KeyCorp reports Q3 EPS 29c, consensus 27c

Reports Q3 revenue $1.57B, consensus $1.56B. Reports Q3 CET1 capital ratio 9.8%. Reports Q3 book value per share $11.65. The company said, “Key‘s third quarter results reflect continued momentum across our franchise, supported by our strong balance sheet and disciplined risk management. Our focus on relationship banking drove both core deposit growth and a planned reduction in non-relationship loan balances. Our Common Equity Tier 1 ratio is above our targeted capital range, increasing by 50 basis points, to 9.8%, through proactive balance sheet management. We remain well positioned to support our clients and return capital to our shareholders. Another strength of our company is credit quality. We continue to benefit from our high-quality, relationship-based loan portfolio and our distinctive, underwrite-to-distribute business model. Net charge-offs to average loans remained low, at 24 basis points. We remain committed to strengthening both capital and liquidity, managing risk, and improving earnings while continuing to invest. I am confident in the long-term outlook for Key and in our ability to deliver value to all of our stakeholders.”