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KEY

KeyCorp

$20.30

0.24 (1.20%)

07:14
07/19/18
07/19
07:14
07/19/18
07:14

KeyCorp sees FY18 net interest income $3.95B-$4.05B, one rate increase

For loans, the company sees average balances in the range of $88.5B-$89.5B. For deposits, sees average balances in the range of $104.5B-$105.5B. Sees FY18 net interest income in the range of $3.95B - $4.05B, outlook includes one rate increase in November. Sees noninterest income $2.5B-$2.6B, noninterest expense $3.85B-$3.95B. Sees net charge-offs to average loans below targeted range of 40 - 60 bps, provision expected to slightly exceed net charge-offs to provide for loan growth. Sees GAAP tax rate in the 17%-18% range. Long-term targets include: Positive operating leverage, cash efficiency ratio 54%-56%, moderate risk profile and ROTCE 15%-18%. Comments from slides that will be presented on the Q2 earnings conference call.

  • 19

    Jul

  • 30

    Oct

KEY KeyCorp
$20.30

0.24 (1.20%)

06/29/18
DBAB
06/29/18
NO CHANGE
DBAB
Deutsche declares Wells Fargo, SunTrust, Huntington the CCAR winners
Deutsche Bank analyst Matt O'Connor views Wells Fargo (WFC), SunTrust (STI) and Huntington Bancshares (HBAN) as the winners of the Federal Reserve's Comprehensive Capital Analysis and Review. The banks separately disclosed planned dividend increases and buybacks for the next four quarters, O'Connor tells investors in a research note. He points out that while JPMorgan (JPM), KeyCorp (KEY) and M&T Bank (MTB) "all used the mulligan," he does not view this as negative.
06/29/18
WEDB
06/29/18
NO CHANGE
WEDB
Outperform
CCAR results 'very positive' for regional banks, says Wedbush
Wedbush analyst Peter Winter says the results of the CCAR for 2018 were "very positive" for the regional banks, as the average total capital return increased from 88% in the 2017 CCAR to 119%, above his forecast of 103%. In a research note to investors, Winter says the "winners" relative to his forecast were Regions Financial (RF), Huntington Bancshares (HBAN), Fifth Third (FITB), SunTrust (STI) and KeyCorp (KEY).
06/26/18
ARGS
06/26/18
INITIATION
Target $24
ARGS
Buy
KeyCorp initiated with a Buy at Argus
Argus analyst Stephen Biggar initiated KeyCorp with a Buy rating and a price target of $24, saying the company's earnings trend should outpace that of its peers thanks to its positive loan growth, net interest margin expansion, and strong credit quality. The analyst is also positive on the impact of the regulatory rollback to Dodd-Frank Act toward the regional banking sector. Biggar states that his target on KeyCorp implies a 14-times PE valuation multiple and represents a "modest premium" to the 13-times average for its regional bank peers, which is justifiable by its growth profile as well as its better return on equity and efficiency ratio metrics.
06/26/18
ARGS
06/26/18
INITIATION
Target $24
ARGS
Buy
KeyCorp initiated with a Buy at Argus

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SPDR Barclays High Yield Bond

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DIOD

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HYG

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SLV

iShares Silver Trust

$14.17

0.075 (0.53%)

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CSOD

Cornerstone OnDemand

$52.59

0.48 (0.92%)

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USLV

VelocityShares 3x Long Silver ETN

$7.31

0.12 (1.67%)

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CCMP

Cabot Microelectronics

$121.32

0.1 (0.08%)

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IYR

DJ US Real Estate Index Fund

$81.16

0.44 (0.55%)

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BLDR

Builders FirstSource

$16.86

0.85 (5.31%)

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Bemis

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$49.51

0.12 (0.24%)

BERY

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$45.77

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GPK

Graphic Packaging

$14.30

0.19 (1.35%)

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IBB

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UPS

UPS

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LABD

Daily S&P Biotech Bear 3x Shares

$25.69

-0.41 (-1.57%)

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EWH

MSCI Hong Kong Index

$24.20

0.07 (0.29%)

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EWG

iShares MSCI Germany

$29.59

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EEM

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EWW

iShares MSCI Mexico

$50.67

1.11 (2.24%)

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