财务数据和关键指标变化 - 第三季度每股收益为负$0.47,其中包括$0.77的证券组合重组影响。剔除重组影响,每股收益为$0.30 [3][4] - 公司在9月中旬出售了约$70亿的长期CMO和CMBS证券,平均收益率约2.3%,平均久期近6年。目前已全部将收益重新投资,主要投资于流动性更强、资本消耗更低的短期机构债券,预计将带来每季度$4000万的净利息收入增加 [4][5][6] - 报告收入同比下降55%,剔除证券重组影响,收入同比增长3%,包括净利息收入和费用收入的增长 [14] - 费用得到良好控制,同比下降1%,暗示了约400个基点的正经营杠杆 [14] - 信贷成本基本持平,包括$6000万的贷款损失准备释放 [15] - 普通股一级资本充足率提升至10.8%,有形净资产增长近16% [21] 各条业务线数据和关键指标变化 - 贷款平均余额下降2.5%至$1060亿,反映了客户需求疲软、利用率平稳以及公司有意控制低收益消费贷款的收缩 [15][16] - 公司为客户安排了$280亿的资本市场融资,投行费用同比增长20%,创历史第三季度最佳 [16][19] - 商业按揭服务业务创下季度记录,特殊服务贷款余额达$75亿 [20] - 财富管理资产规模创新高,达$610亿,同比增长16%,其中大众富裕客户资产增长强劲 [10] 各个市场数据和关键指标变化 - 存款平均余额增长2.5%至$1480亿,其中客户存款同比增长4% [17] - 计息存款成本上升11个基点,主要是由于偿还了$45亿的高成本FHLB融资 [17][18] - 公司采取了积极的存款定价措施,预计首次降息后的存款Beta在低到中30%区间,将有利于第四季度净利息收入 [18] 公司战略和发展方向及行业竞争 - 公司完成了首笔$8.21亿的斯科舍银行少数股权投资,并将其中$7亿用于重组证券组合,提高了收益率和流动性 [5][6] - 公司正在积极拓展投行、商业支付、财富管理等重点业务,这些业务在本季度表现强劲 [7-10] - 公司认为信贷质量已见顶,不良贷款和关注贷款将继续下降,资本充足率也将进一步提高 [11][21][22] - 公司预计未来将有更多银行并购活动,自身具备充足的资本实力参与其中 [98][99][100] 管理层对经营环境和未来前景的评论 - 管理层认为宏观环境保持良好,预计将实现软着陆,这有利于公司的投行业务和资本市场活动 [39][40][86] - 公司对存款定价和资产重定价的能力表示乐观,预计将在2025年实现2.8%-3%的净息差水平 [73][74] - 管理层对公司贷款增长前景持谨慎态度,认为需要观察客户的资本支出和存款利用率变化 [49][50][90] 其他重要信息 - 公司预计2024年净利息收入将下降2%-5%,但第四季度将同比增长10%以上 [23][26] - 公司预计2024年费用收入将增长6%,全年净充销率将在30-40个基点区间 [24] - 公司预计2025年净利息收入将同比增长20%左右,其中一半来自证券组合重组带来的收益 [32][33][34] 问答环节重要的提问和回答 问题1 **Scott Siefers 提问** 询问公司的利率敏感性以及对利率走势的预期 [28][29][30][31] **Clark H. I. Khayat 回答** 公司已采取措施提高利率敏感性,包括重组证券组合、优化存款定价等,对利率下行的影响有所缓解。公司认为温和的利率下行更有利于整体业务发展 [29][30][31] 问题2 **Mike Mayo 提问** 询问不良贷款增加的原因及其对未来的影响 [76][77][78] **Christopher Gorman 回答** 公司认为不良贷款已见顶,未来将保持相对稳定。这次增加主要是个别信贷事项,对整体不构成重大影响 [77][78] 问题3 **John Pancari 提问** 询问公司2025年资本市场业务的发展前景 [85][86] **Christopher Gorman 回答** 公司对2025年资本市场业务保持乐观,预计将延续强劲的增长势头,但具体数据将在年末时给出更详细的指引 [86]

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 ...

财务业绩 - 公司第三季度净亏损4.47亿美元，每股摊薄亏损0.47美元，调整后净收入2.9亿美元，每股摊薄收益0.30美元[1] - 第三季度总收入为6.95亿美元，同比下降55.6%[48] - 第三季度归属于KeyCorp的持续经营净亏损为4.11亿美元[48] - 第三季度每股收益为-0.47美元，同比下降262.1%[48] - 第三季度资产收益率为-0.87%，同比下降1.49个百分点[48] - 第三季度股东权益收益率为-13.41%，同比下降23.72个百分点[48] - 公司第三季度的调整后每股收益为0.30美元，较上季度的0.25美元有所提高[55] - 公司第三季度的现金效率比率为156.4%，较上季度的70.2%大幅上升[55] - 公司第三季度的有形普通股权益平均回报率为-16.98%，较上季度的10.39%大幅下降[54] 收入情况 - 净利息收入环比增长7%，平均存款增长2.5%，客户存款同比增长4%[1] - 投资银行、商业抵押贷款服务、商业支付和财富管理等领域的费用收入保持强劲势头[1] - 第三季度净利息收入为9.64亿美元，同比增长4.4%[48] - 第三季度非利息收入为-2.69亿美元，同比下降141.8%[48] - 第三季度净利息收入为9.52亿美元，较上季度的8.87亿美元有所增加[54] - 第三季度的非利息收入为-2.69亿美元，较上季度的6.27亿美元大幅下降[54] 成本费用 - 非利息支出同比下降1.4%，主要由于营销费用和FDIC特别评估费用下降[12,13,14] - 第三季度非利息支出为10.94亿美元，同比下降1.4%[48] - 第三季度非利息支出为10.94亿美元，较上季度的10.79亿美元有所增加[55] 资产质量 - 不良资产和信贷损失准备环比保持稳定或有所改善[1] - 第三季度信贷损失准备金为9500万美元，高于2023年第三季度的8100万美元和2024年第二季度的1亿美元[20] - 第三季度净贷款核销为1.54亿美元，占平均总贷款的0.58%，高于2023年第三季度的0.71亿美元(0.24%)和2024年第二季度的0.91亿美元(0.34%)[21] - 2024年9月30日,不良贷款占期末组合贷款的0.69%,高于2023年9月30日的0.39%和2024年6月30日的0.66%[21] - 第三季度拨备计提为1.53亿美元，较上一季度持平[59] - 第三季度贷款损失准备余额为14.94亿美元，占期末贷款的1.42%[67] - 第三季度贷款损失准备对不良贷款的覆盖率为205%[67] 业务板块表现 - 消费者银行业务第三季度收入同比增长5%,净收入同比增长32.3%[30] - 商业银行业务第三季度收入同比增长7.3%,净收入同比增长25%[28] - 消费者银行第三季度净收入为8600万美元，同比增长32.3%[32] - 商业银行第三季度净收入为3亿美元，同比增长25.0%[36] - 商业银行第三季度非利息收入同比增长12.4%，主要由于投资银行和债务配售费用以及商业抵押贷款服务费的增加[35] - 商业银行第三季度存款平均余额同比增长4.7%[34] - 商业银行第三季度贷款和租赁平均余额同比下降10.8%，主要由于商业和工业贷款的下降[36] - 商业银行第三季度信贷损失准备金同比下降39.7%，主要受益于资产负债表优化措施[36] 资本及流动性 - 从苏格兰银行获得初始8.21亿美元的战略少数股权投资，普通股权一级资本比率为10.8%，有形普通股权比率为6.2%[1] - 公司的有形普通股权益与有形资产比率为6.21%，较上季度的5.17%有所提高[54] - 公司第三季度的有形普通股权益平均值为104.70亿美元，较上季度的91.78亿美元有所增加[54] - 2024年9月30日,公司的估计Common Equity Tier 1和Tier 1风险资本比率分别为10.8%和12.6%,维持在较强水平[23] 贷款及存款 - 平均贷款同比下降9.7%，主要由于商业贷款和消费贷款的减少[15,16] - 第三季度平均存款总额为1,477.71亿美元，较上年同期增加29亿美元，反映了消费者和商业存款的增长[17] - 与2024年第二季度相比，平均存款增加36亿美元，主要由于消费者和商业存款余额的增加[18] - 第三季度贷款总额为1,053.46亿美元，较上一季度下降1.62%[57] - 第三季度存款总额为1,503.53亿美元，较上一季度增加3.18%[57] - 第三季度贷款收益率为5.73%，较上一季度上升0.07个百分点[59] - 第三季度存款平均收益率为2.96%，较上一季度上升0.11个百分点[59] - 第三季度净利息收益率为2.17%，较上一季度上升0.13个百分点[59] - 第三季度利差为1.43%，较上一季度上升0.15个百分点[59]

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 ...

Program has helped 200 clients across America achieve sustainable and affordable homeownership CLEVELAND, Sept. 30, 2024 /PRNewswire/ -- Today, KeyBank announced that it has funded more than $1 million in KeyBank Neighbors First Credits, helping 200 clients achieve their dream of homeownership in areas where the program is available. This milestone is the latest KeyBank has achieved since launching this program in July 2023. KeyBank Home LendingKeyBank Home Lending The KeyBank Neighbors First Crediti is a S ...