News about KEY

KeyCorp reported third-quarter net income of $537 million, up 18.3% year over year, and diluted EPS of $0.51, up 24.4%. Total revenue hit a record $2.04 billion, up 8.4%, as net interest income rose 9.6% and noninterest income reached $744 million. Net interest margin (TE) widened 20 basis points to 2.95%, and return on average tangible common equity rose to 15.11% from 12.51%. Management narrowed its 2026 net interest income growth guidance to about 10% and lowered its net charge-off guidance to 37 to 39 basis points, while average loans grew 5.0% to $111.6 billion. Management cautioned that geopolitical and macro uncertainty remains and that some transactional real estate is being retraded due to the current cost of capital.

KeyCorp (KEY) reported third-quarter 2026 earnings from continuing operations of 51 cents per share, beating the Zacks Consensus Estimate of 46 cents and rising 24.4% from a year earlier. Total revenues (TE) rose 8.3% to a record $2.05 billion, driven by a 9.6% increase in net interest income (NII) to $1.31 billion and a 6% rise in non-interest income to $744 million; the net interest margin expanded 20 basis points to 2.95%. Non-interest expenses increased 5.8% to $1.25 billion, mainly due to higher personnel costs, while the provision for credit losses fell 43% to $61 million. Capital ratios declined year over year, with the CET1 ratio at 11.1% (from 11.8%) and the Tier 1 ratio at 12.3% (from 13.5%), and KEY repurchased $320 million of shares during the quarter. Among major banks, Bank of America's (BAC) adjusted third-quarter earnings of $1.08 per share and JPMorgan's (JPM) $5.75 per share both missed the Zacks Consensus Estimate.