Why Is KeyCorp Stock Shooting Higher Today?
Why Is KeyCorp Stock Shooting Higher Today?
KeyCorp (NYSE:KEY) shares are trading higher after the company disclosed a strategic minority investment agreement with The Bank of Nova Scotia (NYSE:BNS).
KeyCorp（纽交所：KEY）股票正在上涨，因为该公司披露了与Nova Scotia银行（纽交所：BNS）的战略少数股权投资协议。
As per the deal, Scotiabank will invest approximately $2.8 billion in KeyCorp, acquiring about 14.9% of common stock at $17.17 per share.
根据协议，Scotiabank将向KeyCorp投资约28亿美元，以17.17美元/股收购约14.9%的普通股。
The investment is expected to boost KeyCorp's CET1 capital ratio by 195 basis points to 12.4% and increase tangible book value per share by over 10% as of June 30, 2024.
预计该投资将提高KeyCorp的CET1资本充足率195个基点至12.4%，并将增加每股有形账面价值10%以上，截至2024年6月30日。
KeyCorp plans to reposition its available-for-sale securities portfolio to enhance profitability and capital strength after the capital raise. This is expected to increase the CET1 capital ratio to 11.3%-11.6%, be accretive to 2025 EPS, and slightly accretive to 2026 EPS.
KeyCorp计划重新调整其可供出售证券组合，以提高盈利能力和资本实力。此举预计将将CET1资本充足率提高至11.3%-11.6%，对2025年EPS增长有贡献，并对2026年EPS略有贡献。
The pro forma CET1 ratio, including AOCI, should reach 9.1%-9.4%, a 185 to 210 basis point improvement from June 30, 2024, providing a solid buffer for Basel III regulations.
包括AOCI在内的预计CET1比率将从2024年6月30日的7.1%-7.4%提高到9.1%-9.4%，增加185-210个基点，为巴塞尔III条例提供了坚实的缓冲。
Scotiabank will buy about 163 million shares of KeyCorp in two stages: an initial $0.8 billion investment, giving Scotiabank a 4.9% stake after the Hart-Scott-Rodino (HSR) Act waiting period, followed by an additional $2.0 billion investment, increasing its stake to approximately 14.9% upon Federal Reserve approval.
Scotiabank将分两个阶段买入约1.63亿股KeyCorp，即最初的8亿美元投资，在Hart-Scott-Rodino（HSR）法案等待期后，Scotiabank将拥有4.9%的股份，随后进行另外的20亿美元投资，获得联邦储备批准后所持股份将增至约14.9%。
The initial purchase is expected to close by the end of August, with the additional purchase, contingent on customary closing conditions and Federal Reserve approval, anticipated in the first quarter of 2025.
预计最初的购买将在8月底前完成，随之而来的另一笔购买取决于惯例收盘条件和联邦储备批准，预计将于2025年第一季度完成。
"Scotiabank approached us with a unique opportunity to raise capital on attractive terms. While we continue to be comfortable with our current capital position, we determined that the investment enables Key to accelerate our well-communicated capital and earnings improvement while bolstering our strategic position," said KeyCorp Chairman and Chief Executive Officer Chris Gorman.
KeyCorp董事长兼首席执行官Chris Gorman表示：“Scotiabank向我们提出了一项独特的、在有吸引力的条件下筹集资本的机会。虽然我们对目前的资本状况感到满意，但我们认为该投资能加速我们已经明确沟通的资本和收益改善，同时巩固我们的战略地位。”
In July, KeyCorp reported second quarter EPS of $0.25, in line with the consensus, and sales of $1.526 billion, surpassing the consensus of $1.525 billion.
7月份，KeyCorp报告了每股收益0.25美元的第二季度，符合共识，销售额为15.26亿美元，超过共识的15.25亿美元。
Price Action: KEY shares are up 17.9% at $17.24 premarket at the last check Monday.
股价表现：截至上周一的最后查看时，关键公司的股价在盘前涨了17.9%，报17.24美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免责声明：本内容部分使用人工智能工具生成，并经Benzinga编辑审核发布。
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