KeyCorp (KEY) to Release Quarterly Earnings on Thursday

KeyCorp (NYSE:KEY) will likely be releasing its earnings data before the market opens on Thursday, April 17th. Analysts expect KeyCorp to post earnings of $0.33 per share and revenue of $1.77 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

KeyCorp Stock Up 2.3 %

KEY stock opened at $14.04 on Tuesday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $15.38 billion, a price-to-earnings ratio of -46.80, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The company has a fifty day moving average price of $16.03 and a 200 day moving average price of $17.20.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a $0.205 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.84%. KeyCorp’s payout ratio is -273.33%.

KeyCorp declared that its board has initiated a share buyback program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the completion of the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

An institutional investor recently bought a new position in KeyCorp stock. Brighton Jones LLC bought a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,767 shares of the financial services provider’s stock, valued at approximately $476,000. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday, January 22nd. Truist Financial reduced their target price on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, March 21st. Morgan Stanley lowered their target price on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Finally, DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

About KeyCorp

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.