KeyCorp.'s stock jumps 4.6% as Bank of Nova Scotia to invest $2.8 billion in regional lender
KeyCorp.'s stock KEY, +0.48% jumped 4.6% early Monday, after the regional bank said it has reached an agreement with Canadian lender The Bank of Nova Scotia BNS, +0.94% BNS, +0.87% under which the latter will invest about $2.8 billion, equal to a 14.9% stake, for $17.17 a share. The stock closed Friday at $14.61.
KeyCorp Q2: Solid Earnings, But Not A Bargain
KeyCorp reported second-quarter results beating EPS expectations, although NII dropped almost 9% Y/Y. KeyCorp's deposits are growing and credit provisions dropped year over year. The Fed's approaching pivot point may continue to pressure KeyCorp's net interest income in the future.
KeyCorp: Q2 Points To Ongoing Net Interest Income Gains
KeyCorp shares have risen nearly 58% over the past year, with solid Q2 earnings causing a modest pullback from a 52-week-high. KeyCorp's net interest income is up sequentially, with solid deposit growth and fixed maturities positioning it for further growth. KeyCorp's credit quality remains solid; it has a strong liquidity position and a clear runway to earnings growth, making shares an attractive buy with a 15+% total return opportunity.
KeyCorp (KEY) Q2 2024 Earnings Call Transcript
KeyCorp (NYSE:KEY ) Q2 2024 Earnings Conference Call July 18, 2024 9:00 AM ET Company Participants Brian Mauney – Director, IR Christopher M. Gorman – Chairman and CEO Clark H.
KeyCorp (KEY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Although the revenue and EPS for KeyCorp (KEY) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
KeyCorp (KEY) Q2 Earnings Top, Stock Dips on Weak Asset Quality
Higher fee income, a fall in provisions and a higher loan balance aid KeyCorp's (KEY) Q2 earnings, while deteriorating asset quality and a decline in NII act as major spoilsports.
KeyCorp (KEY) Q2 Earnings Surpass Estimates
KeyCorp (KEY) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.27 per share a year ago.
KeyCorp forecasts bigger drop in annual average loans on tepid demand
KeyCorp forecast a bigger drop in average loans in 2024 than previously anticipated on Thursday, and posted a 5% fall in second-quarter profit as costlier deposits eroded the regional lender's interest income, sending its shares down 2% in premarket trading.
Fee Income to Aid KeyCorp (KEY) Q2 Earnings, Lower NII to Hurt
Improvement in fee income and lower provisions likely to have supported KeyCorp's (KEY) Q2 earnings amid weak NII performance and higher expenses.
Analysts Estimate KeyCorp (KEY) to Report a Decline in Earnings: What to Look Out for
KeyCorp (KEY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Bank Stock Brushes Off UBS Bear Note
KeyCorp (NYSE:KEY) stock has reversed its premarket losses, up 0.6% at $14.03 at last glance and brushing off a bear note from UBS.
KeyCorp: Several High Yield Options, I'm Avoiding All Of Them
KeyCorp has seen increases in asset and borrowing yields due to rising interest rates, but net interest income remains low. The bank has experienced declines in loans and deposits, with a significant portion of CRE loans classified as criticized. KeyCorp's preferred shares are overpriced and subject to interest rate risks, making them unattractive investment options.
