KeyCorp (KEY) Redeems Preferred Stock As Its NII Narrative Points To Higher Fair Value

Simply Wall St.01:19

AdvertisementKeyCorp preferred stock redemption sets the context for NYSE:KEY KeyCorp (KEY) has notified holders that it plans to redeem all 525,000 depositary shares of its Series D preferred stock ...

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See our latest analysis for KeyCorp. At a share price of $21.87, KeyCorp has seen a 7 day share price return that declined 5.08% and a 30 day share price return that declined 3.44%, while its 1 year total shareholder return of 19.85% and 3 year total shareholder return of about 13x indicate momentum has built over a longer horizon. If this preferred stock redemption has you thinking about where else capital could work, this is a good moment to broaden your search with the 20 top founder-led companies KeyCorp is retiring a sizeable preferred layer and has built solid multi year shareholder returns, yet those facts alone do not answer what really matters next. The key question is whether you are paying a fair price for that strength today. Most Popular Narrative: 16% Undervalued KeyCorp's most followed narrative anchors on a fair value of $26.02 compared with the recent $21.87 share price, which frames the preferred stock redemption against a wider repricing story.  The anticipated shift from net interest income (NII) headwinds to tailwinds due to a pivot in fixed asset repricing and the structure of swap and treasury maturities, expected to significantly enhance NII in the forthcoming quarters, impacting revenue growth positively.  Read the complete narrative. Read the complete narrative. Want to see what sits behind that fair value for KeyCorp? The narrative leans on revenue momentum, firm profit margins and a future earnings multiple that assumes disciplined execution. The exact path is laid out in the full storyline. Result: Fair Value of $26.02 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, there are still clear brakes on the KeyCorp narrative, including higher nonperforming loans and a larger stress capital buffer. This could constrain future flexibility. Find out about the key risks to this KeyCorp narrative. Next Steps Given the mixed signals around KeyCorp, this is a good time to act promptly, review the full risk and reward profile, and shape your own view with the 4 key rewards and 1 important warning sign Looking for more ideas beyond KeyCorp? If KeyCorp has sharpened your thinking, do not stop there. Use focused stock lists to spot other opportunities that fit your risk, income, and quality preferences.  Target potential mispricings by scanning companies that combine quality fundamentals with appealing valuations through the 49 high quality undervalued stocks. Strengthen your income stream by checking out stocks with robust yields and resilient payouts using the 12 dividend fortresses. Protect your capital by filtering for companies with resilient balance sheets and solid financial profiles via the solid balance sheet and fundamentals stocks screener (51 results).   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n        and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n        financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n        Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n        Simply Wall St has no position in any stocks mentioned.Valuation is complex, but we're here to simplify it.Discover if KeyCorp might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. 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