KeyCorp (NYSE:KEY) Receiving Somewhat Favorable News Coverage, Report Shows
Press coverage about KeyCorp (NYSE:KEY) has trended somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. KeyCorp earned a daily sentiment score of 0.04 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 49.6918343368364 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Vantiv, Inc. Class A (VNTV) Hits a 52-Week High (fishinghd.com)
- KeyCorp Comments on T-Mobile US, Inc.’s Q3 2017 Earnings (TMUS) (lazeresportes.com)
- KeyCorp Weighs in on NXP Semiconductors NV’s Q3 2017 Earnings (NASDAQ:NXPI) (expressnewsline.com)
- The Bank Insiders Are Buying Again: Should You? (nasdaq.com)
- KeyCorp Lowers Pharmerica Corporation (PMC) to Overweight (elcumanes.com)
Shares of KeyCorp (NYSE:KEY) traded down 2.76% during midday trading on Thursday, hitting $17.62. The stock had a trading volume of 10,471,838 shares. KeyCorp has a one year low of $11.89 and a one year high of $19.53. The firm has a 50 day moving average price of $18.55 and a 200 day moving average price of $18.27. The stock has a market cap of $19.16 billion, a PE ratio of 17.50 and a beta of 1.11.
KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company earned $0.27 EPS. The business’s quarterly revenue was up 52.1% on a year-over-year basis. On average, equities analysts forecast that KeyCorp will post $1.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, August 25th. KeyCorp’s dividend payout ratio (DPR) is presently 38.78%.
KeyCorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several analysts recently weighed in on KEY shares. FBR & Co restated an “outperform” rating and issued a $22.00 price objective (up from $21.00) on shares of KeyCorp in a report on Thursday, April 20th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of KeyCorp in a report on Friday, April 21st. Nomura restated a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a report on Friday, April 21st. Instinet restated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of KeyCorp in a report on Sunday, April 23rd. Finally, Keefe, Bruyette & Woods set a $20.00 price objective on KeyCorp and gave the company a “hold” rating in a report on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.74.
In other KeyCorp news, Director Bruce D. Broussard bought 2,500 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were acquired at an average price of $18.17 per share, with a total value of $45,425.00. Following the transaction, the director now owns 12,500 shares of the company’s stock, valued at $227,125. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ruth Ann M. Gillis bought 3,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $54,000.00. Following the transaction, the director now directly owns 10,551 shares in the company, valued at approximately $189,918. The disclosure for this purchase can be found here. In the last three months, insiders have bought 14,000 shares of company stock worth $254,720 and have sold 259,409 shares worth $4,794,449. 0.65% of the stock is currently owned by company insiders.
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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