KeyCorp (NYSE:KEY) – Equities research analysts at DA Davidson reduced their Q2 2019 earnings per share estimates for KeyCorp in a research report issued on Monday, April 22nd. DA Davidson analyst K. Reevey now expects that the financial services provider will post earnings per share of $0.44 for the quarter, down from their prior estimate of $0.48. DA Davidson also issued estimates for KeyCorp’s Q4 2019 earnings at $0.50 EPS, FY2019 earnings at $1.83 EPS and FY2020 earnings at $1.99 EPS.
A number of other equities research analysts have also weighed in on KEY. Zacks Investment Research lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. JPMorgan Chase & Co. lowered shares of KeyCorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $17.00 in a report on Thursday, April 4th. ValuEngine raised shares of KeyCorp from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Nomura raised shares of KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Friday, March 29th. Finally, Argus dropped their price objective on shares of KeyCorp from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $22.46.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.60 billion. KeyCorp had a net margin of 24.18% and a return on equity of 13.16%. KeyCorp’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share.
In other KeyCorp news, insider Robert A. Deangelis sold 31,166 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $17.37, for a total value of $541,353.42. Following the sale, the insider now directly owns 196,478 shares of the company’s stock, valued at $3,412,822.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 4,162 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the sale, the insider now directly owns 128,464 shares in the company, valued at $2,226,281.12. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Bruderman Asset Management LLC acquired a new position in shares of KeyCorp in the fourth quarter worth about $26,000. First Interstate Bank raised its position in shares of KeyCorp by 853.0% in the fourth quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 1,834 shares during the period. Executive Wealth Management LLC acquired a new position in shares of KeyCorp in the fourth quarter worth about $36,000. Lindbrook Capital LLC acquired a new position in shares of KeyCorp in the fourth quarter worth about $41,000. Finally, Doyle Wealth Management acquired a new position in shares of KeyCorp in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 82.52% of the company’s stock.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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