KeyCorp (NYSE: KEY) stock fell -2.73% on Friday to $17.13 against a previous-day closing price of $17.61. With 10.82 million shares changed hands, the volume of the stock remained heavier than its average volume of 9.53 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $17.76 whereas the lowest price it dropped to was $17.13. The 52-week range on KEY shows that it touched its highest point at $27.17 and its lowest point at $16.41 during that stretch. It currently has a 1-year price target of $22.10. With its current market cap of 16.31 billion, KEY has annualized dividend of $0.78 while the current yield stands at 4.55%. Beta for the stock currently stands at 1.29.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KEY was down-trending over the past week, with a drop of -2.89%, but this was down by -8.44% over a month. Three-month performance dropped to -1.61% while six-month performance fell -29.59%. The stock lost -14.05% in the past year, while it has lost -25.94% so far this year. A look at the trailing 12-month EPS for KEY yields 2.28 with Next year EPS estimates of 2.39. For the next quarter, that number is 0.59. This implies an EPS growth rate of 108.60% for this year and 7.81% for next year. EPS is expected to grow by 0.72% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 26.70%.
Float and Shares Shorts:
At present, 932.66 million KEY shares are outstanding with a float of 928.87 million shares on hand for trading. On Jul 14, 2022, short shares totaled 17.23 million, which was 1.85% higher than short shares on Jun 14, 2022. In addition to Mr. Christopher Marrott Gorman as the firm’s Chairman, Pres & CEO, Mr. Donald R. Kimble Jr. serves as its Vice-Chair, CFO & Chief Admin. Officer.
Through their ownership of 84.97% of KEY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.94% of KEY, in contrast to 30.49% held by mutual funds. Shares owned by individuals account for 1.06%. As the largest shareholder in KEY with 11.19% of the stake, The Vanguard Group, Inc. holds 104,338,801 shares worth 104,338,801. A second-largest stockholder of KEY, Capital Research & Management Co, holds 83,176,133 shares, controlling over 8.92% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in KEY, holding 57,540,218 shares or 6.17% stake. With a 2.95% stake in KEY, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 27,505,652 shares are owned by the mutual fund manager. The American Mutual Fund, which owns about 2.32% of KEY stock, is the second-largest Mutual Fund holder. It holds 21,675,919 shares valued at 383.45 million. Vanguard Mid Cap Index Fund holds 2.30% of the stake in KEY, owning 21,410,970 shares worth 378.76 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KEY since 22 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 12 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With KEY analysts setting a high price target of $29.00 and a low target of $17.00, the average target price over the next 12 months is $21.26. Based on these targets, KEY could surge 69.29% to reach the target high and fall by -0.76% to reach the target low. Reaching the average price target will result in a growth of 24.11% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. KEY will report FY 2022 earnings on 01/19/2023. Analysts have provided yearly estimates in a range of $2.30 being high and $2.09 being low. For KEY, this leads to a yearly average estimate of $2.21. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. KeyCorp surprised analysts by $0.03 when it reported $0.54 EPS against a consensus estimate of $0.51. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is $0.65 and the low estimate is $0.54. The average estimate for the next quarter is thus $0.59.
Summary of Insider Activity:
Insiders traded KEY stock several times over the past three months with 4 Buys and 1 Sells. In these transactions, 69,026 shares were bought while 9,378 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 558,800 while 293,010 shares were sold.