Three Notable Stocks in Focus- KeyCorp (NYSE:KEY), U.S. (NYSE:USB), Procter & Gamble (NYSE:PG)

On Thursday, Shares of KeyCorp (NYSE:KEY), gained 4.72% to $13.31. 20.80 million shares of the company were exchanged.

KeyCorp (KEY) declared third quarter net income from ongoing operations attributable to Key common shareholders of $216 million, or $.26 per common share, contrast to $230 million, or $.27 per common share, for the second quarter of 2015, and $197 million, or $.23 per common share, for the third quarter of 2014. During the third quarter of 2015, Key incurred $19 million, or $.01 per common share, of costs related to a pension settlement charge, contrast to $20 million, or $.01 per common share, during the third quarter of 2014.

For the nine months ended September 30, 2015, net income from ongoing operations attributable to Key common shareholders was $668 million, or $.78 per common share, contrast to $671 million, or $.76 per common share, for the same period one year ago.

THIRD QUARTER 2015 FINANCIAL RESULTS, from ongoing operations

Contrast to Third Quarter of 2014

  • Average loans up 6%, driven by 15% growth in commercial, financial and agricultural loans.
  • Average deposits, not taking into account deposits in foreign office, up 3% due to continued growth in commercial mortgage servicing and inflows from commercial and consumer clients.
  • Net interest income (taxable-equivalent) up $17 million, as higher earning asset balances offset lower earning asset yields.
  • Noninterest income up $53 million due to strength in Keys core fee-based businesses, which comprised of a full-quarter impact of the September 2014 Pacific Crest Securities acquisition.
  • Noninterest expense up $18 million primarily attributable to higher performance-based compensation and a full-quarter impact of the September 2014 Pacific Crest Securities acquisition.
  • Asset quality remained strong, with net loan charge-offs to average loans of .27%.
  • Disciplined capital administration, repurchasing $123 million of common shares during the third quarter of 2015 and maintaining a solid capital position with an estimated Common Equity Tier 1 ratio of 10.51%.

KeyCorp. operates as the bank holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States.

Shares of U.S. Bancorp (NYSE:USB), inclined 1.26% to $41.01, during its last trading session.

U.S. Bancorp (USB) stated net income of $1,489 million for the third quarter of 2015, or $0.81 per diluted common share, contrast with $1,471 million, or $0.78 per diluted common share, in the third quarter of 2014.

Net income attributable to U.S. Bancorp was $1,489 million for the third quarter of 2015, 1.2 percent higher than the $1,471 million for the third quarter of 2014, and 0.4 percent higher than the $1,483 million for the second quarter of 2015. Diluted earnings per common share of $0.81 in the third quarter of 2015 were $0.03 higher than the third quarter of 2014 and $0.01 higher than the previous quarter. The enhance in net income year-over-year was due to higher net interest income and noninterest income, together with a reduction in the provision for credit losses, partially offset by an enhance in noninterest expense. The enhance in net income on a linked quarter basis was primarily due to enhances in net interest income and noninterest income, partially offset by higher noninterest expense.

Net income attributable to U.S. Bancorp for the third quarter of 2015 was $18 million (1.2 percent) higher than the third quarter of 2014, and $6 million (0.4 percent) higher than the second quarter of 2015. The enhance in net income year-over-year was due to higher net interest income, primarily due to growth in earning assets, and noninterest income, primarily driven by enhances in commercial products, payments and trust and investment administration fee revenue. These enhances were offset by an enhance in noninterest expense, which comprised of higher compensation and employee benefits expense and other costs related to risk and compliance activities. The enhance in net income on a linked quarter basis was primarily due to enhances in net interest income and noninterest income, partially offset by higher noninterest expense. As formerly revealed in recent weeks, the third quarter of 2015 comprised of several unrelated items that, combined, were relatively neutral to earnings.

U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.

At the end of Thursday’s trade, Shares of Procter & Gamble Co (NYSE:PG), inclined 0.08% to $74.27.

The Board of Directors of The Procter & Gamble Company (PG) declared a quarterly dividend of $0.6629 per share on the Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the Company, payable on or after November 16, 2015, to Common Stock shareholders of record at the close of business on October 23, 2015, and to Series A and Series B Preferred Stock shareholders of record at the start of business on October 23, 2015.

The dividend was declared during P&G’s annual shareholder meeting in Cincinnati. P&G has been paying a dividend for 125 successive years since its incorporation in 1890 and has raised its dividend for 59 successive years.

The Procter & Gamble Company, together with its auxiliaries, manufactures and sells branded consumer packaged products worldwide. It operates through five segments: Beauty, Hair and Personal Care; Grooming; Health Care; Fabric Care and Home Care; and Baby, Feminine and Family Care.

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About Travis Garlick 1759 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.