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After Plunging -23.58% During Past Week, Is KeyCorp (NYSE: KEY) Still A Buy?

KeyCorp (NYSE:KEY)’s traded shares stood at 76.17 million during the last session, with the company’s beta value hitting 1.31. At the close of trading, the stock’s price was $12.28, to imply an increase of 4.51% or $0.53 in intraday trading. The KEY share’s 52-week high remains $24.71, putting it -101.22% down since that peak but still an impressive 21.82% since price per share fell to its 52-week low of $9.60. The company has a valuation of $11.74B, with an average of 38.05 million shares in intraday trading volume over the past 10 days and average of 15.58 million shares over the past 3 months.

KeyCorp (NYSE:KEY) trade information

After registering a 4.51% upside in the last session, KeyCorp (KEY) has traded red over the past five days. The stock hit a weekly high of 16.19 this Thursday, 03/16/23, jumping 4.51% in its intraday price action. The 5-day price performance for the stock is -23.58%, and -36.31% over 30 days. With these gigs, the year-to-date price performance is -29.51%. Short interest in KeyCorp (NYSE:KEY) saw shorts transact 20.58 million shares and set a 1.6 days time to cover.

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KeyCorp (KEY) estimates and forecasts

Looking at statistics comparing KeyCorp share performance against respective industry, we note that the company has underperformed competitors. KeyCorp (KEY) shares are -30.39% down over the last 6 months, with its year-to-date growth rate lower than industry average at 3.65% against 9.80%. Revenue is forecast to grow 6.70% this quarter before falling -7.40% for the next one. The rating firms project that company’s revenue will grow 3.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 14 analysts is $1.83 billion. Meanwhile, for the quarter ending Jun 2023, a total of 14 analyst(s) estimate revenue growth to $1.87 billion.Earnings reports from the last fiscal year show that sales brought in $1.7 billion and $1.79 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 8.00% before jumping 4.30% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 8.90% for the past 5-year period. While 2023 is set for a -26.60% return in earnings, projections for the next 5 years are at 6.00% annually.

KEY Dividends

KeyCorp has its next earnings report out on April 20. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. KeyCorp has a forward dividend ratio of 0.82, with the share yield ticking at 6.68% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

KeyCorp (NYSE:KEY)’s Major holders

KeyCorp insiders hold 0.36% of total outstanding shares, with institutional holders owning 85.54% of the shares at 85.85% float percentage. In total, 85.54% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 108.81 million shares (or 11.66% of shares), all amounting to roughly $1.74 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 84.01 million shares, or about 9.00% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $1.35 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund as the top two Mutual Funds with the largest holdings of the KeyCorp (KEY) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 27.82 million shares. This is just over 2.98% of the total shares, with a market valuation of $445.7 million. Data from the same date shows that the other fund manager holds a little less at 21.5 million, or 2.30% of the shares, all valued at about 344.49 million.

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