KeyCorp (KEY) is a bank holding company that offers various retail and commercial banking products and services in the U.S. through its principal subsidiary, KeyBank National Association. Founded in 1849, it is based in Cleveland, Ohio, and currently has a market cap of $14.03 billion.
KEY stock has significantly outperformed the broader market over the last year. KEY has gained 68.1% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 26.7%. However, in 2024, Keycorp gained only 4.9%, lagging SPX's 9.6% gains on a YTD basis.
Zooming in further, KEY has outperformed the S&P Regional Banking ETF SPDR (KRE), which lost 3.1% on a YTD basis.
KeyCorp's Q1 earnings missed Wall Street estimates and declined year over year. However, the stock has maintained an uptrend since then.
For the current fiscal year, ending in December 2024, analysts expect KEY’s EPS decline of 8.1% year over year to $1.14 on a diluted basis. The company's earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters while missing the forecast on two other occasions.
Among the 23 analysts covering KEY stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, two “Moderate Buys,” and eight “Holds.”
This configuration has been consistent over the past three months.
On May 7, Wells Fargo (WFC) analyst Mike Mayo maintained a “Buy” rating on KeyCorp with a price target of $18.00. However, Barclays analyst Jason Goldberg maintained a “Hold” rating on KeyCorp with a price target of $16.00.
The mean price target of $17.58 represents an 18.2% premium to KEY’s current price levels. The Street-high price target of $36 suggests an ambitious upside potential of 141.9%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
