KeyCorp Analysts Slash Their Forecasts After Q4 Results

KeyCorp KEY reported better-than-expected earnings for the fourth quarter on Tuesday.

The company posted quarterly earnings of 38 cents per share which beat the analyst consensus estimate of 33 cents per share. The company's quarterly sales came in at $865.00 million.

Chairman and CEO, Chris Gorman said, “Our strong financial results are a function of continued client momentum. Relationship households were up 3%, client deposits were up 4%, and AUM increased to a record level of $61 billion in 2024. We continued to drive significant progress in each of our strategic, fee-based businesses – wealth management, commercial payments, and investment banking.

I am very proud of all that our team accomplished in 2024. As we turn the page to 2025, we celebrate KeyBank’s 200th anniversary, a remarkable milestone that reflects the hard work of our teammates over the past two centuries, and their collective dedication to our clients. With strong performance momentum and a leading capital position, we are well positioned for sound, profitable growth in 2025 and beyond.”

KeyCorp shares fell 3.6% to close at $17.64 on Tuesday.

These analysts made changes to their price targets on KeyCorp following earnings announcement.

• Morgan Stanley analyst Manan Gosalia maintained KeyCorp with an Equal-Weight and lowered the price target from $23 to $22.
• Keefe, Bruyette & Woods analyst David Konrad maintained the stock with an Outperform and lowered the price target from $22 to $21.

Considering buying KEY stock? Here’s what analysts think:

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