KeyCorp (NYSE:KEY) to Post Q2 2024 Earnings of $0.26 Per Share, DA Davidson Forecasts

KeyCorp (NYSE:KEY) – Research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of KeyCorp in a research note issued to investors on Friday, April 19th. DA Davidson analyst P. Winter anticipates that the financial services provider will post earnings per share of $0.26 for the quarter. DA Davidson has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.17 per share. DA Davidson also issued estimates for KeyCorp’s FY2024 earnings at $1.13 EPS and FY2025 earnings at $1.63 EPS.

Several other research firms have also recently commented on KEY. Morgan Stanley increased their price objective on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Wedbush dropped their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Evercore ISI raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Barclays cut their target price on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

KeyCorp Stock Up 0.1 %

KeyCorp stock opened at $14.64 on Monday. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The stock has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $13.46. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 18.53 and a beta of 1.29.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the transaction, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last quarter. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC grew its holdings in KeyCorp by 1.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 69,213 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 704 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of KeyCorp by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its position in shares of KeyCorp by 3.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 20,927 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 742 shares during the last quarter. Czech National Bank grew its stake in KeyCorp by 0.5% during the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock valued at $2,605,000 after acquiring an additional 788 shares in the last quarter. Finally, CWM LLC increased its holdings in KeyCorp by 1.7% in the 1st quarter. CWM LLC now owns 50,656 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 837 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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.