Positive News Coverage Somewhat Unlikely to Affect KeyCorp (KEY) Stock Price

Headlines about KeyCorp (NYSE:KEY) have been trending positive on Saturday, Accern Sentiment Analysis reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. KeyCorp earned a daily sentiment score of 0.26 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 45.3946031967731 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the media stories that may have impacted Accern’s analysis:

Shares of KeyCorp (NYSE:KEY) traded up 0.22% during mid-day trading on Friday, hitting $17.92. The stock had a trading volume of 12,743,253 shares. The company has a market capitalization of $19.49 billion, a P/E ratio of 17.80 and a beta of 1.12. KeyCorp has a 1-year low of $11.89 and a 1-year high of $19.53. The stock’s 50-day moving average price is $17.63 and its 200 day moving average price is $18.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. KeyCorp had a return on equity of 9.88% and a net margin of 16.62%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company earned $0.27 EPS. KeyCorp’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, analysts predict that KeyCorp will post $1.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 29th were given a dividend of $0.095 per share. The ex-dividend date was Friday, August 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.12%. KeyCorp’s dividend payout ratio is currently 38.78%.

KeyCorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Several research analysts recently commented on the company. Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $21.00 to $22.00 in a research report on Thursday. Wells Fargo & Company assumed coverage on KeyCorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $19.00 target price for the company. BidaskClub cut KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $21.00 target price on shares of KeyCorp in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $22.00 target price on shares of KeyCorp in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Hold” and an average price target of $20.13.

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In other news, Director Bruce D. Broussard bought 2,500 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was purchased at an average cost of $18.17 per share, for a total transaction of $45,425.00. Following the completion of the transaction, the director now owns 12,500 shares of the company’s stock, valued at $227,125. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ruth Ann M. Gillis bought 2,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $17.91 per share, with a total value of $35,820.00. Following the completion of the transaction, the director now directly owns 10,551 shares of the company’s stock, valued at approximately $188,968.41. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 16,000 shares of company stock valued at $290,540 and have sold 259,409 shares valued at $4,794,449. 0.65% of the stock is owned by corporate insiders.

KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Insider Buying and Selling by Quarter for KeyCorp (NYSE:KEY)

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