July 19 Midwestern bank KeyCorp posted a
lower quarterly profit but beat Wall Street estimates as credit
quality continued to improve and it released money set aside to
cover bad loans.
Net Income fell to $231 million, or 24 cents per share, down
from $234 million, or 25 cents per share, a year earlier.
The lender earned 23 cents per share from continuing
Analysts on average had expected KeyCorp to earn 18 cents
per share, according to Thomson Reuters I/B/E/S.
Shares of the company closed at $7.83 on Wednesday on the
New York Stock Exchange.