KeyCorp (KEY) has attained several positive financial outcomes per the latest reports, such as surpassing the EPS estimates in Q2 2024, achieving slight earnings beat with a growth in deposits but tepid loan demand, while maintaining a stable dividend payout of $0.205. However, the bank hasn't managed to perform as a bargain in Q2 while displaying weak asset quality which has led to several asset managers decreasing their positions and selling shares. The emphasis is made on fee income, expected to aid KeyCorp's Q2 earnings but paired with a lower Net Interest Income. The growth potential of
KeyCorp is also being questioned and investors are advised to stay wary. The bank has undergone a workforce reduction in 2023, eliminating more than a thousand positions, but currently claims to be playing 'offense', hiring in key areas post-2023 reduction. The stock has seen decent returns of 55% over the past year, but its net income has varied from $30 million in Q4 2023 to $237 million in Q2 2024. Despite the challenges,
KeyCorp is recognised amongst the top companies for diversity.
Keycorp KEY News Analytics from Mon, 11 Dec 2023 08:00:00 GMT to Sun, 28 Jul 2024 13:07:33 GMT -
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