Bank of America Comments on KeyCorp

Bank of America has published a research report on KeyCorp KEY maintaining their current evaluation. In the report, Bank of America wrote, "KEY reported EPS of $0.26, handily beating our $0.19 estimate. The lion's share of the beat came from a ($8mn) provision versus our +$40mn estimate and further expense reductions from its Keyvolution initiative, with operating expenses 5% lighter than forecast. Top-line trends modestly missed our estimate by 1%, as lending revenues fell 2% shy but fee income beat by 1%. We await until after KEY's 9am ET conference call to revisit our estimates." Bank of America rated KeyCorp at Neutral with a price target of $8.50. KeyCorp closed Monday at $7.73.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsBank of AmericaFinancialskeycorpRegional Banks
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!