CLEVELAND, Aug. 30, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced that The Bank of Nova Scotia ("Scotiabank") has completed the initial purchase of KeyCorp's common stock with an investment of approximately $0.8 billion as expected. With this investment, Scotiabank now owns approximately 4.9% of KeyCorp's common stock. This initial purchase is part of the agreement announced on August 12, 2024, under which Scotiabank (TSX: BNS) (NYSE: BNS) will make a strategic minority investment in KeyCorp of a ...

KeyCorp (KEY) remains well-positioned for top-line growth on the back of strategic acquisitions, restructuring initiatives, solid loans and deposit balances as well as higher rates, while funding costs weigh on it to some extent. Elevated expenses and weakening asset quality remain concerns. KEY's Growth Catalysts KEY's solid loan growth has contributed to top-line expansion in the past several years. Though tax-equivalent revenues dipped in 2023 and in the first half of 2024, the metric reflected a compoun ...

CLEVELAND, Aug. 22, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that Clark Khayat, Chief Financial Officer, will present at The Barclays Global Financial Services Conference on Monday, September 9, 2024, at 2:45 p.m. ET in New York City. KeyCorp plans to review its performance, strategy, and outlook. The live audio webcast of the conference call will be available at www.key.com/ir. If you are unable to join the live conference call, or wish to hear a rebroadcast, access www.key.com/ir and selec ...

ab 13 August 2024 Global Research and Evidence Lab KeyCorp BNS stake supports KEY shares, but greater visibility needed to determine upside Capital injection solves for near term capital, earnings headwinds KEY shares handily outperformed today (+9.1% vs. -0.5% for the BKX) after announcing a $2.8bn strategic investment in the bank by Scotiabank (14.9% pro forma ownership) at a premium to recent its valuation, though retreated from early trading levels that neared the $17.17 price implied by the deal. We th ...

Shares of KeyCorp (KEY) touched a 52-week high of $17.09 yesterday before closing the session at $15.94 (marking a jump of 9.1%). The surge was driven by the news of an investment of $2.8 billion by The Bank of Nova Scotia (BNS) in KeyCorp. Canada's BNS will acquire approximately a 14.9% stake in KeyCorp for a fixed price of $17.17 per share, representing a premium of 7.7% at the previous day's closing price. For BNS, the step marks a massive advancement as it tries to expand operations in North America. De ...

Key Takeaways The S&P 500 was flat on Monday, Aug. 12, 2024, ahead of key data points this week that could offer insight into the uncertain economic environment. KeyCorp shares took off after the regional bank announced a $2.8 billion investment from Bank of Nova Scotia. Shares of Albemarle tumbled amid an ongoing slump in lithium prices. Major U.S. equities indexes were little changed on Monday. Fresh off a week of volatile trading driven by economic concerns, key data on inflation, retail sales, and the h ...

KeyBank (NYSE:KEY) is among today's biggest movers, with KEY stock surging by as much as 14% this morning. This is in response to news that Canadian lender Bank of Nova Scotia (NYSE:BNS), also known as Scotiabank, has acquired 14.9% of the regional U.S. lender for $2.8 billion. At this valuation, Scotiabank has paid a premium for KEY stock, pricing the company at a valuation of around $18.8 billion. Accordingly, the market has been quick to reprice shares of KEY stock, with the stock still reflecting a disc ...

文章核心观点 - KeyCorp公司宣布获得加拿大银行斯科舍银行(Scotiabank)约28亿美元的投资,斯科舍银行将在2025年第一季度前收购KeyCorp约1.63亿股股票[1][2][3] - KeyCorp称这是一个"独特的机会,以有吸引力的条件筹集资本"[4] - 斯科舍银行以每股17.17美元的固定价格购买股票,较上周五收盘价14.61美元有17.5%的溢价[5] 根据相关目录分别进行总结 交易细节 - 斯科舍银行将分两次投资,首次在本月底投资8亿美元,之后在获得监管机构和美联储批准后(预计在2025年第一季度前)再投资20亿美元[3] - 这笔投资将使斯科舍银行持有KeyCorp约14.9%的股份[2] 交易背景 - KeyCorp表示,虽然目前资本状况良好,但这笔投资可以加快其资本和收益改善,并增强其战略地位[4] - KeyCorp股价在公布消息后大涨约13%,达到2023年初以来的最高水平,而斯科舍银行股价下跌约4%[6]

Canadian bank Scotiabank plans to acquire a 14.9% stake in Cleveland-based KeyCorp, which operates about 1,000 KeyBank branches in 15 U.S. states and provides corporate and investment banking products. Pending regulatory approval, Scotiabank expects to close the initial investment of 4.9% in the fourth quarter of fiscal 2024 and an additional investment of 10% in fiscal 2025, the bank said in a Monday (Aug. 12) press release. The total cash consideration amounts to $2.8 billion. "We believe that this transa ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...