KeyCorp Posts $744M in Q3 Noninterest Income as Fee Revenue Holds Up
KEY sits 20% above its 52-week low of $16.79.
Summary
KeyCorp reported $744 million of third-quarter noninterest income, the fee-based line that has become a bigger part of the story as net interest margin plateaus. The figure lands alongside Q3 EPS of $0.51, up 24% year over year, on record revenue of $2.04 billion and a 2.95% net interest margin, with taxable-equivalent net interest income of $1.31 billion and net income of $579 million. The quarter included a $61 million provision for credit losses, and the CET1 capital ratio stood at 11.1%. Profit and revenue rose on higher investment banking fees, and revenue guidance was raised to the upper end of the range. Fee revenue at this level supports the raised full-year noninterest income guidance management issued in September and helps fund the buyback program. Watch the earnings call for the split between capital markets, trust and investment fees, and mortgage, since those drive whether the fee run-rate holds into 2027.
At the time of this announcement, KEY was trading at $20.10 on NYSE in the Finance sector, with a market capitalization of approximately $21.3B. The 52-week trading range was $16.79 to $24.07. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.