KeyBank is trading 4.17% up at $20.75 after reporting third-quarter results that beat profit expectations.
- On October 20, earnings were $0.51 per share versus the $0.46 analyst estimate, and revenue reached a record $2.04 billion.
- Net interest margin expanded to 2.95%, up 20 basis points year over year; management reported stronger fee income and improved credit metrics.
- Management expects continued sequential net interest income growth in Q4 and reiterated its long-term 15%+ return-on-tangible-equity target; regional banks rose 2.21%.