KeyCorp (KEY) to Release Quarterly Earnings on Thursday

KeyCorp (NYSE:KEY) is projected to issue its quarterly earnings data before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $0.33 per share and revenue of $1.77 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

KeyCorp Stock Up 1.4 %

KEY opened at $14.25 on Wednesday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a 50 day moving average price of $15.96 and a 200 day moving average price of $17.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The company 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 Dividend Announcement

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

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

Insiders Place Their Bets

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KeyCorp

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

Analyst Ratings Changes

KEY has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price target on KeyCorp from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Truist Financial lowered their price target on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating for the company in a report on Friday, March 21st. Barclays lifted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Stephens restated an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Baird R W raised KeyCorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.31.

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.