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
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

10 Banks That Still Owe TARP

4. KeyCorp

Company Profile

KeyCorp (KEY) 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.

Stock quotes in this article: RF, SNV, HBAN, BPOP, KEY, FITB, MI 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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.
DOW 16,483.09 -18.56 -0.11%
S&P 500 1,876.11 +0.72 0.04%
NASDAQ 4,139.6220 +12.6550 0.31%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs