Zacks Research Has Negative Estimate for KeyCorp Q4 Earnings

KeyCorp (NYSE:KEY) – Zacks Research reduced their Q4 2024 EPS estimates for KeyCorp in a note issued to investors on Thursday, November 7th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $0.31 per share for the quarter, down from their previous estimate 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.

Several other analysts also recently weighed in on KEY. The Goldman Sachs Group set a $19.00 target price on shares of KeyCorp in a research report on Thursday, October 17th. UBS Group raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.79.

KeyCorp Price Performance

Shares of KEY stock opened at $19.18 on Monday. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 1,908.00, a PEG ratio of 1.05 and a beta of 1.24. 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 stock’s 50-day simple moving average is $17.01 and its 200-day simple moving average is $15.69. KeyCorp has a fifty-two week low of $10.73 and a fifty-two week high of $20.00.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping 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 Trading of KeyCorp

A number of institutional investors have recently made changes to their positions in KEY. Charles Schwab Investment Management Inc. boosted its stake in KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after purchasing an additional 993,942 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in KeyCorp by 8.8% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after acquiring an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in 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 valued at $288,403,000 after acquiring an additional 2,213,872 shares in the last quarter. Earnest Partners LLC raised its holdings in KeyCorp by 23.2% in 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 acquiring an additional 2,339,454 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred 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 owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,011 shares of company stock valued at $610,425. Company insiders own 0.61% of the company’s stock.

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.