KeyCorp (KEY) recently outperformed the stock market and saw an increase in holdings by Amalgamated Bank and Merit Financial Group LLC. However, Retirement Systems of Alabama reduced their shares. Despite overall market gains, KeyCorp stock underperformed and its price target was decreased by 16.06%. Nevertheless, the company declared a quarterly dividend of $0.205. Meanwhile, Goldman Sachs maintained their buy recommendation. On another note, KeyCorp is grappling with rising expenses and loan concentration. Q2 Non-Interest Income (NII) guidance disappointed which led to a 4.3% slip in shares. On the brighter side, the company benefits from restructuring and higher rates, though costs remain a concern. Their Q4 earnings and revenue fell short of estimates. Furthermore, a SWOT Insight suggests potential strategic avenues for the firm. KeyCorp also announced a partnership with Blackstone Credit & Insurance for forward flow origination. Yet, its Q1 earnings missed estimates due to a lower NII, causing the stock to slide. Even so, the company's commercial real estate exposure seems limited, as clarified by CEO Chris Gorman. The Q1 2024 net income came in at $183 million, sparking interest among investors.
Keycorp KEY News Analytics from Sun, 24 Sep 2023 07:00:00 GMT to Fri, 10 May 2024 11:53:41 GMT -
Rating -1
- Innovation 2
- Information 5
- Rumor -6
