KeyCorp's (KEY) Restructuring Initiatives Aid Amid High Costs [Yahoo! Finance]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: Yahoo! Finance
balances and higher rates, while funding costs weigh on it to some extent. Elevated expenses and weakening asset quality remain concerns. KEY's impressive loan growth has contributed to top-line expansion over the past several years. Though tax-equivalent (TE) revenues dipped in 2023 and in the first quarter of 2024, the metric experienced a compound annual growth rate (CAGR) of 0.3% over the last six years ended 2023. Loans and deposits witnessed a CAGR of 4.3% and 6.8% over the four-year period ended 2023, respectively. While loans declined, deposits witnessed year-over-year growth in the first quarter of 2024. Decent loan demand, alongside the company's initiatives to boost fee income, is likely to bolster top-line growth. While we project total revenues (TE) to experience a slight dip in 2024, the metric is expected to recover in 2025 and 2026, with growth of 10.3% and 5.7%, respectively. The Federal Reserve is likely to keep interest rates high in the near term. Amid the hi
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KEY
News
- KeyCorp (NYSE: KEY) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.00 to $17.50. They now have a "neutral" rating on the stock.MarketBeat
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KEY
Earnings
- 4/18/24 - Miss
KEY
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- KEY's page on the SEC website