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

KeyCorp (NYSE:KEY) – Equities researchers at Zacks Research lowered their Q4 2024 earnings per share (EPS) estimates for KeyCorp in a research report issued on Thursday, November 7th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $0.31 for the quarter, down from their prior forecast of $0.33. The consensus estimate for KeyCorp’s current full-year earnings is $1.08 per share. Zacks Research also issued estimates for KeyCorp’s Q1 2025 earnings at $0.33 EPS, Q1 2026 earnings at $0.39 EPS and FY2026 earnings at $1.78 EPS.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%.

Other research analysts have also issued reports about the stock. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.79.

KeyCorp Trading Up 1.5 %

Shares of KEY stock opened at $19.25 on Monday. The firm has a market cap of $19.08 billion, a P/E ratio of 1,940.00, a PEG ratio of 1.05 and a beta of 1.24. KeyCorp has a 1-year low of $10.73 and a 1-year high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day simple moving average is $16.96 and its 200-day simple moving average is $15.66.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,011 shares of company stock valued at $610,425. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently added to or reduced their stakes in KEY. Assenagon Asset Management S.A. lifted its stake in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after buying an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC lifted its stake in 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 valued at $94,459,000 after buying an additional 3,517,755 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in KeyCorp by 108.3% in the third 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock valued at $78,066,000 after buying an additional 2,900,971 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in KeyCorp by 279.6% in the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock valued at $63,452,000 after buying an additional 2,790,192 shares during the last quarter. 79.69% of the stock is currently owned by 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.