KeyCorp (KEY) released its first quarter results on Tuesday, April 20, 2021. The company reported net earnings of $0.61 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 400 percent compared to the same period a year ago.
The company was founded in 1849 and is headquartered in Cleveland, Ohio. KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank.
KeyCorp's revenue decreased 3 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 41.92% over the same period. Net earnings for past trailing twelve months were $1690.0 million, up 26% from the prior year.
Moving on to the balance sheet, KeyCorp’s cash levels dropped nan% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 137.63% this past year. The current ratio for KeyCorp now stands at 0.13. The company decreased shares outstanding by 0.28%.
Shares of KEY are currently trading around $19.84. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 11.29 and price to book ratio of 1.23.