DA Davidson Has Positive Outlook for KeyCorp FY2024 Earnings

KeyCorp (NYSE:KEY) – Research analysts at DA Davidson increased their FY2024 EPS estimates for shares of KeyCorp in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings per share of $1.10 for the year, up from their prior estimate of $1.07. DA Davidson currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.09 per share. DA Davidson also issued estimates for KeyCorp’s FY2025 earnings at $1.58 EPS.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion.

A number of other equities analysts have also recently issued reports on the stock. Barclays lifted their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price objective on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI increased their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Wedbush raised their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.16.

KeyCorp Price Performance

KeyCorp stock opened at $17.37 on Monday. The firm has a market capitalization of $17.22 billion, a PE ratio of 1,737.00, a P/E/G ratio of 1.00 and a beta of 1.25. KeyCorp has a 52 week low of $12.94 and a 52 week high of $20.04. The firm’s 50-day simple moving average is $18.29 and its 200 day simple moving average is $16.53. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.72%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KEY. Wolff Wiese Magana LLC grew its stake in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares in the last quarter. American Capital Advisory LLC bought a new position in KeyCorp during the third quarter worth $28,000. Larson Financial Group LLC boosted its holdings in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC acquired a new position in KeyCorp in the third quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new stake in KeyCorp during the third quarter valued at $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.