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risk, allowing investors to make better decisions and streamline their work ow. KeyCorp saw a decline in short interest during the month of May. During the month of May, KeyCorp's stock price has reached a high of $11.34 and a low of $8.54. Bank regulators get to go inside the bank, and they get to see whats actually going in, Jacques said. Read the conference call transcript. Earnings for KeyCorp are expected to grow by 4.24% in the coming year, from $1.65 to $1.72 per share. KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. How can I listen to KeyCorp's earnings call? Unlike the failed banks, the major banks operating in the Cleveland area have at least half of their money insured. Insiders that own company stock include Amy G Brady, Andrew J Paine III, Angela G Mago, Brian L Fishel, Carlton L Highsmith, Christopher M Gorman, Douglas M Schosser, Jamie Warder, Kenneth C Gavrity, Mark W Midkiff, Richard J Hipple, Ruth Ann M Gillis, Trina M Evans and Victor B Alexander. The question on everyone's mind is whether this represents the Fed hiking rates until something breaks or if it was simply an isolated incident that the Fed will address in its ongoing efforts to maintain price stability. In this article, we'll discuss this tricky situation and assess why it may or may not make sense to add the KEY ticker to a (dividend) portfolio. The only reason why I did not buy KEY is that I am not looking to own more than one regional bank in a 22-stock portfolio. ET You're reading a free article with opinions that may differ from The Motley. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. KeyCorp (NYSE:KEY) pays an annual dividend of $0.82 per share and currently has a dividend yield of 8.77%. KeyCorp's stock is owned by many different retail and institutional investors. The broader banking industry faces several challenges, including low-interest rates, increasing competition from fintech companies, and regulatory pressure. Investors need to be aware of that. You have already added five stocks to your watchlist. Trading at roughly 5.06x. Please log in to your account or sign up in order to add this asset to your watchlist. (844) 978-6257. They also touted their strong capital and liquidity levels. To report a factual error in this article. Moreover, the credit quality of its loans remained high. One share of KEY stock can currently be purchased for approximately $9.48. (NYSE: KEY) saw its stock price fall 10.1% in April, according to S&P Global Market Intelligence. Shares of Comerica (NYSE: CMA) and Truist Financial (NYSE: TFC) had at one point today fallen by roughly 5% or more . Current defaults are mainly due to mismanagement. According to the issued ratings of 15 analysts in the last year, the consensus rating for KeyCorp stock is Hold based on the current 1 sell rating, 7 hold ratings and 7 buy ratings for KEY. What is Chris Gorman's approval rating as KeyCorp's CEO? And so, investors want to move their money to avoid that. Currently, there are 900.09 million shares of KeyCorp stock available for purchase. KeyBank, as well as other regional banks, are in a much different, more diversified and stronger financial position.. KeyCorp. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Please log in to your account or sign up in order to add this asset to your watchlist. Sign-up to receive the latest news and ratings for KeyCorp and its competitors with MarketBeat's FREE daily newsletter. Premium Research for KEY Zacks Rank Strong Sell 5 Zacks Industry Rank Bottom 5% (238 out of 251) Zacks Sector Rank Bottom 0% (16 out of 16) Style Scores A Value | B Growth | D Momentum | B VGM. A valuation method that multiplies the price of a company's stock by the total number of outstanding shares. The Swiss bank, with five times more deposits than SVB, fell up to 28% on Wednesday (3/15) after its Saudi Arabian investors made clear that they would not provide more liquidity. Regional banks' stocks are rallying. Other key leadership team members include Vice Chairman and Chief Risk Officer Mark Midkiff and Chief Financial Officer Don Kimble. View our KEY earnings forecast. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. While we note KeyCorp's EBIT margins were flat over the last year, revenue grew by a solid 37% to US$7.6b. KeyCorp is down 5.17% from its previous closing price of $12.37. Get daily stock ideas from top-performing Wall Street analysts. Learn More. Just 18% of total loans were consumer mortgages. KeyCorp. U.S. Treasury bonds and other investments with relatively low interest rates. === BREAKING === "Chilling War Games Show US Forces Crushed" - FOX NEWS After losing to China in repeated war games, U.S. military to spend billions on new "living missile" for armed forces. It also didn't help that 93% of the bank's $161 billion deposits were uninsured while the bank did not hedge sufficiently against interest rate risks. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 4/4/2023), Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (updated 7/1/2023). Something that makes a bank special. I bought the TCBI and KEY preferred shares. Argus is buy with 21.00 price target. As swaps and short-term treasuries mature and reprice, the company anticipates an annualized net interest income benefit of $1.1 billion if they were to reprice existing short-term treasuries and swaps. Factor Rotation ETF (FCTR), Federated Hermes U.S. Strategic Dividend ETF (FDV), SPDR S&P Bank ETF (KBE) and Invesco High Yield Equity Dividend Achievers ETF (PEY). The . $28 billion of these hedges consist of interest rate swaps, where players exchange fixed against floating rates with counterparties. In other words, a sustainable economic recovery would make KEY even more undervalued. KeyCorp Stock Moves -0.1%: What You Should Know - Yahoo Finance. Adding that to outsiders and analysts, it more of a guess. 326 E 8th St #105, Sioux Falls, SD 57103 Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. KeyCorp Stock Tumbles. The firm operates through the Consumer Bank and Commercial Bank segments. KeyCorp's net income from its continuing operations in the first quarter of 2023 was lower than in the fourth quarter of 2022 (down 23% QoQ), as Fed funds rate increased further in 2023. One of the stocks I avoided in the past was KeyCorp (NYSE:KEY), a giant among the Midwest's regional banks. This list is generated from recent searches, followed securities, and other activity. KeyCorp has a P/B Ratio of 0.81. Several analysts lowered their price targets for the bank after the earnings release. 14 equities research analysts have issued twelve-month price objectives for KeyCorp's stock. So in turn, analysts are looking at what are called call reports and balance sheets, Jacques said, trying to gauge how many bonds each bank has, and if they may suffer a huge loss on their portfolios. (Some people there get upset if you confuse KeyCorp/KeyBank with KeyBanc Capital Markets (KBCM). This indicates that the company will be able to sustain or increase its dividend. This is the highest percentage of any bank except SVB, and provides KEY with a stronger cash cushion than any other bank. While that bank had benefited like no other bank from the massive surge in startup funding in California, it hadn't done its homework. I think Buffett who has been talking to the Feds over the bank crisis may make a play on Key like he did with BAC. KeyCorp's roots trace back 190 years to Albany, New York. Changes in consumer preferences and technological disruption could impact the company's ability to attract and retain customers. Daugiau informacijos apie tai, kaip naudojame js asmens duomenis, rasite ms privatumo politikoje ir slapuk politikoje. My articles provide insightful analysis and actionable investment ideas, with a particular emphasis on dividend growth opportunities. KeyCorp's stock was trading at $17.42 at the start of the year. Top institutional shareholders include BlackRock Inc. (9.60%), State Street Corp (4.92%), FMR LLC (2.22%), Federated Hermes Inc. (2.21%), Geode Capital Management LLC (2.07%) and Charles Schwab Investment Management Inc. (2.01%). Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. Cleveland, Ohio-based KeyCorp is down more than 30%. These key metrics indicate that the stock may be undervalued relative to its peers. Charles Schwab Investment Management, Inc. Chairman, President & Chief Executive Officer, Chief Diversity, Equity & Inclusion Officer, Chief Human Resources Officer & Executive VP, Chief of Staff & Director-Corporate Centre, Executive VP & President-Key Institutional Bank, Executive Vice President & Head-Digital Banking, Head-Key Consumer Bank & Executive Vice President, President-Commercial Bank & Real Estate Capital, Secretary, Senior Legal Officer & Executive VP, Registration on or use of this site constitutes acceptance of our. The countrys largest banks saw gains at first early in the week. The fixed and adjustable interest rates are stated as competitive, however KeyBank doesn't disclose past or current APR numbers. KeyBank Secured Credit Card Improves Financial Journeys for More Than 20,000 Program Graduates, KeyCorp (NYSE:KEY) Price Target Lowered to $13.00 at Barclays, Research Analysts Issue Forecasts for KeyCorp's Q2 2023 Earnings (NYSE:KEY), KeyCorp (KEY) Flat As Market Sinks: What You Should Know. Motley Fool Issues Rare "All. than the rest of US stocks over the past 3 months, See historical performance and comparison. Without trust, it doesn't work. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Yet KeyBank without question cleared the fraudulent check in the amount of $916.03 without my consent or knowledge. While profit is not necessarily a social good, it's easy to admire a business that can consistently produce it. YouTubes privacy policy is available here and YouTubes terms of service is available here. Snowflake Score. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association . If you purchase a product or register for an account through one of the links on our site, we may receive compensation. The ex-dividend date of this dividend is Friday, May 26th. Hunter Perkins Capital Management LLC Acquires New Shares in KeyCorp (NYSE:KEY), KeyCorp (NYSE:KEY) Receives Consensus Recommendation of "Hold" from Brokerages, KEYCORP ANNOUNCES 2024 QUARTERLY EARNINGS CONFERENCE CALL DATES, Former KeyCorp Executive, E.J. The Consumer Bank segment KeyCorp (KEY) News Today $9.85 -0.08 (-0.81%) (As of 04:34 PM ET) Compare Today's Range $9.68 $9.90 50-Day Range $8.93 $12.38 52-Week Range $8.53 $20.30 Volume 12.23 million shs Average Volume 21.99 million shs Market Capitalization $9.21 billion P/E Ratio 5.57 Dividend Yield 8.32% Price Target $15.50 It means a lot to see insiders invested in the business, but I find myself wondering if remuneration policies are shareholder friendly. How often does KeyCorp pay dividends? The dividend yield is now 7.0%, which is a more than decent premium. This article by Simply Wall St is general in nature. Doesn't that mean the treasuries these banks are holding are increasing in value? Looking ahead, KeyCorp has many growth opportunities that it can pursue to continue to expand its business. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Chris Gorman has an approval rating of 85% among the company's employees. In addition, "we believe the bank's risk-reduction measures taken in recent years will result in manageable credit costs as trends normalize," George wrote. Companies like Apple, Meta and Coca-Cola all saw small gains. I'm also preserving some cash for investments in dividend-growth stocks (as discussed in this article). KeyBank's stock closed at $11.53 a share Friday, down 26% from a week ago. In the world of bank regulation, capital is a buffer to cushion against unexpected losses, Jacques said. The business's quarterly revenue was up 1.1% on a year-over-year basis. According to the current price, KeyCorp is 109.60% away from the 52-week low. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Key is a nearly 200-year-old financial institution with safe, sound and strong fundamentals, Chris Gorman, KeyBanks CEO, said in a statement. Investors have been selling shares in other banks out of concern that they, too, could fail, causing their share prices to drop. It certainly is nice to see that KeyCorp has managed to grow EPS by 22% per year over three years. The other day, someone asked me what I look for in a regional bank. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. So they withdrew their deposits, so you had to sell those securities at a loss to pay them back. Dave Kovaleski has no position in any of the stocks mentioned. Disclaimer search Compare to US Bancorp $32.42 USB1.68% Huntington Bancshares Incorporated $10.40 HBAN1.86% Comerica. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. KEY fundamental analysis. This payout ratio is at a healthy, sustainable level, below 75%. Big depositors can move hundreds of millions in a few minutes. In both the United States and Europe, bank stocks are under tremendous pressure. No risks detected for KEY from our risk checks. KeyCorp is down 6.3% from its previous closing price of $9.53. * Average Estimates in Million (e.g. They have been deliberate and intentional in managing their interest rate risk with a longer-term perspective, which has resulted in less current benefit but a significant upside in the next two years. By browsing this site, we may share your information with our social media partners in accordance with our Privacy Policy. There are currently 1 sell rating, 6 hold ratings and 7 buy ratings for the stock. ET today. Huntington Bank, based in Columbus, was down 16.8%. However, there are also potential risks and challenges that KeyCorp may face in the coming years. KeyCorp had a net margin of 19.09% and a trailing twelve-month return on equity of 15.63%. 14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for KeyCorp in the last year. KeyCorp. Argus says favorable roe and strong credit quality along with efficiency metrics. KeyCorp Stock Tumbles. KeyCorp, the holding company for KeyBank, saw net income decline year over year in the first quarter. And one specific asset analysts are looking at is bonds, Jacques said. It pays a dividend yield of 8.77%, putting its dividend yield in the top 25% of dividend-paying stocks. 22,094,200. As of May 31st, there was short interest totaling 34,000,000 shares, a decline of 7.9% from the May 15th total of 36,920,000 shares. shore up the banking industry following the collapses. If you have an ad-blocker enabled you may be blocked from proceeding. *The average price target includes all analyst analysis, not just the most recent analysis presented in the chart. Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story stocks' without revenue, let alone profit. Think of it like a reverse bank run, said Jonathan Ernest, an economics professor at Case Western Reserve University. He made the case that the company would continue to benefit from its balance sheet and interest rate positioning in the coming years. Among them was Citigroup, which maintained its buy rating but lowered the price target to $16 from $20. Columbus-based Huntington Banks stock closed at $10.34, down about 23% in the past week. As a result, the net interest margin dropped to 2.47% from 2.73% at the end of the fourth quarter. KeyCorp's valuation is currently depressed, providing a potential investment opportunity as it recovers from the financial crisis. Does that not help mitigate the risk in banks? Is Now the Time to Buy? KeyCorp has a PEG Ratio of 1.32. Right now YTM on TCBIO 24% and KEYI is 18% (back of the envelope math, I could be a little off but close). Supply chain re-shoring is likely to shine new light on the Midwest's capabilities in manufacturing and related activities. Net interest income was $1.1 billion, up 8.4% year over year, but down 9.9% from the previous quarter. However, deposits were only down 1.6% from the fourth quarter. KeyBank's stock closed at $11.53 a share Friday, down 26% from a week ago. You can reach him at smcdonnell@cleveland.com Read previous stories at this link. Identify stocks that meet your criteria using seven unique stock screeners. The P/E ratio of KeyCorp is 5.36, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.85. KeyCorp. Term loans. The bank's stock price fell precipitously after the company released its first-quarter earnings on April 20. Burke, Joins Citymark Capital Advisory Board, KeyCorp (KEY) Stock Moves -0.1%: What You Should Know, KeyBank Partners With Operation HOPE To Provide Homebuyer Education & Financial Education to the Communities It Serves, U.S. PNC, headquartered in. Bank of America Global Research has a $17.50 price target, in their latest report dated March 17, 2023. The problem, Jacques said, is that outsiders are acting on limited information. He will fund them with billions in a PIPE deal (private placement in a public enterprise) in exchange for a Suoer preferred with a hefty guaranteed dividend yield. The company is scheduled to release its next quarterly earnings announcement on Thursday, July 20th 2023. JPMorgan Chases stock price fell by 1.8% on Monday, while Bank of America saw a 5.8% decline. So, while I do like the long-term risk/reward, investors need to remain cautious. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Investors, according to the Associated Press, are worried that another bank could be the next to fail. *Average returns of all recommendations since inception. Not all of KeyCorp's revenue this year is revenue from operations, so keep in mind the revenue and margin numbers I've used might not be the best representation of the underlying business. If you like to see insider buying, too, then this free list of growing companies that insiders are buying, could be exactly what you're looking for. So, please be aware of that. ), Regional Banks Showing Signs Of Recovery As Stocks Rebound (KEY), KeyBank: KeyCorp 2022 ESG Report Highlights Teammate Volunteerism, KeyCorp 2022 ESG Report Highlights Teammate Volunteerism, Epoch Investment Partners Inc. KeyCorp is a leading dividend payer. Not financial advice. Only 0.54% of the stock of KeyCorp is held by insiders. Get in touch with us directly. Huge banks have been more heavily scrutinized by regulators, according to the AP, and only saw small declines.

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