KeyCorp
KEY: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$73.00 | Kqq | Hfqmpgx |
Circling Back On KeyCorp After Q4 Earnings; Maintaining Our Fair Value Estimate of $24
Business Strategy and Outlook
KeyCorp is a mid-sized U.S. regional bank. The firm has the largest relative exposure to investment banking-related fees among the regional banks under our coverage, is investing in a unique digitally focused retail business (Laurel Road), and has an odd geographic mix, as Ohio, New York, and Washington state are its three largest deposit markets.