Analyst Consensus ?
ConsensusBuy50 ratings
Bullish3162.0%
Neutral1734.0%
Bearish24.0%
KeyCorp · KEY · FY2025 Q1 · Calendar Q2 2025
KeyCorp Maintains Outlook as Lending and Fees Stay Resilient
The supplied analysis supports a cautiously constructive view of KeyCorp's operating trajectory: lending and fee momentum, capital flexibility, and disciplined investment underpin management's unchanged outlook. The case remains dependent on commercial loan demand, credit quality, and the macro environment.
Reported Before market openNYSEFinancial Services
$21.52B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $0.33
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.76B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.4%
Event window
SPY move
+0.1%
Same window
Abnormal move
+1.3%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
+16.5%
Up to 20 sessions
KEYSPY benchmark
Ask FN2 about KEY FY2025 Q1
Transcript, numbers and history already loaded
What drove KEY's +1.4% move after FY2025 Q1 earnings?What changed in KEY's guidance and outlook in FY2025 Q1?Give me the bull and bear case for KEY after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current-quarter analysis emphasized continued C&I loan growth, resilient fee businesses, strong capital, and planned capital returns, while retaining the prior outlook. Compared with the prior quarter, macro and tariff exposure and recession-reserve adequacy remained central investor concerns.
Guidance delta
Maintained; management kept its 2025 outlook unchanged.
Key takeaways
- Management highlighted revenue growth, C&I loan expansion, and strength in commercial mortgage servicing and investment banking fees.
- Capital and liquidity were described as supportive of balance-sheet flexibility.
- The outlook remained unchanged despite macro, tariff, and credit-quality uncertainty.
- The transcript analysis supports a resilient operating picture, but does not establish a reported-versus-consensus earnings surprise.
Management priorities
- Expand C&I and other commercial lending selectively.
- Continue technology and talent investment, including modernization efforts.
- Execute the planned share repurchase and evaluate niche acquisitions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$19.94Previous close
$15Low
$21.52Average
$28High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 16, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Oct 5, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 2, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 1, 2026 |
| Truist Securities | Hold | Hold | Maintain | Sep 23, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Sep 15, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 22, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jul 22, 2026 |
| DA Davidson | Buy | Buy | Maintain | Jul 22, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 22, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 6, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 29, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jun 23, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 17, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Jan 5, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jul 24, 2025 |
| B of A Securities | Buy | Buy | Maintain | Jun 16, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 26, 2024 |
| Wedbush | Neutral | Neutral | Maintain | Sep 24, 2024 |
| Jefferies | Buy | Buy | Maintain | Aug 19, 2024 |
| Argus Research | Buy | Buy | Maintain | Apr 19, 2024 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Oct 4, 2023 |
| Odeon Capital | Buy | Hold | Upgrade | May 22, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 12, 2022 |
| Credit Suisse | Outperform | Neutral | Upgrade | Feb 8, 2022 |
| Nomura | Neutral | Neutral | Maintain | Apr 7, 2020 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 24, 2019 |
| Sandler O'Neill | Buy | Hold | Upgrade | Jan 11, 2019 |
| Standpoint Research | Buy | Hold | Upgrade | Oct 12, 2018 |
| Mizuho | Overweight | Overweight | Maintain | Jul 24, 2018 |
| Susquehanna | Positive | Neutral | Upgrade | Apr 24, 2018 |
| Bernstein | Outperform | Market Perform | Upgrade | Sep 14, 2017 |
| Keefe Bruyette & Woods | Outperform | Market Perform | Upgrade | Jul 11, 2017 |
| PiperJaffray | Overweight | Neutral | Upgrade | Apr 24, 2017 |
| Rafferty Capital | Buy | Hold | Upgrade | Oct 25, 2016 |
| Rafferty | Buy | Hold | Upgrade | Oct 25, 2016 |
| FBR Capital | Outperform | Market Perform | Upgrade | Jul 11, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Nov 2, 2015 |
| Wunderlich Securities | Buy | Buy | Maintain | Jul 17, 2015 |
| Wunderlich | Buy | Buy | Maintain | Jul 17, 2015 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Jun 29, 2015 |
| Bank of America | Neutral | Buy | Downgrade | Feb 5, 2015 |
| iBERIA Capital Partners | Sector Perform | Outperform | Downgrade | Jul 18, 2014 |
| Compass Point | Buy | Buy | Maintain | Apr 21, 2014 |
| BTIG Research | Neutral | Buy | Downgrade | May 15, 2013 |
| BTIG | Neutral | Buy | Downgrade | May 15, 2013 |
| Stifel Nicolaus | Sell | Hold | Downgrade | Feb 11, 2013 |
| Stifel | Sell | Hold | Downgrade | Feb 11, 2013 |
| Sterne Agee | Neutral | Neutral | Maintain | Jan 28, 2013 |
| CLSA | Outperform | Sell | Upgrade | Jan 23, 2013 |
| Oppenheimer | Outperform | Perform | Upgrade | Jan 9, 2013 |
Named analyst price targets
Upside is calculated against the persisted previous close $19.94. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $25 | $20.08 | +25.4% | Oct 5, 2026 |
| Evercore ISI | John Pancari | $24 | $20.07 | +20.4% | Oct 1, 2026 |
| D.A. Davidson | Peter Winter | $28 | $22.8 | +40.4% | Jul 22, 2026 |
| RBC Capital | Analyst unavailable | $25 | $22.95 | +25.4% | Jul 22, 2026 |
| Robert W. Baird | Analyst unavailable | $23 | $22.95 | +15.3% | Jul 22, 2026 |
| UBS | Analyst unavailable | $27 | $23.42 | +35.4% | Jul 7, 2026 |
| Wells Fargo | Analyst unavailable | $27 | $23.02 | +35.4% | Jul 6, 2026 |
| Morgan Stanley | Analyst unavailable | $25 | $23.21 | +25.4% | Jun 29, 2026 |
| Truist Financial | Analyst unavailable | $24 | $23.02 | +20.4% | Jun 24, 2026 |
| D.A. Davidson | Peter Winter | $27 | $21.66 | +35.4% | May 4, 2026 |
| RBC Capital | Analyst unavailable | $24 | $21.94 | +20.4% | Apr 17, 2026 |
| Piper Sandler | Analyst unavailable | $24 | $21.67 | +20.4% | Apr 17, 2026 |
| Robert W. Baird | David George | $19 | $21.01 | -4.7% | Feb 24, 2026 |
| Evercore ISI | John Pancari | $26 | $22.51 | +30.4% | Feb 5, 2026 |
| Truist Financial | Brian Foran | $23 | $21.14 | +15.3% | Jan 26, 2026 |
| D.A. Davidson | Peter Winter | $25 | $21.64 | +25.4% | Jan 21, 2026 |
| Evercore ISI | Analyst unavailable | $25 | $21.4 | +25.4% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $25 | $21.39 | +25.4% | Jan 6, 2026 |
| Wells Fargo | Analyst unavailable | $18 | $21.37 | -9.7% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $24 | $20.98 | +20.4% | Jan 5, 2026 |
| Truist Financial | Brian Foran | $22 | $21.04 | +10.3% | Dec 22, 2025 |
| D.A. Davidson | Peter Winter | $23 | $20.06 | +15.3% | Dec 10, 2025 |
| D.A. Davidson | Peter Winter | $21 | $16.92 | +5.3% | Oct 17, 2025 |
| Truist Financial | Analyst unavailable | $19 | $16.84 | -4.7% | Oct 17, 2025 |
| UBS | Analyst unavailable | $23 | $18.45 | +15.3% | Oct 7, 2025 |
| Wells Fargo | Analyst unavailable | $22 | $18.45 | +10.3% | Oct 3, 2025 |
| Evercore ISI | Analyst unavailable | $22 | $18.88 | +10.3% | Sep 30, 2025 |
| Morgan Stanley | Analyst unavailable | $24 | $18.89 | +20.4% | Sep 29, 2025 |
| Evercore ISI | Analyst unavailable | $17 | $14.87 | -14.7% | Apr 28, 2025 |
| Robert W. Baird | David George | $18 | $14.12 | -9.7% | Apr 7, 2025 |
| D.A. Davidson | Peter Winter | $20 | $17.35 | +0.3% | Oct 21, 2024 |
| RBC Capital | Gerard Cassidy | $18 | $17.25 | -9.7% | Oct 18, 2024 |
| Barclays | Jason Goldberg | $16 | $17.4 | -19.8% | Oct 17, 2024 |
| Citigroup | Keith Horowitz | $19 | $17.4 | -4.7% | Oct 17, 2024 |
| Goldman Sachs | Ryan Nash | $19 | $17.38 | -4.7% | Oct 17, 2024 |
| Robert W. Baird | David George | $17 | $17.22 | -14.7% | Oct 14, 2024 |
| Evercore ISI | John Pancari | $20 | $16.24 | +0.3% | Oct 2, 2024 |
| Piper Sandler | Scott Siefers | $18 | $16.7 | -9.7% | Sep 3, 2024 |
| Scotiabank | Keith Horowitz | $19 | $15.94 | -4.7% | Aug 13, 2024 |
| Wells Fargo | Mike Mayo | $20 | $15.94 | +0.3% | Aug 12, 2024 |
| Stephens | Terry McEvoy | $18 | $15.77 | -9.7% | Jul 22, 2024 |
| Argus Research | Stephen Biggar | $17 | $15.46 | -14.7% | Jul 19, 2024 |
| UBS | Erika Najarian | $15 | $13.95 | -24.8% | Jul 8, 2024 |
| Piper Sandler | Scott Siefers | $17 | $14.39 | -14.7% | May 24, 2024 |
| Argus Research | Stephen Biggar | $16 | $14.38 | -19.8% | Apr 19, 2024 |
| RBC Capital | Gerard Cassidy | $16 | $14.38 | -19.8% | Apr 19, 2024 |
| Jefferies | Ken Usdin | $17 | $14.59 | -14.7% | Jan 9, 2024 |
| Citigroup | Keith Horowitz | $20 | $12.23 | +0.3% | Apr 11, 2023 |
| Robert W. Baird | David George | $20 | $11.19 | +0.3% | Mar 24, 2023 |
| Deutsche Bank | Matt O'Connor | $23 | $18.66 | +15.3% | Sep 12, 2022 |
| Goldman Sachs | Analyst unavailable | $23 | $19.62 | +15.3% | May 31, 2022 |
| Piper Sandler | Analyst unavailable | $20.5 | $19.31 | +2.8% | May 2, 2022 |
| Odeon Capital Group LLC | Richard Bove | $21.5 | $20.5 | +7.8% | Apr 26, 2022 |
| Goldman Sachs | Analyst unavailable | $27 | $20.82 | +35.4% | Apr 22, 2022 |
| Deutsche Bank | Matt O'Connor | $26.5 | $25.44 | +32.9% | Feb 18, 2022 |
| UBS | Erika Najarian | $32 | $26.2 | +60.5% | Jan 12, 2022 |
| Barclays | Jason Goldberg | $26 | $23.4 | +30.4% | Jan 3, 2022 |
| Wells Fargo | Mike Mayo | $29 | $23.14 | +45.4% | Dec 16, 2021 |
| Stephens | Terry McEvoy | $26 | $23.65 | +30.4% | Oct 22, 2021 |
| KBW | David Konrad | $21 | $19.56 | +5.3% | Jul 6, 2021 |
Track every rating change on KEY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKeyCorp functions as the parent entity for KeyBank National Association, delivering a wide array of banking services to retail and business clients across the United States. Its operations are distinctly segmented into a Consumer Bank and a Commercial Bank. Targeting both individual consumers and small to medium-sized businesses, the corporation extends a comprehensive suite of services. These offerings include various deposit accounts, investment solutions, personal financial planning and wellness programs, student loan refinancing, mortgage and home equity products, general lending, credit card services, treasury management, business advisory, wealth and asset management, and trust-related services. Moreover, the company furnishes middle-market clients with a robust selection of sophisticated banking and capital market products.…
Historical context
All KEY earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| USB-PR U.S. Bancorp | FY2026 Q3 · Calendar Q4 2026 | +1.5% | — | U.S. Bancorp lifts guidance as fee growth and BTIG support Q3 |
| USB-PS U.S. Bancorp Depositary Shares, | FY2026 Q3 · Calendar Q4 2026 | +1.5% | — | U.S. Bancorp Q3: Record Revenue, Higher Full-Year Guidance |
| FHN First Horizon Corporation | FY2026 Q3 · Calendar Q4 2026 | +1.1% | +0.8% | First Horizon: Mortgage sale reshapes margin and capital outlook |
| USB-PQ U.S. Bancorp | FY2026 Q3 · Calendar Q4 2026 | +1.5% | — | U.S. Bancorp Q3: Fee growth and raised guidance lead the story |
| PNC The PNC Financial Services Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.7% | -0.4% | PNC raises full-year outlook as growth offsets margin pressure |
| USB-PA U.S. Bancorp PERP PFD SER A | FY2026 Q3 · Calendar Q4 2026 | +1.5% | — | U.S. Bancorp Q3: Fee Growth and BTIG Lift Guidance |
Latest beats and misses
Who reports nextBeat on EPS
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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 · 2025-04-03T00:02:43.581688+00:00
- Polygon adjusted daily market bars · 2026-10-16T07:50:41.165393+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T07:50:41.162689+00:00
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.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
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 2026-10-16. For educational purposes only; not investment advice.