NEW YORK - Two significant banking institutions, First Horizon (NYSE:FHN) National and KeyCorp (NYSE:KEY), have projected a decline in their fourth-quarter earnings and revenue compared to the previous year. Investors are bracing as these forecasts suggest a tightening financial environment for the banking sector.
First Horizon National expects its fourth-quarter earnings per share (EPS) to drop to $0.26, a notable decrease from $0.45 reported in the same quarter of the previous year. Additionally, the bank anticipates a revenue decline of 10.69% to $787.7 million.
Similarly, KeyCorp's fourth-quarter projections also indicate a downward trend, with an expected EPS of $0.23, which is lower than the $0.380 recorded last year. The bank's revenue is estimated to fall to approximately $1.52 billion.
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