JHVEPhotoShares of KeyCorp (NYSE:KEY) have been a strong performer over the past year, rising nearly 58%, as the bank has recovered solidly from the regional banking crisis. On Thursday morning, Key reported a solid set of Q2 earnings, causing shares to pull back modestly from a 52-week-high. I last covered KEY in March, rating shares a “buy” given balance sheet optimization efforts, and since that recommendation, Key is up 10% vs the market’s 9% gain. Given its large run, I understand the impulse to ta ...

财务数据和关键指标变化 - 第二季度公司报告收益2.37亿美元,每股0.25美元,较上年同期下降0.02美元,但较上一季度上升0.05美元 [6] - 收入基本持平,通过投行业务收入下降的影响得到抵消 [6] - 费用保持良好控制,信贷成本稳定 [6] - 公司继续推进提升盈利能力的既定路径 [6] 各条业务线数据和关键指标变化 - 净利息收入从第一季度的低点开始增长,有信心实现全年和第四季度的承诺 [7] - 存款价值创造持续是一个积极的故事,存款同比增长5%,非计息存款占比20% [7] - 财富管理业务表现强劲,新增3.1万户和29亿美元资产 [8] - 商业支付业务存款同比增长9%,现金管理费用增长约10% [9] - 投行业务第二季度收入低于第一季度,但管理层对业务前景保持乐观,管线处于高位 [10] - 第三方商业贷款服务业务表现良好,是一个逆周期业务 [10] 各个市场数据和关键指标变化 - 贷款需求疲软,定价环境竞争激烈,但管线正在建立,中型企业和机构业务管线均有所增长 [11] 公司战略和发展方向及行业竞争 - 公司继续保持谨慎的贷款定价策略,存款累计利率上涨53% [7][18] - 公司在财富管理、商业支付、投行等重点战略领域保持良好发展势头 [8][9][10] - 公司在一些垂直行业如医疗、房地产、科技等有独特优势,嵌入式银行战略也很及时 [9] 管理层对经营环境和未来前景的评论 - 管理层对公司未来前景感到兴奋,净息差下降的阶段已经过去,未来将成为净息差的推动力 [13] - 管理层对公司各业务线的发展势头感到鼓舞,存款增长、投行和贷款管线的改善都令人鼓舞 [13] 其他重要信息 - 公司资本充足率进一步提升,CET1达到10.5%,远高于监管要求 [12][25] - 公司对监管机构的压力测试结果持有不同看法,认为对商业房地产和抵押贷款组合的预测过于悲观 [12] - 公司全年业绩指引保持不变,但调低了贷款增长预期,存款增长预期有所上调 [27] 问答环节重要的提问和回答 问题1 **Ebrahim Poonawala 提问** 询问了净息差的下行风险,如果贷款增长疲软会有什么影响 [33][34][35][36][37][38][39] **Clark H. I. Khayat 回答** 详细解释了净息差改善的各个驱动因素,并表示即使贷款增长略有不及预期,公司也有信心实现全年和第四季度的净息差目标 [34][35][36][37][38][39] 问题2 **Robert Siefers 提问** 询问了存款增长对净息差的影响 [46][47][48][49][50] **Clark H. I. Khayat 回答** 解释了公司在商业存款、非计息存款、定期存款等方面的策略,以及如何通过存款结构优化来支持净息差改善 [47][48][49][50] 问题3 **Kenneth Usdin 提问** 询问了贷款增长情况,以及公司的贷款策略 [53][54][55][56][57] **Christopher M. Gorman 回答** 分析了当前贷款需求疲软的原因,并表示公司在一些垂直行业如可再生能源、医疗等仍有较强的贷款管线 [54][55][56][57]

KeyCorp’s (KEY) second-quarter 2024 adjusted earnings from continuing operations of 25 cents per share beat the Zacks Consensus Estimate by a penny. The bottom line, however, compared unfavorably with 27 cents earned in the prior-year quarter. The reported quarter included the FDIC special assessment charge of $5 million, but its impact on earnings was negligible.The stock lost 2% in pre-market trading on deteriorating credit quality and spread income weakness concerns.Results benefited from a rise in non-i ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.17%. A quarter ago, it was expected that this company would post earnings of $0.23 per share when it actually produced earnings of $0.22, delivering a surprise of -4.35%.Over the last four quarters, the company has surpas ...

KeyCorp Second Quarter 2024 Earnings Review July 18, 2024 Chris Gorman Chairman and Chief Executive Officer Clark Khayat Chief Financial Officer 2Q24 Results Driving New Relationships Focused on Primacy +3.3% Net New Relationship Household Growth(1) +3% YoY Increase in noninterest income ✓Enhanced underwrite-todistribute platform through partnership with +5% Blackstone YoY Client Deposit Growth Momentum across Wealth Management, Payments, and Commercial Mortgage Servicing IB pipelines continue to build Diff ...

KEYCORP REPORTS SECOND QUARTER 2024 NET INCOME OF $237 MILLION, OR $.25 PER DILUTED COMMON SHARE Average deposits up $1.3 billion compared to the prior quarter and the second quarter of 2023, with client deposits up 5% year-over-year Disciplined expense management: expenses declined approximately 6% from the prior quarter and were stable versus the year-ago period Common Equity Tier 1 ratio rose 20 basis points to 10.5% (a) Credit quality remains solid: net charge-offs to average loans of 34 basis points CL ...

Average deposits up $1.3 billion compared to the prior quarter and the second quarter of 2023, with client deposits up 5% year-over-year Disciplined expense management: expenses declined approximately 6% from the prior quarter and were stable versus the year-ago period Common Equity Tier 1 ratio rose 20 basis points to 10.5%(a) Credit quality remains solid: net charge-offs to average loans of 34 basis points CLEVELAND, July 18, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced net income from continu ...

KeyCorp (KEY) is scheduled to announce second-quarter 2024 results on Jul 18, before the opening bell. During the quarter, lending activities witnessed modest improvement.Per the Federal Reserve’s latest data, the demand for commercial and industrial loans (accounting for almost 50% of KeyCorp’s average loan balances) improved in the second quarter. On the other hand, demand for consumer loans (constituting roughly 30% of average loan balances) was weak.For the to-be-reported quarter, we expect KeyCorp’s av ...

KeyCorp (KEY) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 18. On the oth ...

CLEVELAND, July 10, 2024 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the third quarter of 2024: A cash dividend of $0.205 per share on the corporation's outstanding common shares (NYSE: KEY). The dividend is payable on September 13, 2024, to holders of record of such Common Shares as of the close of business on August 27, 2024; A dividend of $312.50 per share (equivalent to $12.50 per depositary share (CUSIP #493267AK4)) on the corpora ...