-=KeyCorp (KEY) reported earnings on Thur 20 Jul 23 (b/o)

 

KeyCorp misses by $0.05, misses on revs 

• Reports Q2 (Jun) earnings of $0.27 per share, $0.05 worse than the FactSet Consensus of $0.32; revenues fell 11.0% year/year to $1.6 bln vs the $1.62 bln FactSet Consensus.
• Q2 Net interest margin (TE) from continuing operations 2.12% vs 2.47% in Q1

Unusual Options Activity, Fri 6/16/23

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

Bullish Call Activity:

• KEY Jun 10 calls (volume: 2370, open int: 520, implied vol: ~102%, prev day implied vol: 63%). 1500 contracts traded in a single transaction. Co is confirmed to report earnings July 20 before the open.
• CRNC Jul 40 calls are seeing interest with the underlying stock up 5% (volume: 2720, open int: 0, implied vol: ~59%, prev day implied vol: 46%). Co is expected to report earnings early August.
• LVS Jun 61 calls (volume: 3190, open int: 80, implied vol: ~34%, prev day implied vol: 32%). 1300 contracts traded in a single transaction. Co is expecting to report earnings mid-July.
• WBA Jun 32.5 calls (volume: 11.5K, open int: 200, implied vol: ~25%, prev day implied vol: 24%). Co is confirmed to report earnings Jun 27 before the open.
  

Bearish Put Activity:

• PCG Jun 15 puts (volume: 1880, open int: 410, implied vol: ~25%, prev day implied vol: 22%). Co is expected to report earnings early August.
• DBX Jun 25.5 puts (volume: 1500, open int: 350, implied vol: ~34%, prev day implied vol: 32%). Co is expecting to report earnings early August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.88, VIX: (13.74, -0.76, -5.2%).
Today is options expiration -- the last day to trade June equity options.

Insider Trading (Fri 5/5/23)

Notable purchases -- Execs add to EWBC; notable sales -- EVP active in BMY

Buyers:

• ADT President & CEO, EVP-CFO, EVP-COO, EVP-Chief Business Officer, EVP-CLO and Secretary bought a total of 132,000 shares at $4.91 - $5.16 worth ~$667K. 
• FHN Directors (2) bought a total of 35,138 shares at $9.935 - $10.18 worth ~$351K.
• EWBC Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, and one (1) Executive Vice President bought a total of 21,130 shares at $41.25 - $43.00 worth ~$893K.
• KEY Head of Institutional Bank bought 75,000 shares at $9.77 - $9.79 worth ~$734K.
• NWL Chief Financial Officer bought 100,100 shares at $9.92 - $9.99 worth ~$999K.
• STEL Directors (3) bought a total of 144,952 shares at $21.10 - $21.99 worth ~$3.2 mln.
• WSC Chief Executive Officer bought 5,000 shares at $44.62 worth ~$223K.

Sellers:

• BMY EVP & President, Research sold 50,385 shares at $67.05 - $67.111 worth ~$3.4 mln.
• FICO EVP sold 1,335 shares at $739.95 - $740.47 worth ~$988K.
• MMC Director sold 5,500 shares at $179.69 - 179.765 worth ~$988K.
• ORLY EV Chairman of the Board sold 27,000 shares at $925.30 - $931.79 worth ~$25.1 mln.
• PAG Directors (2) sold 10,553 shares at $140.79 - $141.54 worth ~$1.5 mln.

-=KeyCorp (KEY) reported earnings on Thur 17 Jan 2019 (b/o)

KeyCorp misses by $0.02

• Reports Q4 (Dec) earnings of $0.45 per share, $0.02 worse than the S&P Capital IQ Consensus of $0.47.
  • 4Q18 results included a net impact of $.03 per common share related to notable items: a pension settlement charge and efficiency initiative expenses
• Q4 Net interest margin from continuing operations of 3.16% vs 3.18% in Q3
• Cash efficiency ratio and return on average tangible common equity improved over 300 basis points vs. the prior year
• Strong credit quality: 4Q18 net charge-offs to average loans of .27%

KeyCorp provides FY19 outlook in slide presentation and long term guidance

• Co sees FY19 loans of $90-91 bln.
• Co sees FY19 net interest income of $4.0-4.1 bln.
• Co sees long term cash efficiency ratio of 54-56%.

Earnings this week : Jan 14 - 18, 19 (wk 3)

Corporate profits will take center stage when fourth quarter earnings season kicks off this week.

The SEC allows companies a larger window to file their annual reports relative to quarterly updates. As a result, we will see preannouncements throughout January and fourth quarter earnings season will drag on into March.

This week, the big banks will dominant the corporate earnings newsflow.

Monday (Jan 14)    

• Morning: C SJR

Tuesday (Jan 15)

• Morning: DAL FRC INFO JPM SNV UNH WFC
• Afternoon: FULT PNFP UAL

Wednesday (Jan 16)

• Morning: BAC BLK BK CMA GS PNC SCHW USB WAFD
• Afternoon: AA CSX EGBN FUL HWC KMI PLXS

Thursday (Jan 17)

• Morning: BBT CBSH FAST HOMB IIIN KEY MS MTB MTG PPG SASR SBNY TSM WNS
• Afternoon: AXP JBHT NFLX OZK PBCT PRGS TEAM

Friday (Jan 18)

• Morning: CFG FHN KSU RF SLB STI STT VFC

=KeyCorp (KEY) reported earnings on Thur 20 Jul 2017 (b/o)

CLEVELAND (AP) _ KeyCorp (KEY) on Thursday reported second-quarter net income of $412 million.

The bank, based in Cleveland, said it had earnings of 36 cents per share. Earnings, adjusted for non-recurring gains and to account for discontinued operations, were 34 cents per share.

The results met Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 34 cents per share.

The bank holding company posted revenue of $1.77 billion in the period. Its adjusted revenue was $1.63 billion, which beat Street forecasts. Seven analysts surveyed by Zacks expected $1.52 billion.

KeyCorp shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 10 percent. The stock has increased 63 percent in the last 12 months.

=KeyCorp (KEY) reported earnings on Thur 20 Apr 2017 (b/o)

KeyCorp beats by $0.04, beats on revs :

• Reports Q1 (Mar) earnings of $0.32 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.28; revenues rose 44.4% year/year to $1.51 bln vs the $1.47 bln Capital IQ Consensus. 
• Average loans were $86.1 billion for the first quarter of 2017, an increase of $26 billion compared to the first quarter of 2016, primarily reflecting the impact of the First Niagara acquisition and growth in commercial and industrial loans.