KeyCorp (NYSE:KEY) Posts Earnings Results

KeyCorp (NYSE:KEY) released its earnings results on Thursday. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01, RTT News reports. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter last year, the business earned $0.20 earnings per share.

KeyCorp Stock Down 1.2 %

NYSE KEY opened at $14.08 on Thursday. The stock has a 50 day moving average price of $15.88 and a 200-day moving average price of $17.16. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a market capitalization of $15.43 billion, a P/E ratio of -46.93, a P/E/G ratio of 0.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of KeyCorp in a report on Wednesday, January 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of KeyCorp in a report on Thursday. DA Davidson decreased their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating on shares of KeyCorp in a report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Insider Buying and Selling at KeyCorp

In related news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On KeyCorp

A hedge fund recently bought a new stake in KeyCorp stock. Brighton Jones LLC purchased a new position in KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,767 shares of the financial services provider’s stock, valued at approximately $476,000. Institutional investors own 79.69% of the company’s stock.

KeyCorp announced that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.