Zacks Research Analysts Lower Earnings Estimates for KeyCorp

KeyCorp (NYSE:KEY) – Research analysts at Zacks Research lowered their Q2 2027 earnings per share (EPS) estimates for shares of KeyCorp in a note issued to investors on Wednesday, October 8th. Zacks Research analyst Team now expects that the financial services provider will earn $0.44 per share for the quarter, down from their previous forecast of $0.45. The consensus estimate for KeyCorp’s current full-year earnings is $1.50 per share.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen raised their price objective on KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Truist Financial raised their price objective on KeyCorp from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Citigroup reiterated a “neutral” rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Finally, Bank of America raised their price objective on KeyCorp from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.53.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.19 on Friday. The business has a 50 day moving average price of $18.58 and a 200 day moving average price of $17.02. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The company has a market cap of $18.85 billion, a price-to-earnings ratio of -245.57, a PEG ratio of 0.64 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. KeyCorp’s dividend payout ratio (DPR) is currently -1,171.43%.

Insider Activity at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the sale, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock valued at $3,299,664 in the last three months. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently made changes to their positions in KEY. Activest Wealth Management increased its stake in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares during the period. Tompkins Financial Corp acquired a new stake in shares of KeyCorp in the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of KeyCorp in the 1st quarter valued at $28,000. Allworth Financial LP increased its stake in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares during the period. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of KeyCorp in the 1st quarter valued at $34,000. 79.69% of the stock is owned by institutional investors and hedge funds.

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.