Wedbush Research Analysts Lift Earnings Estimates for KeyCorp (NYSE:KEY)

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

Several other research analysts also recently commented on KEY. Piper Sandler lifted their price objective on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Company boosted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their price target on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. DA Davidson reduced their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Finally, Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

KeyCorp Stock Up 1.0 %

KEY opened at $15.80 on Friday. The company has a market cap of $14.65 billion, a P/E ratio of 17.75 and a beta of 1.27. The business’s 50-day moving average price is $14.43 and its 200-day moving average price is $12.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86.

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

KeyCorp Dividend Announcement

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

Insider Activity

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction on Friday, February 16th. The stock was 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 in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisor Networks LLC lifted its stake in KeyCorp by 37.9% in the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 3,504 shares during the last quarter. Sei Investments Co. increased its position in shares of KeyCorp by 12.9% during the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after acquiring an additional 135,193 shares during the period. Aviva PLC increased its position in shares of KeyCorp by 177.0% during the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock worth $11,750,000 after acquiring an additional 335,457 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of KeyCorp during the first quarter worth approximately $38,000. Finally, Allianz Asset Management GmbH increased its position in shares of KeyCorp by 10.6% during the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after acquiring an additional 20,384 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.