Q1 2024 EPS Estimates for KeyCorp (NYSE:KEY) Reduced by Wedbush

KeyCorp (NYSE:KEY) – Equities researchers at Wedbush dropped their Q1 2024 earnings per share (EPS) estimates for shares of KeyCorp in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.21. Wedbush has a “Neutral” rating and a $14.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.18 per share. Wedbush also issued estimates for KeyCorp’s Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.45 EPS.

A number of other brokerages also recently commented on KEY. Raymond James began coverage on shares of KeyCorp in a research note on Monday, January 8th. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price target on shares of KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Barclays dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. DA Davidson dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. Finally, Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

KeyCorp Stock Up 1.0 %

Shares of NYSE KEY opened at $15.80 on Thursday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 17.75 and a beta of 1.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The business’s 50 day moving average is $14.43 and its two-hundred day moving average is $12.92.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period in the previous year, the firm posted $0.38 EPS.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in shares of KeyCorp in the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its stake in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp during the 3rd quarter valued at approximately $28,000. First United Bank & Trust acquired a new stake in KeyCorp during the 4th quarter valued at approximately $29,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of KeyCorp during the 4th quarter worth approximately $31,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp 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 owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. In the last three months, insiders sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.61% of the company’s stock.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend was Monday, February 26th. KeyCorp’s payout ratio is 92.13%.

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.