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KeyCorp tops Street 4Q forecasts

KeyCorp on Thursday reported fourth-quarter net income of $248 million.

The bank, based in Cleveland, said it had earnings of 28 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The bank holding company posted revenue of $1.07 billion in the period, also topping Street forecasts. Analysts expected $1.04 billion, according to Zacks.

For the year, the company reported profit of $878 million, or 99 cents per share. Revenue was reported as $4.09 billion.

KeyCorp shares have decreased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 1 percent. The stock has fallen 12 percent in the last 12 months.

This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on KEY at