FY2024 EPS Estimates for KeyCorp Increased by Zacks Research

KeyCorp (NYSE:KEY) – Zacks Research upped their FY2024 earnings estimates for KeyCorp in a report released on Thursday, December 12th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $1.09 for the year, up from their prior estimate of $1.08. The consensus estimate for KeyCorp’s current full-year earnings is $1.09 per share. Zacks Research also issued estimates for KeyCorp’s Q3 2025 earnings at $0.40 EPS, FY2025 earnings at $1.53 EPS and FY2026 earnings at $1.74 EPS.

A number of other brokerages have also commented on KEY. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Barclays raised their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Piper Sandler increased their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, UBS Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.16.

KeyCorp Stock Up 0.4 %

KeyCorp stock opened at $18.13 on Monday. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The company has a market cap of $17.97 billion, a PE ratio of 1,813.00, a PEG ratio of 1.00 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $18.24 and its two-hundred day simple moving average is $16.39.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEY. Azora Capital LP acquired a new position in shares of KeyCorp during the 3rd quarter worth approximately $92,413,000. Assenagon Asset Management S.A. lifted its position in KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after buying an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC boosted its stake in KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after buying an additional 3,517,755 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp by 164.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after acquiring an additional 2,900,971 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Activity

In other news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.205 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.52%. KeyCorp’s dividend payout ratio (DPR) is 8,200.00%.

About KeyCorp

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.