Goldman Sachs Reiterates Buy Rating on KeyCorp (KEY)

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Go back to Goldman Sachs Reiterates Buy Rating on KeyCorp (KEY)

KEYCORP REPORTS THIRD QUARTER 2024 NET LOSS OF $(447) MILLION, OR $(.47) PER DILUTED COMMON SHARE, AND ADJUSTED NET INCOME OF $290 MILLION, OR $.30 PER DILUTED COMMON SHARE(a)

October 17, 2024 6:30 AM EDT

Received initial $821 million tranche of strategic minority investment from Scotiabank; Common Equity Tier 1 ratio of 10.8% and Tangible Common Equity ratio of 6.2%(b)

Net interest income up 7% quarter-over-quarter, with average deposits up 2.5%; Client deposits were up 4% year-over-year

Continued strong fee momentum across investment banking, commercial mortgage servicing, commercial payments, and wealth management

Nonperforming assets and provision for credit losses were stable to improved... More