KeyCorp (KEY) Releases Earnings Results, Misses Expectations By $-0.01 EPS

KeyCorp (KEY) reported quarterly earnings results on Tuesday, Jul-26-2016. The company reported $0.27 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.28. The company posted revenue of $1078.00 million in the period, compared to analysts expectations of $1082.02 million. The company’s revenue was down -.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Resumed by JP Morgan to “Overweight” on Jul 25, 2016. KeyCorp was Upgraded by FBR Capital to ” Outperform” on Jul 11, 2016. KeyCorp was Upgraded by Morgan Stanley to ” Overweight” on Jul 5, 2016.

KeyCorp opened for trading at $11.77 and hit $11.84 on the upside on Wednesday, eventually ending the session at $11.82, with a gain of 0.85% or 0.1 points. The heightened volatility saw the trading volume jump to 93,76,435 shares. Company has a market cap of $9,957 M.

Investors should note that on Jul 13, 2016, KeyCorp announced a cash dividend of $0.0850. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Sep 15, 2016.

In a different news, on May 23, 2016, Charles P Cooley (director) purchased 5,000 shares at $12.41 per share price. According to the SEC, on May 18, 2016, Alexander M Cutler (director) purchased 15,000 shares at $11.86 per share price. On May 9, 2016, Elizabeth R. Gile (director) purchased 13,000 shares at $11.87 per share price, according to the Form-4 filing with the securities and exchange commission.

KeyCorp is a bank holding company. The Bank operates through its subsidiary KeyBank National Association which is engaged in providing banking services. Through KeyBank and other subsidiaries the Bank provides a range of retail and commercial banking commercial leasing investment management consumer finance commercial mortgage servicing and special servicing and investment banking products and services. The Bank provides these services to individual corporate and institutional clients. The Bank operates in two segments: Key Community Bank which serves individuals and small to mid-sized businesses by offering a variety of deposit investment lending credit card and personalized wealth management products and business advisory services and Key Corporate Bank is a full-service corporate and investment bank focused on serving the needs of middle market clients in seven industry sectors: consumer energy healthcare industrial public sector real estate and technology.


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