DA Davidson Research Analysts Reduce Earnings Estimates for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY) – Research analysts at DA Davidson lowered their FY2025 earnings estimates for KeyCorp in a report released on Thursday, October 3rd. DA Davidson analyst P. Winter now anticipates that the financial services provider will post earnings of $1.58 per share for the year, down from their previous forecast of $1.64. DA Davidson has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.09 per share.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year.

Several other analysts also recently commented on KEY. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price objective on shares of KeyCorp in a research report on Tuesday, August 13th. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Citigroup boosted their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.91.

KeyCorp Trading Down 0.2 %

KeyCorp stock opened at $16.73 on Monday. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The business’s fifty day simple moving average is $16.19 and its two-hundred day simple moving average is $15.24. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KEY. Ceredex Value Advisors LLC lifted its stake in KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in KeyCorp during the first quarter valued at approximately $42,857,000. Balyasny Asset Management L.P. grew its holdings in KeyCorp by 26,297.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,708,664 shares of the financial services provider’s stock valued at $39,005,000 after buying an additional 2,698,403 shares in the last quarter. National Bank of Canada FI increased its stake in KeyCorp by 1,051.3% in the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after acquiring an additional 2,346,565 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of KeyCorp during the 2nd quarter worth approximately $33,273,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.