KeyCorp reports Q4 adjusted EPS 38c, consensus 32c

Reports Q4 book value per share $14.21. Reports Q4 CET1 capital ratio 12%. The company said, “Our fourth quarter results marked a strong finish to the year. EPS and revenue were impacted by the previously communicated completion of our securities portfolio repositioning. On an adjusted basis(a), revenues were up 16% year-over-year and 11% sequentially. Net interest income was up 10% quarter-over-quarter and fees (as adjusted(a)), were up meaningfully versus comparable periods. We achieved year-over-year positive operating leverage for a second consecutive quarter. On a linked quarter basis, net charge-offs were down 26% and criticized loans down 7%.”