Wedbush Analysts Increase Earnings Estimates for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY) – Research analysts at Wedbush increased their FY2025 earnings per share (EPS) estimates for shares of KeyCorp in a research report issued to clients and investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $1.65 per share for the year, up from their prior estimate of $1.60. Wedbush currently has a “Neutral” rating and a $14.00 price target on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.18 per share.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period in the previous year, the firm earned $0.38 EPS.

Several other research firms also recently issued reports on KEY. Piper Sandler boosted their price target on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. The Goldman Sachs Group boosted their price target on KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Raymond James started coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. Jefferies Financial Group upgraded KeyCorp from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $17.00 in a research report on Tuesday, January 9th. Finally, DA Davidson cut their target price on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

KeyCorp Stock Performance

KEY opened at $15.80 on Friday. The business has a fifty day simple moving average of $14.43 and a 200 day simple moving average of $12.92. The company has a market capitalization of $14.65 billion, a PE ratio of 17.75 and a beta of 1.27. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. bought a new stake in shares of KeyCorp during the 4th quarter valued at about $272,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of KeyCorp during the 4th quarter valued at about $6,277,000. Wellington Management Group LLP boosted its position in shares of KeyCorp by 104.4% during the 4th quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock valued at $5,867,000 after purchasing an additional 208,077 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in shares of KeyCorp during the 4th quarter valued at about $157,000. Finally, Quarry LP bought a new stake in shares of KeyCorp during the 4th quarter valued at about $38,000. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at $277,130. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.205 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.82 dividend on an annualized basis and a yield of 5.19%. KeyCorp’s payout ratio is presently 92.13%.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.