DA Davidson Has Optimistic Outlook of KeyCorp Q4 Earnings

KeyCorp (NYSE:KEY) – Equities researchers at DA Davidson upped their Q4 2024 earnings estimates for KeyCorp in a report issued on Thursday, December 19th. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings per share of $0.33 for the quarter, up from their prior forecast of $0.31. DA Davidson currently has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.09 per share.

Several other research firms also recently weighed in on KEY. 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. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday, November 7th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $17.00 in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.16.

KeyCorp Stock Performance

KEY opened at $16.81 on Friday. The business has a fifty day simple moving average of $18.29 and a 200-day simple moving average of $16.45. The firm has a market cap of $16.66 billion, a PE ratio of 1,681.00, a P/E/G ratio of 1.00 and a beta of 1.25. 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 has a fifty-two week low of $12.94 and a fifty-two week high of $20.04.

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

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.88%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

Insider Activity

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

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently bought and sold shares of KEY. Financial Advocates Investment Management boosted its position in shares of KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 602 shares during the period. HM Payson & Co. boosted its holdings in KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 650 shares during the period. Graypoint LLC boosted its holdings in KeyCorp by 4.7% in the 3rd quarter. Graypoint LLC now owns 14,954 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 675 shares during the period. Vontobel Holding Ltd. grew its position in KeyCorp by 2.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of KeyCorp by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 32,361 shares of the financial services provider’s stock worth $542,000 after purchasing an additional 705 shares during the period. 79.69% of the stock is currently owned by institutional investors.

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.