Categories AlphaGraphs, Earnings, Finance, LATEST

KeyCorp beats in Q2 helped by loan growth

Regional bank KeyCorp (KEY) posted earnings of $0.44 a share in the second quarter, topping analysts’ estimate of $0.42 a share. Revenue for the quarter increased 0.6% to $1.65 billion, higher than $1.60 billion projected by the market pundits.

The strong results during the second quarter were driven by loan growth and momentum in its commercial and consumer businesses. During the quarter, the company’s taxable-equivalent net interest income was $987 million and the net interest margin was 3.19%.

The company also announced a 42% increase in common share dividend along with a $1.2 billion share repurchase program. Separately, the board declared a cash dividend of $0.17 per share on outstanding common shares. The dividend is payable on September 14, 2018 to holders as on August 28, 2018.

KeyCorp Q2 earnings

The company’s average loans were $88.6 billion, an increase of $2.1 billion compared to Q2 2017, driven by commercial and industrial loans. Average deposits totaled $104 billion, an increase of $1.2 billion compared to the year-ago quarter. This reflects a shift to higher-yielding deposit products, as well as strength in retail banking franchise.

Most Popular

Tyson Foods (TSN) Q1 2023 Earnings: Key financials and quarterly highlights

Tyson Foods Inc. (NYSE: TSN) reported first quarter 2023 earnings results today. Sales rose 2.5% year-over-year to $13.2 billion. Net income attributable to Tyson was $316 million, or $0.88 per

After weak start to 2023, Apple (AAPL) sees some bright spots

Apple Inc. (NASDAQ: AAPL) this week reported its first revenue decline in more than three years, even as the high inflation continues to squeeze customers’ spending power. Sales of the

Earnings: Qualcomm (QCOM) Q1 profit falls on lower revenues

Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported lower earnings and revenues for the first quarter of 2023. The company also provided guidance for the second quarter of 2023. At $9.5

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top