Wedbush Comments on KeyCorp’s Q4 Earnings (NYSE:KEY)

KeyCorp (NYSE:KEY) – Equities researchers at Wedbush reduced their Q4 2024 earnings estimates for KeyCorp in a research report issued on Friday, October 18th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.31 for the quarter, down from their prior estimate of $0.33. Wedbush currently has a “Neutral” rating and a $18.00 price objective on the stock. The consensus estimate for KeyCorp’s current full-year earnings is $1.08 per share. Wedbush also issued estimates for KeyCorp’s Q2 2025 earnings at $0.35 EPS.

Other equities analysts also recently issued research reports about the stock. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a report on Thursday, June 27th. DA Davidson lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $17.62.

KeyCorp Price Performance

Shares of NYSE KEY opened at $17.17 on Monday. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.94. The company has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $15.38. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 0.97 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.88.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of the business. Ontario Teachers Pension Plan Board lifted its position in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after purchasing an additional 1,748,633 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of KeyCorp by 12.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after acquiring an additional 2,213,872 shares in the last quarter. Earnest Partners LLC increased its stake in KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after purchasing an additional 2,339,454 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of KeyCorp by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after buying an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% in 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. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.