Citi's Positive Outlook on KeyCorp Stock for 2025 Earnings
Citi's Optimistic View on KeyCorp's Future Earnings
Recently, Citi has demonstrated a continued confidence in KeyCorp (NYSE: KEY) stock by maintaining a Buy rating, alongside a price target set at $19.00. This endorsement comes as Citi enhances its financial projections ahead of KeyCorp's upcoming third-quarter earnings announcement.
Revised Earnings Projections for KeyCorp
Citi has made noteworthy revisions to its Net Interest Income (NII) forecasts for KeyCorp for the years 2025 and 2026. These updates are founded on refreshed assumptions regarding the company’s strategies on securities repositioning, as well as ambitions surrounding swap expectations. Citi anticipates a notable year-over-year increase in NII, projecting a growth of 20% in 2025 compared to previous years.
Impact of FHLB Advances and Deposit Betas
Despite this optimistic outlook, Citi's figures are slightly lower than consensus estimates, attributed to expected maturities of Federal Home Loan Bank (FHLB) advances. The bank is also taking a cautious stance regarding deposit betas, anticipating a decline as the economic landscape evolves.
Earnings Per Share Estimates
Citi maintains its earnings per share (EPS) estimate for KeyCorp in 2024 at $0.35. This is notably lower than the FactSet consensus estimate, which stands at $1.09. Looking towards 2025, Citi has made a modest increase to its EPS forecast, raising it by $0.05 to $1.55, keeping it closely aligned with the consensus of $1.57. Furthermore, the projections for 2026 have also seen an uplift, with the EPS forecast increased to $1.85, slightly surpassing the FactSet estimate of $1.82.
Confidence Reflected in Price Target
Citi's steadfast price target of $19.00 serves as a reflection of their confidence in KeyCorp's stock value. As the financial institution gears up for the forthcoming earnings report, investors are keenly awaiting insights that could shape future analyses and investor sentiment.
Conclusion
Citi's continued positive outlook on KeyCorp and its well-calibrated forecasts underscore the firm's confidence in the company's financial trajectory. As the financial landscape continues to shift, the upcoming earnings report will provide critical information that could affect investor perspectives and market performance.
Frequently Asked Questions
What is the current price target set by Citi for KeyCorp stock?
Citi has set a price target of $19.00 for KeyCorp stock.
What are Citi's EPS estimates for KeyCorp in 2025?
Citi has increased its EPS forecast for 2025 to $1.55.
How does Citi's EPS estimate for 2024 compare to the consensus?
Citi's EPS estimate for 2024 is $0.35, significantly lower than the FactSet consensus of $1.09.
What factors did Citi consider for its revised NII projections?
Citi's revisions are based on new assumptions about securities repositioning and expectations for swaps.
Why are Citi's figures slightly below consensus?
The figures are slightly below consensus due to expected maturities of FHLB advances and a conservative view on deposit betas.
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