KeyCorp has recently seen significant developments including the closing of a deal with Scotiabank, supporting KEY's Net Interest Income expansion in 2025. The bank underperformed compared to competitors on certain days but also saw heavy trading of its Call Options highlighting investor interest. The appointment of a JP Morgan veteran as head of Key Family Wealth brings in fresh leadership. KeyCorp also secure a $2.0B investment from Scotiabank, acquiring a 14.9% stake in a major banking deal. While Truist Securities starts its coverage at Hold, KeyCorp’s CEO will receive a $7.5M bonus after the Scotiabank deal. Despite speculation of underperformance, analysts continue to forecast positive growth for KeyCorp with Barclays issuing a positive projection. On the financial front, KeyCorp's Q3 earnings and revenues beat estimates. Additionally, regulatory approval has been received for the landmark Scotiabank strategic investment deal. However, the bank plans to cut its Prime Lending Rate to 7.50%, indicating a significant shift in its interest rate policy. Looking ahead, the firm is expected to incur a $700M loss in Q3 due to balance sheet repositioning.
Keycorp KEY News Analytics from Tue, 04 Jun 2024 07:00:00 GMT to Wed, 08 Jan 2025 22:17:00 GMT -
Rating 7
- Innovation -2
- Information 8
- Rumor -8
