Welcome to our dedicated page for Keycorp news (Ticker: KEY), a resource for investors and traders seeking the latest updates and insights on Keycorp stock.
About KeyCorp
KeyCorp (symbol: KEY) is a venerable institution with nearly two centuries of history in the financial services industry. As one of the nation’s largest bank-based companies, KeyCorp operates through a diversified business model that spans retail banking, commercial lending, investment banking, wealth management, and cash management. The company has built its reputation on providing reliable, innovative financial solutions tailored to both individual consumers and middle-market commercial clients.
Comprehensive Financial Services
KeyCorp offers a wide range of financial products and services that cover every aspect of modern banking. With a focus on deposit services, lending solutions, and advanced cash management, the firm caters to the needs of everyday consumers while also offering sophisticated services such as merger and acquisition advisory, public and private debt and equity solutions, syndicated loans, and derivatives. Its investment banking division, known under a distinct trade name, serves as a cornerstone for middle-market companies seeking to optimize their capital structures.
Business Model and Market Position
Operating primarily in a multi-state footprint with strong concentrations in Ohio and New York, KeyCorp’s hybrid community/corporate banking model allows it to maintain close relationships with local businesses and communities even as it provides nationwide services. This dual approach not only reinforces its legacy as a trusted community bank but also underscores its ability to compete with larger financial institutions by offering personalized service alongside cutting-edge financial products.
Operational Excellence and Client-Centric Approach
At the heart of KeyCorp’s operations is a commitment to its clients. The bank has long adhered to a philosophy that prioritizes doing the right thing for its customers and shareholders. By building and empowering a team of engaged professionals, KeyCorp maintains a culture centered on relationship-based banking. This not only fosters client loyalty but also drives dynamic growth in service areas such as wealth management and commercial payments.
Expertise and Industry Insight
The company’s breadth of experience within the banking sector is evident in its diverse service lines and the depth of its market insight. KeyCorp leverages longstanding expertise to manage risk, optimize capital structures, and continuously innovate its product offerings. Financial analysts and industry experts recognize KeyCorp for its strategic balance between traditional banking services and modern financial solutions, making it a pivotal player within the competitive landscape of the financial services industry.
Competitive Landscape and Differentiators
While many financial institutions operate at the intersection of retail and investment banking, KeyCorp distinguishes itself through its focused commitment to middle-market commercial clients. Its localized market presence, combined with sophisticated corporate banking tools, positions KeyCorp to deliver both personalized client service and high-quality advisory solutions. This pricing precision and risk management set the company apart in a market where reliability and strategic insight are paramount.
Commitment to Community and Quality
KeyCorp’s legacy is also defined by its involvement in community-based initiatives and partnerships that enhance the quality of life in the areas it serves. The bank has historically supported community development projects and engaged in philanthropic efforts that strengthen local economies. This dual emphasis on financial performance and community impact reinforces the brand’s reputation for trustworthiness and ethical practice.
Summing Up KeyCorp
- Heritage and Legacy: Nearly two centuries of banking expertise.
- Diverse Service Portfolio: Comprehensive offerings from retail banking to investment strategy.
- Client-Focused Culture: Driven by relationship-based banking and operational excellence.
- Market Intelligence: A hybrid model that successfully blends community banking with corporate services.
- Industry Expertise: In-depth knowledge and sophisticated risk management practices.
This detailed exploration of KeyCorp highlights the fundamentals of its business model and emphasizes the critical factors behind its ongoing success in a competitive market. By providing a complete and balanced overview of its operations, KeyCorp remains a significant point of reference for those seeking to understand the dynamics of bank-based financial services.
Key Wealth, KeyBank's wealth management division (NYSE:KEY), has expanded its strategic partnership with Envestnet to enhance its wealth management platform capabilities. The collaboration aims to provide Key Wealth advisors with comprehensive access to Envestnet's technology and data-driven solutions.
The enhanced platform will deliver:
- Digital client experience with improved advisor-client collaboration
- Integrated financial planning tools for tailored strategies
- Advanced portfolio management and analytics including risk analysis and AI-driven insights
Key Wealth, managing approximately $61 billion in assets as of December 31, 2024, will leverage Envestnet's ecosystem to streamline advisor workflows and deliver personalized client experiences. Envestnet currently serves over 111,000 advisors with more than $6.5 trillion in platform assets as of September 30, 2024.
KeyCorp (NYSE: KEY) has announced its participation in the 2025 RBC Capital Markets Global Financial Institutions Conference, scheduled for March 4, 2025, at 11:20 a.m. ET in New York City. Chief Financial Officer Clark Khayat will represent the company, discussing performance, strategy, and outlook.
The presentation will be accessible via live audio webcast on www.key.com/ir. The year 2025 marks KeyCorp's bicentennial, celebrating 200 years of service across regions from Maine to Alaska. As of December 31, 2024, KeyCorp reported assets of approximately $187 billion.
KeyCorp operates through KeyBank National Association with:
- Approximately 1,000 branches
- 1,200 ATMs across 15 states
- Services including deposits, lending, cash management, and investments
- Corporate and investment banking through KeyBanc Capital Markets
KeyBank's wealth management division, Key Private Bank, has been awarded for 'Private Banking Client Service' at the 2025 Private Asset Management (PAM) Awards in New York City, marking their fifth recognition in this category. The award acknowledges the bank's excellence in providing customized wealth management and financial planning solutions to high-net-worth clients.
Key Private Bank, managing $55 billion in AUM and $60 billion in AUA as of December 31, 2024, operates across 15 states. The parent company, KeyCorp (NYSE:KEY), holds assets of approximately $187 billion and maintains a network of about 1,000 branches and 1,200 ATMs, offering comprehensive banking services including corporate and investment banking products.
KeyCorp (NYSE: KEY) has announced its participation in the upcoming Bank of America Securities 2025 Financial Services Conference. The company's Chairman and Chief Executive Officer, Chris Gorman, is scheduled to speak at the event on Tuesday, February 11, 2025, at 8:00 a.m. ET in Miami. During the presentation, KeyCorp will provide an overview of its performance, strategy, and future outlook.
KeyBank has launched a year-long bicentennial celebration marking 200 years of service since its founding in 1825 in Albany, New York. The celebration includes the unveiling of a digital KeyBank Heritage Center offering an interactive journey through the bank's history, and plans for a state-of-the-art museum at the company's Cleveland headquarters opening in April.
With 17,000 teammates, millions of clients, and operations spanning from Maine to Alaska, KeyBank stands as one of the nation's largest bank-based financial services companies, managing assets of approximately $187 billion as of December 31, 2024. The bank operates through approximately 1,000 branches and 1,200 ATMs across 15 states, providing deposit, lending, cash management, and investment services under KeyBank National Association, along with corporate and investment banking products through KeyBanc Capital Markets.
KeyCorp (NYSE: KEY) reported a Q4 2024 net loss of $(279) million, or $(0.28) per diluted share, with adjusted net income of $378 million, or $0.38 per diluted share. The quarter included $(657) million after-tax charges related to securities sale losses.
Revenue reached $865 million, with adjusted revenue up 16% year-over-year. Net interest income increased 10% quarter-over-quarter, while investment banking, payments, and wealth management fees grew 27% year-over-year. The Common Equity Tier 1 ratio improved by 120 basis points to 12%.
Key's performance showed positive trends with client deposits up 4%, Assets Under Management reaching a record $61 billion, and net charge-offs down 26% quarter-over-quarter. The company completed Scotiabank's minority investment during the quarter and marked strong momentum across investment banking, commercial payments, and wealth management segments.
KeyCorp (NYSE: KEY) has announced its dividend declarations for the first quarter of 2025. The company will pay a cash dividend of $0.205 per share on its common shares, payable on March 14, 2025, to shareholders of record as of March 4, 2025.
The board also declared dividends on several series of preferred stocks, all payable on March 17, 2025, to holders of record as of March 3, 2025. These include:
- Series D: $312.50 per share ($12.50 per depositary share)
- Series E: $15.3125 per share ($0.382813 per depositary share)
- Series F: $14.1250 per share ($0.353125 per depositary share)
- Series G: $14.0625 per share ($0.351563 per depositary share)
- Series H: $15.50 per share ($0.3875 per depositary share)
The company also announced that its 2025 Annual Meeting of Shareholders will be held on Thursday, May 15, 2025.
KeyCorp (NYSE:KEY) has announced the appointment of Mohit (Mo) Ramani as its new Chief Risk Officer (CRO), effective January 23, 2025. Ramani joins from Truist Financial , where he served as Deputy Chief Risk Officer, bringing experience from previous roles at Goldman Sachs and Bank of America.
Ramani will be a member of Key's executive leadership team, reporting directly to Chairman and CEO Chris Gorman. In his role as CRO, he will lead the risk management team and oversee all aspects of Key's risk management function. He brings expertise in leading transformative changes in risk management platforms and practices, with a track record of building internal partnerships while maintaining regulatory compliance.
KeyBank's annual Financial Mobility Survey reveals significant insights about Americans' financial health and anxiety. While 50% of Americans report financial stress, 45% could access $2,000 for emergencies within a month. The survey found that 33% feel stressed about debt, yet 37% need less than $5,000 to relieve this stress.
Key findings show that 70% are confident in paying monthly credit card bills, and 87% can meet mortgage/rent payments. Notably, 44% report having no credit card debt. While 68% say they need more money to live comfortably, 45% are less than $2,500 per month away from their comfort goal. However, homeownership remains challenging, with 46% of non-homeowners viewing it as unattainable, up from 39% last year.
The survey, conducted in September 2024, included 1,000 Americans aged 18-70 who have banking accounts and household financial responsibilities.
KeyBank's Key4Women is hosting a free virtual webinar titled 'Liar Liar Pants on Fire!' on January 15th, 2025, featuring Fraud-Busting Body Language Expert Traci Brown. The one-hour session will focus on teaching techniques based on Body Language and Forensic Linguistics to detect lies and make better business decisions.
Brown, ranked #3 body language expert globally for 2024, will share nine telltale signs of lying, methods to uncover truth, and strategies to avoid becoming a victim. The webinar aims to help attendees improve their decision-making in sales, negotiations, hiring, and risk management.
Key4Women, launched in 2005, has surpassed its initial goal of $1 billion in loans to women-owned businesses, now reaching over $12 billion in total lending. The program offers free membership and provides access to Certified Key4Women Advisors who support women business leaders in their financial journey.
FAQ
What is the current stock price of Keycorp (KEY)?
What is the market cap of Keycorp (KEY)?
What is the core business of KeyCorp?
How does KeyCorp serve its clients?
What types of financial products does KeyCorp offer?
In which regions does KeyCorp primarily operate?
What makes KeyCorp's business model unique?
How does KeyCorp maintain operational excellence?
How does KeyCorp differentiate itself from competitors?
What role does KeyCorp play in community development?
