TD Cowen Rates KeyCorp (KEY) buy, $68 Price Target

TD Cowen reiterated its buy rating for KeyCorp with a target price of $68, a 190.47% upside from the current price.

By TradeTexts Research Desk · Published Jun 23, 2026, 1:02 PM EDT · Updated Jun 26, 2026, 10:02 AM EDT

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TD Cowen rated KeyCorp ($KEY) "buy" with a $68 price target on June 23, 2026.

Since the rating, $KEY is up 0.1% after 1 week, down 1.3% after 1 month and down 12.3% to date (from the $22.80 close on Jun 23, 2026).

KEY KeyCorp

$19.99 -1.91% year to date

Daily close · Oct 16, 2026

Key Points

TD Cowen reiterated its buy rating on KeyCorp (NYSE: KEY) with a $68 price target on June 23, 2026.
TD Cowen's $68 price target implies 190.47% upside from KeyCorp's ($KEY) current $23.41 share price.
KeyCorp shares traded near $22.83 on Tuesday, with a market cap of about $24.64 billion and a P/E ratio of 14.0.
Vanguard Capital Management LLC opened a new position in KeyCorp, holding 65.88 million shares worth $1.32 billion.

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TD Cowen reiterated its buy rating for KeyCorp (NYSE: KEY) on June 23, 2026, setting a target price of $68. Analyst Aaron Macneil maintained this optimistic outlook as shares of KeyCorp traded near $22.83 on Tuesday.

Analyst rating track record

TD Cowen vs. the S&P 500

YTD return -36.16% hypothetical

All-time return +1.85% S&P 500 +41.73%

vs. S&P 500 -39.88% behind the index

Hypothetical returns from TD Cowen's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in KeyCorp

Several institutional investors have been adjusting their positions in KeyCorp. Vanguard Capital Management LLC opened a new position, acquiring 65.88 million shares valued at approximately $1.32 billion. Similarly, Vanguard Portfolio Management LLC also initiated a stake with 51.49 million shares worth about $1.03 billion. Meanwhile, BlackRock, Inc. reduced its holdings by 5.37 million shares, now holding 88.72 million shares valued at roughly $1.78 billion. State Street Corp increased its position by 998,231 shares, bringing its total to 47.13 million shares valued at $944.97 million.

KeyCorp Stock Up 12.5%

On Tuesday, shares of KeyCorp (NYSE: KEY) traded near $22.83. The company, with a market cap of approximately $24.64 billion, has a P/E ratio of 14.0 and a forward P/E of 10.6. KeyCorp's stock has a 52-week low of $16.01 and a high of $23.35. Its 50-day moving average is $21.71, while the 200-day moving average stands at $20.19. The company exhibits a beta of 1.041, indicating moderate volatility compared to the market.

12-month forecast

$KEY price target

KeyCorp daily closes and this analyst's $68 target. Not advice.

Recent Earnings

KeyCorp reported revenue of about $7.20 billion, with a revenue growth rate of 11.8%. The company achieved a net margin of 27.0% and a return on equity of 9.98%. Earnings per share stood at $1.63. The next earnings report is expected on July 21, 2026.

Dividend

KeyCorp pays an annual dividend rate of $0.82, yielding 3.63%. The dividend payout ratio is approximately 50.3%, reflecting the portion of earnings distributed as dividends.

Insider Buying and Selling at KeyCorp

Recent insider activity at KeyCorp includes several transactions by Bank of Nova Scotia, which sold shares on multiple occasions in May and June 2026. On June 16, they sold 277,182 shares at an average price of $22.13. Additionally, Elizabeth Gile sold 23,946 shares on June 3 at an average price of $20.88. Robin Hayes made a purchase, buying 7,352 shares on May 14.

Analysts Set New Price Targets

TD Cowen reiterated its buy rating for KeyCorp with a $68 price target on June 23, 2026. On June 15, Stephens & Co. reinstated its buy rating with a target of $26. DA Davidson maintained its buy rating on May 4, setting a target price of $27. The consensus among analysts is a buy recommendation, with a mean target price of $25.06 based on 19 opinions.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association, providing a range of retail and commercial banking products and services in the United States. Headquartered in Cleveland, Ohio, and led by CEO Christopher Marrott Gorman, the company serves both consumer and commercial clients through its Consumer Bank and Commercial Bank segments. KeyCorp offers products such as deposits, loans, and investment management, along with services like wealth management, equipment financing, and capital markets solutions. Founded in 1849, KeyCorp employs over 17,000 people.

Bottom Line

KeyCorp's recent analyst rating by TD Cowen underscores a continued positive outlook for the bank. Investors keep a close eye on such ratings as they reflect expert assessments of a company's potential. It's important to remember that these ratings and 13F filings are backward-looking and may not represent current positions or forecasts.