Fed clears KeyCorp's $2 billion cash infusion from Scotiabank earlier than expected and its stock is up
Analyst hails Fed's quicker-than-expected OK of the investment in KeyCorp from Bank of Nova Scotia as a good sign for more deal-making
Fed approves Scotiabank bid to acquire voting shares in KeyCorp
The U.S. Federal Reserve said on Thursday it had approved an application by Scotiabank to buy up to 14.99% of the voting shares in U.S. regional lender KeyCorp , as the Canadian bank looks to boost its exposure to developed markets.
KeyCorp: Well Capitalized And Positioned For Growth In 2025
KeyCorp shares have surged 55% in the past year, driven by solid underwriting, an equity investment, and hopes for easier regulations. The Scotiabank equity stake deal allows KeyCorp to reposition its securities portfolio, boosting net interest income and EPS despite a 5% share dilution. KeyCorp's deposits are up 4% year-over-year, improving liquidity and reducing reliance on wholesale funding, with a strong loan-to-deposit ratio of 71%.
KeyCorp: Likely Limited Upside
KeyCorp reported a Q3'24 loss of $0.47 per share, mainly due to securities sales. The bank saw a 2.5% Q/Q average deposit growth and a 7% increase in net interest income, indicating healthy performance in core operations. KeyCorp's valuation now reflects a 20% premium to book value, suggesting limited upside potential with shares likely fully valued.
KeyCorp CEO on earnings: Tailwinds are just getting started and banks have a lot of momentum
Chris Gorman, KeyCorp CEO, joins 'Money Movers' to discuss the company's quarterly earnings results, provisions for credit losses, and much more.
KeyCorp's Q3 Earnings Beat, Stock Dips on Weak Asset Quality
KEY's third-quarter 2024 results rise on the back of higher revenues and a decline in expenses. However, a rise in provisions turns out to be a spoilsport.
KeyCorp (KEY) Q3 2024 Earnings Call Transcript
KeyCorp (NYSE:KEY ) Q3 2024 Earnings Conference Call October 17, 2024 9:00 AM ET Company Participants Brian Mauney - Director, IR Christopher Gorman - Chairman and CEO Clark H. I. Khayat - CFO Conference Call Participants Scott Siefers - Piper Sandler Mike Mayo - Wells Fargo Gerard Cassidy - RBC John Pancari - Evercore Nathan Stein - Deutsche Bank Zach Westerlind - UBS Manan Gosalia - Morgan Stanley Peter Winter - D.A.
Compared to Estimates, KeyCorp (KEY) Q3 Earnings: A Look at Key Metrics
Although the revenue and EPS for KeyCorp (KEY) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
KeyCorp (KEY) Q3 Earnings and Revenues Beat Estimates
KeyCorp (KEY) came out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.29 per share a year ago.
How To Earn $500 A Month From KeyCorp Stock Ahead Of Q3 Earnings
KeyCorp KEY will release earnings results for its third quarter before the opening bell on Thursday, Oct. 17.
Fee Income to Aid KeyCorp's Q3 Earnings, Higher Provisions to Hurt
Fee income and modest NII growth are likely to have aided KEY's third-quarter 2024 earnings, while a rise in provisions and high costs are likely to have hurt.
Curious about KeyCorp (KEY) Q3 Performance? Explore Wall Street Estimates for Key Metrics
Evaluate the expected performance of KeyCorp (KEY) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
