KeyCorp's Provisions Expenses Likely To Remain Heightened [Seeking Alpha]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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US:NYSE Investor Relations:
investor.key.com
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Source: Seeking Alpha
SummaryProvisions expenses will likely remain high in the remainder of the year due to the economic outlook and exposure to high-impact industries.Net interest margin will likely decline even further due to a full-quarter impact of interest rates cut in the second quarter. Moreover, the payroll protection program will reduce margin.Earnings are likely to plunge this year due to increase in provisions expenses, dip in margin, and reduction in non-interest expenses.The December 2020 target price suggests a high upside from the current market price. However, risks to the earnings and valuation persist.After plunging in the first quarter, earnings of KeyCorp (KEYProvisions Expenses Likely to Remain Elevated Due to Exposure to High-Impact IndustriesKEY’s earnings plunged in the first quarter due to a surge in provisions expenses to 35bps of gross loans. Provisions expenses will likely remain elevated in the coming quarters because the economic outlook has considerably worsened since the en
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News
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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