KeyCorp (KEY) to Release Quarterly Earnings on Thursday

KeyCorp (NYSE:KEY) is expected to be posting its quarterly earnings results 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. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

KeyCorp Stock Performance

KEY opened at $14.25 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $15.96 and its 200-day moving average is $17.18. The stock has a market cap of $15.62 billion, a PE ratio of -47.51, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 5.75%. The ex-dividend date was Tuesday, March 4th. KeyCorp’s payout ratio is currently -273.33%.

KeyCorp declared that its Board of Directors has approved a share repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KEY. Morgan Stanley reduced their price objective on shares of KeyCorp from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Baird R W raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Citigroup lowered their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Stephens restated an “overweight” rating and issued a $20.00 target price on shares of KeyCorp in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

Insider Transactions at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank bought 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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 the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 27,767 shares of the financial services provider’s stock, valued at approximately $476,000. Hedge funds and other institutional investors 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.