KeyCorp (NYSE:KEY – Get Rating) – Analysts at DA Davidson issued their Q2 2023 earnings per share (EPS) estimates for shares of KeyCorp in a research note issued on Friday, April 21st. DA Davidson analyst P. Winter expects that the financial services provider will post earnings per share of $0.42 for the quarter. The consensus estimate for KeyCorp’s current full-year earnings is $1.63 per share. DA Davidson also issued estimates for KeyCorp’s FY2023 earnings at $1.70 EPS and FY2024 earnings at $1.89 EPS.
KEY has been the topic of several other reports. StockNews.com started coverage on KeyCorp in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Morgan Stanley reduced their price objective on KeyCorp from $21.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. Robert W. Baird upgraded KeyCorp from a “neutral” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, March 10th. Barclays reduced their price objective on KeyCorp from $24.00 to $15.00 in a report on Wednesday, April 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on KeyCorp from $23.00 to $20.00 in a report on Friday, January 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.05.
KeyCorp Trading Down 3.7 %
KeyCorp (NYSE:KEY – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. KeyCorp had a return on equity of 15.63% and a net margin of 19.09%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.
Hedge Funds Weigh In On KeyCorp
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of KeyCorp by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock worth $2,488,691,000 after purchasing an additional 1,278,193 shares during the last quarter. BlackRock Inc. raised its stake in shares of KeyCorp by 1.7% in the third quarter. BlackRock Inc. now owns 84,008,314 shares of the financial services provider’s stock valued at $1,345,815,000 after acquiring an additional 1,414,839 shares in the last quarter. State Street Corp raised its stake in shares of KeyCorp by 4.9% in the third quarter. State Street Corp now owns 51,201,153 shares of the financial services provider’s stock valued at $820,242,000 after acquiring an additional 2,399,018 shares in the last quarter. Boston Partners raised its stake in KeyCorp by 0.3% in the fourth quarter. Boston Partners now owns 32,534,320 shares of the financial services provider’s stock valued at $566,984,000 after buying an additional 84,047 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in KeyCorp by 0.6% in the first quarter. Royal Bank of Canada now owns 21,965,131 shares of the financial services provider’s stock valued at $491,578,000 after buying an additional 136,741 shares in the last quarter. Hedge funds and other institutional investors own 82.11% of the company’s stock.
Insider Transactions at KeyCorp
In other news, insider Amy G. Brady sold 45,000 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.58, for a total value of $701,100.00. Following the completion of the sale, the insider now owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Amy G. Brady sold 45,000 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $15.58, for a total value of $701,100.00. Following the completion of the sale, the insider now owns 119,121 shares of the company’s stock, valued at approximately $1,855,905.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 5,352 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $19.95, for a total value of $106,772.40. Following the completion of the sale, the insider now directly owns 194,280 shares of the company’s stock, valued at approximately $3,875,886. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
About KeyCorp
KeyCorp is a bank holding company, which engages in the provision of financial services. It provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.
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