12.03 0.00 (0.00%)
After hours: 4:56PM EDT
|Bid||12.02 x 3000|
|Ask||12.07 x 1200|
|Day's Range||11.90 - 12.16|
|52 Week Range||7.45 - 20.53|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||10.69|
|Earnings Date||Oct 15, 2020 - Oct 19, 2020|
|Forward Dividend & Yield||0.74 (6.16%)|
|Ex-Dividend Date||Aug 31, 2020|
|1y Target Est||13.91|
Joining me for the call are Don Kimble, our chief financial officer; and Mark Midkiff, our chief risk officer. In our deck, we have highlighted several commercial portfolios that continue to receive heightened monitoring in this environment.
Shares of KeyCorp (NYSE:KEY) moved higher by 1.8% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share fell 63.64% year over year to $0.16, which beat the estimate of $0.08.Revenue of $1,717,000,000 rose by 6.58% from the same period last year, which beat the estimate of $1,600,000,000.Guidance KeyCorp hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Details Of The Call Date: Jul 22, 2020View more earnings on KEYTime: 09:00 AMET Webcast URL: https://78449.choruscall.com/dataconf/productusers/key/mediaframe/39133/indexr.htmlPrice Action Company's 52-week high was at $20.52Company's 52-week low was at $7.45Price action over last quarter: Up 14.25%Company Profile With assets over $145 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York. KeyCorp is primarily focused on serving middle-market commercial clients through a hybrid community/corporate bank model.See more from Benzinga * Earnings Scheduled For July 22, 2020 * Benzinga's Top Upgrades, Downgrades For July 10, 2020 * P/E Ratio Insights for KeyCorp(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Increase in fee income and decent C&I loan demand are likely to support KeyCorp's (KEY) Q2 results. Lower rates and higher provisions are likely to have been headwinds.
Shares of KeyCorp Inc (NYSE: KEY) could underperform peers due to the company's greater risk of a dividend cut and higher exposure to industries facing risk of a default in a coronavirus-led downturn, according to BofA Securities.The KeyCorp Analyst: Erika Najarian downgraded KeyCorp from Neutral to Underperform and lowered the price target from $15 to $12.The KeyCorp Thesis: The language of the Fed's income payout test appears focused on the third quarter of 2020, Najarian said in the Friday downgrade note. (See her track record here.)Although KeyCorp has already declared its third-quarter dividend, the Fed's instructions implying that it will revisit the income test for this quarter means that a dividend cut could still be in the offing, the analyst said. The new income test on dividends requires banks to keep quarterly earnings at a level that can support a dividend payout of 19 cents per share. This could create an overhang on KeyCorp's stock due to concerns over its levels of reserves, she said. The new income test also requires banks to "aggressively and appropriately build reserves," which puts KeyCorp's ability to earn dividend at risk, Najarian said. The analyst reduced the earnings estimates for 2020 and 2021 from 70 cents per share to 46 cents per share and from $1 per share to $1.24 per share, respectively.KEY Price Action: Shares of KeyCorp were up 2.9% at $11.34 at last check.Related Links:P/E Ratio Insights for KeyCorp10 Biggest Price Target Changes For FridayLatest Ratings for KEY DateFirmActionFromTo Jul 2020B of A SecuritiesDowngradesNeutralUnderperform Jun 2020Morgan StanleyMaintainsEqual-Weight May 2020ScotiaBankDowngradesSector OutperformSector Perform View More Analyst Ratings for KEY View the Latest Analyst Ratings See more from Benzinga * The Numbers Behind Peloton's Strong Quarter * Keurig Dr Pepper Could Outperform Even In A Recession, Goldman Sachs Says In Upgrade * BofA Raises Levi Strauss Target On Healthy Retail Recovery(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the third quarter of 2020:
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
KeyCorp (NYSE: KEY) announced today its preliminary Stress Capital Buffer requirement provided by the Federal Reserve as part of the 2020 Federal Reserve Capital Stress Testing exercise. The preliminary buffer is 2.5% and represents the minimum buffer required for banks the size of Key. The final Stress Capital Buffer for KeyCorp will be released by the Federal Reserve before it takes effect in the fourth quarter.
Idemitsu Renewables, the US-based renewable energy business of Idemitsu Kosan Co., Ltd, announced today it has closed on debt financing for its 50 MWp Central 40 solar project in Stanislaus County, California.
Right now, KeyCorp Inc. (NYSE: KEY) share price is at $11.90, after a 7.86% drop. Over the past month, the stock went up by 2.06%, but over the past year, it actually fell by 33.27%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio.The stock is currently above from its 52 week low by 59.80%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Regional Banks stocks, and capitalize on the lower share price observed over the year.The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also shows that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future.Most often, an industry will prevail in a particular phase of a business cycle, than other industries.Compared to the aggregate P/E ratio of the 11.2 in the Regional Banks industry, KeyCorp Inc. has a lower P/E ratio of 9.56. Shareholders might be inclined to think that they might perform worse than its industry peers. It's also possible that the stock is undervalued.There are many limitations to price to earnings ratio. It is sometimes difficult to determine the nature of the earnings makeup of a company. Shareholders might not get what they're looking for, from trailing earnings.See more from Benzinga * P/E Ratio Insights for Citigroup * Stocks That Hit 52-Week Lows On Friday * Stocks That Hit 52-Week Highs On Friday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
KeyBank (NYSE: KEY) clients now have the ability to use EasyUp® to help pay down debt in more ways for free than any other automatic saving product on the market. The patent-pending tool, which allows clients to save to pay down debt with each KeyBank debit card purchase, will now let clients select how much money is transferred to their savings. Clients can bump up their savings per transaction as high as $5, or they can dial it back as low as $0.10. Additionally, EasyUp® now features new options for users to direct their automatic savings to make an extra monthly payment toward their debt. Those options include:
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]
KeyCorp (NYSE: KEY) has released its 2019 Corporate Responsibility report, highlighting the company's ongoing legacy as a responsible bank and citizen. Included in the report are the results from the first three years of the National Community Benefits Plan, under which KeyBank has invested over $12.1 billion in communities. KeyBank executives said the investments exceeded the goals for the first three years of the plan by 48%.
KeyCorp's (KEY) robust top-line growth and strong balance-sheet position bode well for growth. However, the near-zero interest rates might hurt.
KeyCorp (NYSE: KEY) will announce second quarter 2020 earnings on Wednesday, July 22, 2020, before the market opens. A conference call will be held at 9:00 a.m. ET to review financial results, strategy and outlook.
Dividends “are broadly safe, but also selectively at risk,” Keefe, Bruyette & Woods analysts said, projecting that 10% of banks in its coverage universe are at risk for a cut.
During Wednesday's Lightning Round of Mad Money one caller asked Jim Cramer about KeyCorp . In the daily bar chart of KEY, below, we can see the crushing February-March decline where the stock was more than cut in half in just a few short weeks. The On-Balance-Volume (OBV) line declined into early April and has not recovered all that much.
KeyCorp (NYSE: KEY) announced today that Chris Gorman, Chairman and Chief Executive Officer, and Don Kimble, Chief Financial Officer, will present at the Deutsche Bank Global Financial Institutions Conference virtually on Tuesday, May 26, 2020, at 3:20 p.m. ET.
This large regional bank's stock has taken a serious hit since COVID-19 hit Wall Street's radar, but there are good reasons to consider adding it to your portfolio now.
In recognition of its continued commitment to and advancement of diversity, equity, and inclusion practices, KeyBank has earned the 35th place on the 2020 DiversityInc "Top 50 Companies for Diversity" list. KeyBank was also recognized on multiple specialty lists, including:
UBS analyst Saul Martinez cut his ratings on Wells Fargo and PNC to sell and KeyCorp to neutral. Losses on loans will hurt the banks, he said.