15th annual report suggests AI and macro-economic optimism as drivers of growth in 2025SAN FRANCISCO and MENLO PARK, Calif., Oct. 23, 2024 /PRNewswire/ -- KeyBanc Capital Markets (KBCM), the corporate and investment banking unit of KeyCorp (NYSE:KEY), in partnership with Sapphire Ventures, a global software venture capital firm backing companies of consequence, released results from its 15th annual Private SaaS Company Survey, the benchmarking report by which the SaaS industry measures financial and operati ...

KeyCorp (NYSE: KEY ) reported worse than expected third fiscal quarter earnings last week that were chiefly related to losses sustained from security sales. The regional bank saw a 7% quarter-over-quarter increase in net interest income, however, and had lower provision expenses, indicating Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it ...

Core Viewpoint - KeyCorp reported adjusted earnings of 30 cents per share for Q3 2024, exceeding the Zacks Consensus Estimate of 27 cents, reflecting a 3.4% increase year-over-year despite challenges in credit quality and net interest margin [1][2]. Financial Performance - Total quarterly revenues reached $695 million, with adjusted total revenues rising 3% year-over-year to $1.61 billion, surpassing the Zacks Consensus Estimate of $1.59 billion [3]. - Net interest income (NII) increased by 4.4% to $964 million, while the net interest margin (NIM) improved by 16 basis points to 2.17% [3]. - Non-interest income was negative $269 million, but adjusted non-interest income grew approximately 1% to $649 million, driven by higher trust and investment services income [4]. Loan and Deposit Trends - Average total deposits were $147.8 billion, up 2.5% from the previous quarter, attributed to growth in consumer and commercial deposits [5]. - Average total loans decreased by 2.5% sequentially to $106.2 billion due to planned balance sheet optimization efforts [5]. Credit Quality - Net loan charge-offs increased by 34 basis points year-over-year to 0.58%, with non-performing assets rising to 0.70%, up 29 basis points [6]. - The provision for credit losses was $95 million, reflecting a 17.3% increase due to changes in economic outlook and credit portfolio migration [6]. Capital Ratios - KeyCorp's tangible common equity to tangible assets ratio improved to 6.2% as of September 30, 2024, up from 4.4% a year earlier [7]. - The Tier 1 risk-based capital ratio rose to 12.6%, and the Common Equity Tier 1 ratio increased to 10.8% [7]. Strategic Developments - Scotiabank announced a $2.8 billion investment in KeyCorp, acquiring nearly 163 million shares, which is expected to enhance KeyCorp's capital ratios and tangible book value per share [8]. Market Outlook - The company anticipates that decent loan balances, balance sheet repositioning, strategic buyouts, and higher interest rates will support revenues in the near term, although rising funding costs and weakening asset quality remain concerns [9].

KeyCorp (KEY) reported $1.6 billion in revenue for the quarter ended September 2024, representing a yearover-year increase of 2.8%. EPS of $0.30 for the same period compares to $0.29 a year ago. The reported revenue represents a surprise of +1.01% over the Zacks Consensus Estimate of $1.59 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +11.11%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

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. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this company would post earnings of $0.24 per share when it actually produced earnings of $0.25, delivering a surprise of 4.17%. Over the last four quarters, the company has surpa ...

KeyCorp KEY will release earnings results for its third quarter before the opening bell on Thursday, Oct. 17. Analysts expect the Cleveland, Ohio-based company to report quarterly earnings at 15 cents per share, down from 29 cents per share in the year-ago period. KeyCorp projects to report revenue of $1.27 billion for the recent quarter, compared to $1.56 billion a year earlier, according to data from Benzinga Pro. On Monday, Baird analyst David George downgraded KeyCorp from Outperform to Neutral and lowe ...

KeyCorp (KEY) is scheduled to announce third-quarter 2024 results on Oct. 17, before the opening bell. During the quarter, lending activities witnessed modest improvement. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Per the Federal Reserve's latest data, the demand for commercial and industrial loans (accounting for roughly 50% of KeyCorp's average loan balances) improved during the third quarter. On the other hand, demand for consumer loans (constituting roughly 31% of average ...

Wall Street analysts expect KeyCorp (KEY) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year decline of 6.9%. Revenues are expected to be $1.59 billion, up 1.7% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings announc ...

Despite Warren Buffett's move to sell Bank of America, these are three attractive bank stocks to look at in October. Warren Buffett's move to sell shares of Bank of America that Berkshire Hathaway owns has cast a cloud over the banking sector.The trending view is that, if Buffett is selling bank stocks, maybe there is a good reason. While Buffett's investing views are followed by many, you shouldn't just follow what an investor does in his (or her) own best interests. If you do your own homework on stocks i ...

Balance sheet repositioning, minority equity stake, decent loan demand and lower rates are expected to support KeyCorp (KEY) . Meanwhile, elevated expenses and weak asset quality are major near-term concerns. Minority Equity Stake, Balance Sheet Repositioning to Aid KEY On Aug. 12, KeyCorp announced a minority equity investment of $2.8 billion (in aggregate) by Canada's The Bank of Nova Scotia (BNS) (also known as Scotiabank) in two tranches at a fixed price of $17.17 per share. The first phase was complete ...