KeyCorp (KEY) Announces Earnings Results

KeyCorp (NYSE:KEY) issued its earnings results on Thursday. The financial services provider reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38, Bloomberg Earnings reports. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. KeyCorp’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS.

Shares of NYSE:KEY opened at $19.55 on Friday. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.40. The stock has a market cap of $20,015.16, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

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A number of equities research analysts have weighed in on the company. Vining Sparks reaffirmed a “buy” rating and set a $25.00 target price on shares of KeyCorp in a research report on Friday, April 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $23.00 target price on shares of KeyCorp in a research report on Thursday, April 5th. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine lowered KeyCorp from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.14.

In other KeyCorp news, insider Craig A. Buffie sold 11,819 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares in the company, valued at approximately $1,098,487.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher M. Gorman sold 56,038 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. Insiders have sold a total of 92,857 shares of company stock worth $1,953,548 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of KEY. GSA Capital Partners LLP grew its stake in KeyCorp by 21.1% during the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after purchasing an additional 8,937 shares during the last quarter. New England Research & Management Inc. boosted its stake in shares of KeyCorp by 12.8% in the fourth quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock worth $1,026,000 after buying an additional 5,750 shares during the last quarter. Grassi Investment Management boosted its stake in shares of KeyCorp by 439.7% in the fourth quarter. Grassi Investment Management now owns 126,840 shares of the financial services provider’s stock worth $2,558,000 after buying an additional 103,340 shares during the last quarter. Trust Co purchased a new stake in shares of KeyCorp in the third quarter worth about $345,000. Finally, LGT Capital Partners LTD. purchased a new stake in shares of KeyCorp in the fourth quarter worth about $18,207,000. Institutional investors and hedge funds own 81.71% of the company’s stock.

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KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Earnings History for KeyCorp (NYSE:KEY)

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