- KeyCorp’s total deposits for the fourth quarter were $145.08 billion, meeting estimates.
- The total loans for the same period were slightly less than estimated, at $113.95 billion compared to the estimated $114.56 billion.
- Net interest income for the fourth quarter was $928 million, surpassing the estimated $918 million.
- The net interest margin on a taxable-equivalent basis was 2.07%, slightly below the estimated 2.09%.
- Earnings per share (EPS) were 3.0 cents, both overall and from continuing operations, falling short of the estimated 22 cents.
- Revenue for the period was $1.54 billion, slightly above the estimated $1.53 billion.
- Cash and due from banks was significantly less than estimated, at $941 million compared to the estimated $2.05 billion.
- Non-interest income was slightly above estimates, at $610 million compared to the estimated $609.6 million.
- The provision for credit losses was $102 million, slightly more than the estimated $100.9 million.
- Non-interest expenses were higher than estimated, at $1.37 billion compared to the estimated $1.16 billion.
- Net charge-offs were less than estimated, at $76 million compared to the estimated $85.2 million.
- Return on average tangible common equity was 1.46%, significantly lower than the estimated 10.3%.
- The efficiency ratio was higher than estimated, at 88.6% compared to the estimated 78.3%.
- The common equity Tier 1 ratio was slightly higher than estimated, at 10% compared to the estimated 9.88%.
- There were 16 buys, 8 holds, and 1 sell of KeyCorp stock during this period.
A look at Keycorp Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
The long-term outlook for KeyCorp appears to be positive, based on the Smartkarma Smart Scores. These scores, which range from 1 to 5, indicate the overall outlook for the company in various categories. KeyCorp received a score of 4 in both Value and Dividend, indicating that the company is performing well in terms of its financial value and dividend payouts. Additionally, the company received a score of 3 in Growth, suggesting that it has potential for future growth. However, KeyCorp received a lower score of 2 in Resilience, which may indicate some potential risks or challenges for the company. Nevertheless, the company received a high score of 5 in Momentum, indicating strong performance in the recent past. Overall, these scores suggest a positive long-term outlook for KeyCorp as a financial services holding company.
Based on the description of the company, KeyCorp provides a wide range of financial services to individual, corporate, and institutional clients. This diverse portfolio of products and services may contribute to the company’s high scores in Value and Dividend, as well as its potential for growth. However, the lower score in Resilience may be something for investors to keep an eye on. The high score in Momentum also suggests that KeyCorp has been performing well in the recent past, which may bode well for its future success. Overall, KeyCorp’s strong performance in multiple categories, as indicated by the Smartkarma Smart Scores, suggests a positive long-term outlook for the company as a whole.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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