KeyCorp (KEY) Expected to Announce Earnings on Thursday

KeyCorp (NYSE:KEY) is anticipated to announce its earnings results before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $0.33 per share and revenue of $1.77 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $14.51 on Thursday. The company’s 50 day simple moving average is $16.27 and its 200 day simple moving average is $17.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The stock has a market capitalization of $15.90 billion, a price-to-earnings ratio of -48.37, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06.

KeyCorp announced that its board has authorized a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 annualized dividend and a dividend yield of 5.65%. KeyCorp’s payout ratio is -273.33%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.67% of the stock is owned by company insiders.

Institutional Trading of KeyCorp

A hedge fund recently bought a new stake in KeyCorp stock. Brighton Jones LLC bought a new position in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 27,767 shares of the financial services provider’s stock, valued at approximately $476,000. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on KEY shares. Barclays boosted their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Wells Fargo & Company lowered their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Morgan Stanley decreased their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Truist Financial lowered their price target on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, March 21st. Finally, Citigroup reduced their price objective on KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

KeyCorp Company Profile

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