KeyCorp (NYSE:KEY) Given New $23.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies raised its price target on KeyCorp to $23.00 (from $21.00) and kept a "hold" rating, implying about a 5.3% upside from the current share price.
• KeyCorp beat Q1 estimates with $0.44 EPS vs. $0.41 and $1.95B revenue (+10% YoY); management repurchased $389M in the quarter and signaled at least $1.3B of 2026 buybacks, supported by ~11.4% CET1 capital and low credit losses.
• The street consensus is a Moderate Buy with an average price target of $23.13, institutional investors hold roughly 79.7% of shares, while insiders have been net sellers (0.56% insider ownership; ~$3.6M sold last quarter).

KeyCorp (NYSE:KEY - Get Free Report) had its price target increased by equities research analysts at Jefferies Financial Group from $21.00 to $23.00 in a report released on Friday,MarketScreener reports. The firm currently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price objective points to a potential upside of 5.33% from the company's current price.

KEY has been the topic of a number of other research reports. Morgan Stanley lowered their price target on KeyCorp from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 31st. Stephens raised their target price on KeyCorp from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, December 18th. Evercore reduced their price objective on shares of KeyCorp from $26.00 to $24.00 and set an "outperform" rating on the stock in a research report on Monday, April 6th. Piper Sandler restated an "overweight" rating and set a $24.00 price target on shares of KeyCorp in a research report on Friday. Finally, Robert W. Baird set a $19.00 target price on KeyCorp and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $23.13.

KeyCorp Price Performance

Shares of KEY opened at $21.84 on Friday. The stock has a market cap of $23.42 billion, a PE ratio of 14.52, a PEG ratio of 0.70 and a beta of 1.07. KeyCorp has a 12-month low of $13.68 and a 12-month high of $23.34. The business has a 50-day simple moving average of $20.75 and a two-hundred day simple moving average of $19.88. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm's revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. Analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director owned 58,719 shares in the company, valued at $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, the insider directly owned 261,415 shares of the company's stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,506 shares of company stock valued at $3,597,481 in the last quarter. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On KeyCorp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider's stock worth $679,768,000 after purchasing an additional 17,245,128 shares during the last quarter. Capital World Investors lifted its position in shares of KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider's stock valued at $388,546,000 after buying an additional 13,067,326 shares in the last quarter. Norges Bank purchased a new stake in KeyCorp in the 4th quarter worth $262,688,000. Eurizon Capital SGR S.p.A. acquired a new position in KeyCorp during the fourth quarter worth $150,843,000. Finally, AQR Capital Management LLC lifted its holdings in KeyCorp by 416.3% during the fourth quarter. AQR Capital Management LLC now owns 7,163,851 shares of the financial services provider's stock valued at $147,862,000 after purchasing an additional 5,776,417 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Q1 beat and core operating strength — Key reported $0.44 EPS vs. $0.41 expected, revenue $1.95B (+10% YoY), net interest income +11% YoY and quarter-end loans up $2.6B; management repurchased $389M in the quarter. KEYCORP REPORTS FIRST QUARTER 2026 NET INCOME
• Positive Sentiment: Aggressive buyback signal — management signaled at least $1.3B of 2026 share repurchases and emphasized capital returns as a priority, supporting EPS leverage and shareholder returns. KeyCorp signals at least $1.3B of 2026 buybacks
• Positive Sentiment: Credit quality remains solid — nonperforming assets and net charge-offs stayed low and CET1 capital (~11.4%) provides headroom for buybacks and lending growth. KeyCorp Q1 results and metrics
• Neutral Sentiment: Management tone mixed — earnings call conveyed cautious optimism: solid execution but awareness of market risk and a plan to manage margin and capital; analysts are watching guidance and margin targets. KeyCorp Earnings Call Highlights
• Negative Sentiment: Net interest margin disappointed some investors — NIM of ~2.87% was viewed as short of some expectations and is a key driver for future earnings sensitivity. Net interest margin falls short
• Negative Sentiment: Fee income outlook and M&A pressures — management warned market disruptions could dampen investment banking and M&A fees, which could reduce noninterest income if deal activity stalls. Uncertainty expected to hit M&A fees
• Negative Sentiment: Near-term share reaction mixed — despite the quarter beat, some reports note shares dipped on guidance/margin concerns as investors weighed near-term headwinds vs. buybacks. Shares dip on guidance concerns

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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