KeyCorp (NYSE:KEY) shares fell 2.5% in early Thursday trade after the financial services company reported results for its fourth quarter.
The company reported Q4 EPS of $0.25, ahead of the analyst estimate of $0.23. Revenue for the quarter came in at $1.54 billion, meeting analyst consensus.
"Underlying performance in the quarter was solid. Net interest income stabilized, expenses were well-controlled, credit costs remained low, and our capital position continued to improve. We also continued to invest in our differentiated fee-based businesses which we anticipate will gain traction as conditions improve in the capital markets,” said Chairman and CEO, Chris Gorman.
Total deposits amounted to $145.08 billion, ahead of the consensus of $143.75 billion. Net interest income (NII) was $928 million, beating the expected $918 million.
However, the company said it sees FY NII to drop between 2% and 5%.