KeyCorp (NYSE:KEY) Announces Earnings Results

KeyCorp (NYSE:KEY) issued its earnings results on Thursday. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03), RTT News reports. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share.

KeyCorp Stock Performance

Shares of KEY stock opened at $14.43 on Thursday. The company has a market capitalization of $13.38 billion, a P/E ratio of 16.21 and a beta of 1.29. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $13.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Wedbush reduced their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Morgan Stanley upped their target price on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company boosted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Evercore ISI boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $15.53.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the transaction, the director now owns 81,622 shares in the company, valued at $1,161,481.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of KeyCorp by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of KeyCorp by 2.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 584 shares during the last quarter. BOKF NA increased its holdings in shares of KeyCorp by 3.4% in the fourth quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 665 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of KeyCorp by 4.1% in the first quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 720 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of KeyCorp by 1.4% in the fourth quarter. Neuberger Berman Group LLC now owns 56,920 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 798 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.