Analyst Consensus ?
ConsensusBuy39 ratings
Bullish2256.4%
Neutral1641.0%
Bearish12.6%
KeyCorp · KEY-PL · FY2025 Q4 · Calendar Q1 2026
KeyCorp reports record revenue and outlines 2026 growth plan
The supplied analysis supports a constructive but conditional view: KeyCorp's earnings growth and resilient fee and lending demand could support its outlook if middle-market activity, deposit costs, and technology execution develop as management expects.
Reported Before market openNYSEFinancial Services
$27.35B market cap
75quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.43
Consensus $0.39
EPS surprise
+11.1%
Reported versus consensus
Reported revenue
$2.00B
Consensus $1.96B
Revenue surprise
+2.2%
Reported versus consensus
Market reaction
unavailable
Stock move
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Event window
SPY move
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Same window
Abnormal move
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Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about KEY-PL FY2025 Q4
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How did the market react to KEY-PL FY2025 Q4 earnings, and why?What changed in KEY-PL's guidance and outlook in FY2025 Q4?Give me the bull and bear case for KEY-PL after FY2025 Q4 earnings.
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Transcript intelligence
What changed
The analysis highlights $100 million of annual AI and technology investment alongside $100 million of identified annual cost savings, a $200 million Q4 share repurchase, and a plan for $1.2 billion of FY2026 buybacks. Management also described tighter underwriting and deliberately limited growth in specialty finance.
Guidance delta
Management's 2026 outlook calls for revenue growth of about 7%, NII growth of 8%-10%, and expense growth of 3%-4%, implying improved operating leverage.
Key takeaways
- Management reported record FY2025 revenue growth of 16%, supported by net interest income and fee growth.
- The stated 2026 plan emphasizes C&I lending, middle-market M&A, wealth management, and commercial payments.
- Capital return remains a priority, with $300 million of Q1 2026 buybacks and $1.2 billion planned for FY2026.
Management priorities
- Scale AI and technology initiatives in call centers, underwriting, and operations.
- Continue hiring bankers across wealth, commercial payments, middle market, and investment banking.
- Pursue fee-based acquisitions and boutique partnerships while remixing the loan portfolio toward higher-yield commercial assets.
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Oct 4, 2023 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Oct 3, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 26, 2023 |
| Piper Sandler | Overweight | Neutral | Upgrade | Sep 14, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 23, 2023 |
| Citigroup | Buy | Buy | Maintain | Jul 23, 2023 |
| Argus Research | Buy | Buy | Maintain | Jul 23, 2023 |
| Wedbush | Neutral | Neutral | Maintain | Jul 20, 2023 |
| Wells Fargo | Overweight | Overweight | Maintain | Jun 12, 2023 |
| RBC Capital | Outperform | Outperform | Maintain | Jun 12, 2023 |
| Odeon Capital | Buy | Hold | Upgrade | May 21, 2023 |
| DA Davidson | Buy | Buy | Maintain | Apr 20, 2023 |
| Baird | Outperform | Neutral | Upgrade | Mar 9, 2023 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Mar 7, 2023 |
| Barclays | Equal Weight | Underweight | Upgrade | Jan 2, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 11, 2022 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2022 |
| Credit Suisse | Outperform | Neutral | Upgrade | Feb 7, 2022 |
| B of A Securities | Buy | Underperform | Upgrade | Dec 14, 2021 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Oct 21, 2021 |
| UBS | Neutral | Buy | Downgrade | May 3, 2020 |
| Nomura | Neutral | Neutral | Maintain | Apr 6, 2020 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 23, 2019 |
| Standpoint Research | Buy | Hold | Upgrade | Oct 11, 2018 |
| Mizuho | Overweight | Overweight | Maintain | Jul 23, 2018 |
| Susquehanna | Positive | Neutral | Upgrade | Apr 23, 2018 |
| Bernstein | Outperform | Market Perform | Upgrade | Sep 13, 2017 |
| Rafferty Capital | Buy | Hold | Upgrade | Oct 24, 2016 |
| FBR Capital | Outperform | Market Perform | Upgrade | Jul 10, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Nov 1, 2015 |
| Wunderlich Securities | Buy | Buy | Maintain | Jul 16, 2015 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Jun 28, 2015 |
| IBERIA Capital Partners | Sector Perform | Outperform | Downgrade | Jul 17, 2014 |
| Compass Point | Buy | Buy | Maintain | Apr 20, 2014 |
| BTIG | Neutral | Buy | Downgrade | May 14, 2013 |
| Stifel | Sell | Hold | Downgrade | Feb 10, 2013 |
| Sterne Agee | Neutral | Neutral | Maintain | Jan 27, 2013 |
| CLSA | Outperform | Sell | Upgrade | Jan 22, 2013 |
| Oppenheimer | Outperform | Perform | Upgrade | Jan 8, 2013 |
Track every rating change on KEY-PL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKeyCorp, a financial holding company founded in 1849 and based in Cleveland, Ohio, primarily conducts its operations through its subsidiary, KeyBank National Association. This institution provides a comprehensive array of retail and commercial banking products and services throughout the United States, organized into two distinct segments: Consumer Bank and Commercial Bank. For individual customers and small to medium-sized businesses, KeyCorp offers a wide variety of financial solutions. These include deposit accounts, investment products, and personalized advice on financial wellness. They also facilitate student loan refinancing, provide mortgage and home equity options, issue credit cards, and extend various lending services. Additionally, the company delivers treasury services, business advisory, wealth and asset management, portfolio management, and trust services.…
Historical context
All KEY-PL earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| EWBC East West Bancorp, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1.5% | +2.2% | EWBC: Record Q3 Results, Higher NII Guidance |
| COF Capital One Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +21.6% | +0.9% | Capital One posts Q3 beat as synergies and credit trends strengthen |
| KEY-PK KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp posts strong Q3 as deposits and loan demand support growth |
| KEY-PJ KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp reports record revenue as deposits and commercial lending strengthen |
| KEY-PI KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp posts record Q3 as deposits and commercial lending accelerate |
| KEY KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | +4.5% | KeyCorp Q3 revenue tops $2 billion as deposits and utilization strengthen |
Latest beats and misses
Who reports nextBeat on EPS
- EWBCFY2026 Q3 · October 20, 2026+1.5% EPS+2.2% move
- COFFY2026 Q3 · October 20, 2026+21.6% EPS+0.9% move
- HALFY2026 Q3 · October 20, 2026+2.7% EPS+1.8% move
- RTXFY2026 Q3 · October 20, 2026+27.0% EPS+0.6% move
- MMMFY2026 Q3 · October 20, 2026+5.0% EPS+5.8% move
- GPCFY2026 Q3 · October 20, 2026+1.5% EPS-5.1% move
Missed on EPS
- PACFY2026 Q3 · October 20, 2026-2.2% EPS+7.1% move
- AGNCZFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCLFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
- AGNCOFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCPFY2026 Q3 · October 19, 2026-0.6% EPS0.0% move
- AGNCMFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
Get the KEY-PL recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-21. For educational purposes only; not investment advice.