Fee Income to Aid KeyCorp (KEY) Q1 Earnings, Lower NII to Hurt [Yahoo! Finance]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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investor.key.com
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Source: Yahoo! Finance
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) was subdued in the first quarter. On the other hand, demand for consumer loans (constituting roughly 30% of average loan balances) was decent. In the to-be-reported quarter, we expect KeyCorp's average loan balance to be $110.8 billion, down 7.5% from the prior-year quarter. The Zacks Consensus Estimate for KEY's average earning assets is pegged at $169.9 billion, indicating a 2.7% decline from the prior-year quarter's reported number. Our estimate for the metric stands at $173.3 billion, suggesting an almost 1% fall. Further, the Federal Reserve kept the interest rates unchanged in the quarter at a 22-year high of 5.25-5.5%. This is likely to have aided KEY's net interest income (NII) and net interest margin. However, both the metrics are likely to have been neg
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KEY
News
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- Goodwill of the Olympics and Rainier Region Receives $300,000 Grant From KeyBank for Clean Energy Initiative [Yahoo! Finance]Yahoo! Finance
KEY
Earnings
- 4/18/24 - Miss
KEY
Sec Filings
- 4/18/24 - Form 8-K
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- KEY's page on the SEC website