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Shares of many bank stocks moved higher today as Congress passed the debt ceiling bill last night and the market reacted positively to the May jobs report released this morning. Shares of the credit card and payments company American Express (NYSE: AXP) traded roughly 4% higher as of 12:32 p.m. ET today. Meanwhile, shares of PacWest Bancorp (NASDAQ: PACW) traded nearly 14% higher, while shares of KeyCorp (NYSE: KEY) were up about 6%.
Shares of most bank stocks headed south today as concerns over the sector came back into focus and seemed to worry investors that the banking crisis is not yet over. Shares of Truist Financial (NYSE: TFC) traded roughly 2.4% lower as of 1:44 p.m. ET today. Meanwhile, shares of KeyCorp (NYSE: KEY) traded nearly 6% lower, while shares of Comerica (NYSE: CMA) were down by roughly 4.5%.
KeyCorp (KEY) closed the most recent trading day at $9.93, moving +0.4% from the previous trading session.
Since the start of the banking crisis in March, large and super regional bank stocks have been hit especially hard. As I pointed out in an article published on the eve of the banking crisis, KeyCorp's deposit beta performed very well in 2022, coming in at just 16%. The deposit beta looks at how much a bank will raise deposit pricing in response to changes in interest rates over a set period of time, so the lower the beta the better.
KeyCorp ( NYSE:KEY ) is about to trade ex-dividend in the next 2 days. The ex-dividend date occurs one day before the...
After entering bear market territory in 2022, the S&P 500 (SNPINDEX: ^GSPC) has yet to regain the bull market designation. Unfortunately, the S&P 500's overall progress this year is not universal and several companies in the index are having a rough 2023.
Shares of many bank stocks rallied this week after being sold off heavily last week. Banks got a lift along with the broader market on news that debt ceiling discussions were progressing, but there was also industry-specific and company-specific news. Shares of the credit card lender Capital One Financial (NYSE: COF) traded more than 11% higher for the week as of noon Thursday, according to data from S&P Global Market Intelligence.
Shares of bank stocks are rallying today after Western Alliance Bancorporation (NYSE: WAL) issued a positive update on its deposit trends this morning. Shares of Western Alliance traded more than 10% higher as of 10:20 a.m. ET today. Meanwhile, shares of PacWest Bancorp (NASDAQ: PACW) traded nearly 6.7% higher, while shares of KeyCorp (NYSE: KEY) were up more than 4%.
Shares of several bank stocks rose today after selling off last week, largely due to positive sentiment from Wall Street. Shares of Western Alliance Bancorp (NYSE: WAL) rose nearly 12% today, shares of KeyCorp (NYSE: KEY) rose more than 6.5%, and shares of Charles Schwab (NYSE: SCHW) ended the day up more than 4%. Bank stocks got hit extremely hard last week but there wasn't a lot of new information that came to light.
The board of KeyCorp ( NYSE:KEY ) has announced that it will pay a dividend on the 15th of June, with investors...
A lack of loan diversification and a steady rise in operating expenses are major near-term headwinds for KeyCorp (KEY).
The Yahoo Finance Live team discusses the rise of PacWest Bancorp stock, as the company leads the rally of regional banks amid the quarterly dividend.
Over the last year, a good number of insiders have significantly increased their holdings in KeyCorp ( NYSE:KEY ). This...
The Yahoo Finance Live team discusses the performance of regional bank stocks after JPMorgan upgrades three to Buy amid the ongoing bank crisis.
After a brutal week for the sector, bank stocks rebounded today despite a hotter-than-expected jobs report. Shares of PacWest Bancorp (NASDAQ: PACW), which has been under intense pressure, had blasted more than 82% higher as of 11:26 a.m. ET today. Meanwhile, shares of Comerica (NYSE: CMA) traded nearly 17% higher, and shares of KeyCorp (NYSE: KEY) were up nearly 11%.
PacWest and Western Alliance fell again Wednesday after plummeting Tuesday.
The Fed is likely to announce another 25-basis point hike in rates. The U.S. regional banks like PACW, WAL, ZION, CMA and KEY witness bearish investor sentiments on concerns over the impact of future rate hikes on financials.
Their drops come one day after JPMorgan Chase purchased the bulk of First Republic, in a deal that was designed to restore stability to the banking system after two months of turmoil.
The stock price is down about 45% year to date (YTD), trading at around $9.60 as of May 2. The major market indexes were up slightly in April as the S&P 500 gained 1.5%, the Dow Jones Industrial Average was up 2.5%, and the Nasdaq Composite was up 0.1%. KeyCorp is the holding company for KeyBank, which is the 20th largest bank in the U.S. with roughly $198 billion in assets.
The seizure and sale of First Republic's assets to JPMorgan Chase yesterday has seemingly put concerns about banks back into the spotlight today.
Investors need to pay close attention to KeyCorp (KEY) stock based on the movements in the options market lately.
Results from a number of mid-sized lenders showed that regional banking isn't getting any easier.
Results from several mid-sized lenders, including Comerica and Key, don't impress investors.
Higher NII on the back of decent loan demand and rising rates support KeyCorp's (KEY) Q1 earnings amid increased provisions, deposit outflows and higher funding costs.
The headline numbers for KeyCorp (KEY) give insight into how the company performed in the quarter ended March 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.