KeyCorp (NYSE:KEY) Price Target Raised to $26.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised KeyCorp’s price target from $25 to $26 and kept an outperform rating, implying about 13.8% upside from the prior close.
• Other analysts also turned more positive on KEY, including RBC, DA Davidson, Wells Fargo, and Piper Sandler, with the stock maintaining a Moderate Buy consensus from Wall Street.
• KeyCorp’s recent results were solid: it reported Q2 EPS of $0.44, above estimates, and revenue rose 6.7% year over year, while the company also authorized a $3 billion share buyback.

KeyCorp (NYSE:KEY - Get Free Report) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 13.76% from the company's previous close.

Several other brokerages have also recently weighed in on KEY. Royal Bank Of Canada upped their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday. DA Davidson reaffirmed a "buy" rating and set a $28.00 target price on shares of KeyCorp in a research report on Wednesday. TD Cowen reiterated a "buy" rating and issued a $68.00 price target on shares of KeyCorp in a report on Tuesday, June 23rd. Wells Fargo & Company boosted their price target on KeyCorp from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Finally, Piper Sandler upped their price objective on KeyCorp from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.61.

KeyCorp Stock Down 0.4%

Shares of KEY traded down $0.10 during midday trading on Wednesday, reaching $22.86. 5,256,783 shares of the stock were exchanged, compared to its average volume of 14,044,537. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company's 50 day moving average is $22.36 and its two-hundred day moving average is $21.56. The company has a market capitalization of $24.67 billion, a P/E ratio of 14.00, a PEG ratio of 0.73 and a beta of 1.02.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The firm's quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that KeyCorp will post 1.82 earnings per share for the current year.

KeyCorp declared that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 13% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the sale, the insider owned 281,564 shares of the company's stock, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company's stock.

Institutional Trading of KeyCorp

Institutional investors have recently bought and sold shares of the stock. MCF Advisors LLC raised its stake in KeyCorp by 31.6% during the fourth quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider's stock worth $39,000 after purchasing an additional 456 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider's stock valued at $588,000 after buying an additional 486 shares during the period. Harbour Investments Inc. increased its holdings in shares of KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider's stock worth $66,000 after buying an additional 508 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of KeyCorp by 5.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider's stock worth $206,000 after buying an additional 522 shares during the last quarter. Finally, Centennial Wealth Advisory LLC raised its position in shares of KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider's stock valued at $929,000 after buying an additional 524 shares during the period. 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: KeyCorp reported Q2 EPS of $0.44, topping estimates, while net income rose 26% year over year to $472 million and revenue increased about 7% from a year ago. Article Title
• Positive Sentiment: Management highlighted improving fundamentals, including 9% growth in net interest income, a slightly higher net interest margin, and sequential loan growth, which supports the bank’s earnings outlook. Article Title
• Positive Sentiment: Analyst sentiment remained constructive, with Bank of America reiterating a Buy rating and Morgan Stanley noting loan growth can offset margin pressure. Robert W. Baird also raised its price target to $23.00. Article Title
• Neutral Sentiment: KeyCorp also raised 2026 guidance, but revenue guidance of $8.0 billion to $8.1 billion was roughly in line with expectations, limiting the near-term upside reaction. Article Title
• Negative Sentiment: Some reports flagged weaker-than-expected noninterest income and margin pressure, which may be tempering enthusiasm despite the earnings beat. Article Title

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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