This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Banks That Still Owe TARP

4. KeyCorp

Company Profile

KeyCorp (KEY - Get Report) of Cleveland, Ohio has seen its shares rise 43% this year to close at $7.95 Wednesday. The company owes $2.5 billion in TARP money.

Income Statement

The company reported second-quarter net income to common shareholders of $29 million, or 6 cents a share, compared to net losses to common shareholders of $96 million, or 11 cents, for the first quarter and $394 million, or 68 cents a share, in the second quarter of 2009. KeyCorp's improving asset quality enabled the company to release loan loss reserves during the first and second quarters. For the second quarter, net loan charge-offs totaled $557 million while the provision for loan loss reserves was $413 million.

Balance Sheet

Total assets were $94.3 million as of June 30. The nonperforming assets ratio was 2.60% and the net charge-off ratio for the second quarter was 3.02%, while reserves covered 3.86% of total loans as of June 30.

KeyCorp's Tier 1 leverage ratio was 12.09% and its total risk-based capital ratio was 17.80%. The company's tangible common equity ratio was 7.65% according to SNL Financial.

Stock Ratios

The shares trade just below tangible book value and for 21 times the consensus 2011 earnings estimate of 38 cents a share among analysts polled by Thomson Reuters. Based on the consensus estimate of 66 cents a share for 2012, the forward P/E would be 12.

Analyst Ratings

Out of 21 analysts covering KeyCorp, three recommend buying the shares, 14 have hold ratings and four recommend selling.

7 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ZION $27.61 0.00%
FITB $19.54 0.00%
FHN $14.18 0.00%
HBAN $10.79 0.00%
KEY $14.23 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs