorp in the third quarter worth about $391,000. Finally, Huntington National Bank increased its holdings in shares of KeyCorp by 2.8% in the third quarter. Huntington National Bank now owns 57,425 shares of the financial services provider’s stock worth $1,242,000 after acquiring an additional 1,560 shares in the last quarter. 82.83% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Carlton L. Highsmith sold 5,362 shares of the business’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $22.86, for a total value of $122,575.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

About KeyCorp (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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