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KeyCorp - KEY STOCK NEWS

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.

KeyCorp (NYSE: KEY) is a prominent financial services company headquartered in Cleveland, Ohio, with roots dating back nearly 200 years to Albany, New York. As one of the nation's largest bank-based financial services companies, KeyCorp has assets of approximately $187 billion as of March 31, 2024. The company operates under the name KeyBank National Association and serves clients through a network of approximately 1,000 branches and 1,200 ATMs across 15 states.

KeyCorp's core services include deposit, lending, cash management, and investment services tailored to individuals and businesses. The company also offers sophisticated corporate and investment banking products such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies throughout the United States under the KeyBanc Capital Markets trade name.

KeyBank is committed to making homeownership more accessible through its array of mortgage products and special purpose credit programs. Recently, the bank introduced Freddie Mac's Home Possible® mortgage loan, designed to offer more options and credit flexibilities to eligible individuals, aiming to boost homeownership rates.

The company also emphasizes wealth management for high net worth (HNW) and ultra-high net worth (UHNW) clients through Key Wealth, which includes Key Private Bank, Key Family Wealth, and Key Institutional Advisors. A strategic partnership with Neuberger Berman has further enhanced Key Wealth's offerings by integrating customized portfolio management to optimize tax efficiency and deliver better client outcomes.

Additionally, KeyCorp focuses on community development and corporate social responsibility. It has invested significantly in projects aimed at affordable housing, supporting small businesses, and educational initiatives. For instance, KeyBank recently invested in clean energy career preparation courses and skilled trade programs to help youth from diverse backgrounds thrive in emerging industries.

Financially, KeyCorp remains robust with a Common Equity Tier 1 ratio of 10.3% as of the first quarter of 2024. Despite challenges such as higher interest rates impacting net interest income and margin, the company continues to show resilience with steady customer deposits and low nonperforming loan ratios. The company declared a dividend of $0.205 per common share for the first quarter, reflecting its strong capital position.

For more information about KeyCorp's services, financial performance, and community initiatives, visit their official website at https://www.key.com.

News

KeyBank Teammates Discuss Best Practices for Homebuying and Programs to Help Make Home Ownership Easier

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KeyBank's community investments in Northeast Ohio in 2023 were highlighted in a recent appearance on 'New Day Cleveland' on WJW-TV. The bank supported 12 non-profit organizations with grants totaling over $6 million to further their missions in workforce development, education, and diversity, equity, and inclusion initiatives. This reflects KeyBank's commitment to helping clients, communities, and organizations thrive.
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KeyBank and The Hometown Foundation in Connecticut Join Forces To Sponsor New Hamden Police K-9 Officer Jet

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KeyBank's Hamden, Connecticut branch recently hosted a Meet & Greet event to introduce the public to the newest K-9 patrol dog, Jet, sponsored by Hometown Foundation and KeyBank. The event was attended by local officials and members of the police department, emphasizing the bank's commitment to the community. KeyBank has underwritten $5,000 of the $15,000 sponsorship cost, showcasing its dedication to being a good neighbor and caring corporate citizen.
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Akron Children's Foundation Receives $750,000 Grant From KeyBank To Support Hospital's Workforce Development Program

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KeyBank and the KeyBank Foundation have invested $750,000 in the Akron Children's Foundation to support its Career Launch Program, which aims to remove barriers for individuals interested in pursuing careers in the medical field. The program provides workforce development opportunities for employees and community members, allowing them to continue working while attending college courses. Participants receive support for tuition, uniforms, books, supplies, equipment, transportation, and childcare. Additionally, each participant is paired with a mentor and is guaranteed job placement at Akron Children's upon graduation. KeyBank's investment reflects their commitment to building a diverse workforce in the medical field and supporting community members in achieving career success.
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KeyBank Invests $150,000 in Center for the Homeless To Support New Next Program

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KeyBank and the KeyBank Foundation announced a $150,000 investment in South Bend's Center for the Homeless to support the brand new NEXT (Neighbors Excelling as Tenants) Program. The program aims to educate and prepare individuals living at the center for moving out or transitioning into housing, with a focus on creating good tenant practices for the community. KeyBank's Northern Indiana Market President, Bhumika Norris, expressed excitement to support the Center for the Homeless and its mission to promote safe, quality, and affordable housing. The investment is expected to impact the lives of many individuals and families served by the Center, which has been a beacon of hope for over 65,000 people in the South Bend area.
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KeyBank Invests More than $1.1 million to Support Several Non-Profit Organizations in the Capital Region

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KeyBank Foundation invested $1,120,000 in non-profit organizations in the Capital Region in 2023 to support workforce development and community initiatives. This is part of KeyBank's commitment to invest $40 billion in the communities it serves. The grants aim to support diversity, equity, and inclusion efforts. KeyBank has a tradition of supporting the community, and the investments are intended to strengthen neighborhoods. The funding includes support for organizations such as Trinity Alliance, Albany Black Chamber of Commerce, Affordable Housing Partnership, Albany Can Code, Albany College of Pharmacy and Health Sciences, and many others. KeyBank has a track record of community commitments totaling more than $1 billion in the Capital Region since 2017, supporting affordable housing, community development projects, small business and home lending, and transformative philanthropy.
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Avesta Housing Receives $400,000 Grant Commitment From KeyBank Foundation

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Avesta Housing receives a $400,000 grant from KeyBank Foundation to enhance services for residents in affordable housing properties. The funding will expand staffing capacity to provide access to healthcare programs, education, employment opportunities, job training, and more. Avesta's mission is to improve lives and strengthen communities by providing affordable quality homes for people in need. KeyBank's Maine Market President, Tony DiSotto, emphasizes the importance of everyone having safe and affordable housing.
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Junior Achievement of Oregon and SW Washington Receives $225,000 From KeyBank

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Junior Achievement of Oregon and SW Washington has received a $225,000 grant from KeyBank to expand its JA BizTown and JA Finance Park simulations. The funds will support upgrades to its S.E. Portland facilities and a major initiative to serve more Oregon and Washington youth. These programs provide a proven model for economic empowerment and project-based learning.
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KeyBank Provides $34.3 Million of Financing for the Rehabilitation of Six Affordable Housing Properties in Chicago

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KeyBank Community Development Lending and Investment (CDLI) provided $34.3 million in construction and permanent financing through the HUD 221(d)(4) Mortgage Insurance program for the substantial rehabilitation of six low-income apartment buildings in the South Shore of Chicago. The project includes 151 units for elderly and disabled residents subsidized under a project-based Section 8 contract, as well as 126 units for families. Evergreen Real Estate Group is the sponsor, and the properties are owned by a LIHTC partnership created by the Housing and Human Development Corporation (HHDC), a non-profit public housing facility in Chicago. The project also received LIHTC and tax-exempt bond allocations from Illinois Housing Development Authority (IHDA). KeyBanc Capital Markets served as the sole manager and underwriter for the $55.1 million bonds. The funds will be used for various improvements to the apartments, and HHDC will provide on-site social service coordinators to connect residents to community-based social service providers and government services.
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KEYBANK PARTNERS WITH COMMUNITY LENDING INSTITUTIONS TO PROVIDE $50 MILLION IN ACCESS TO CAPITAL

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KeyBank (KEY) announced the placement of $50 million in deposits with six Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), including Black-owned banks and banks serving Alaskan Native and Native American communities. This initiative is part of KeyBank's commitment to social justice and racial equity, supporting historically under-resourced communities. KeyBank's ongoing support for CDFIs and MDIs is a testament to its dedication to economic inclusion and community development.
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KeyBank Community Development Lending and Investment Provides $400 million in Financing for the $101 Million Renovation of Affordable Seniors Housing in Rochester, N.Y.

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KeyBank Community Development Lending and Investment (CDLI) and Urban Investment Group (UIG) within Goldman Sachs Asset Management invested $135.6 million of 4% Federal LIHTC Equity and provided a $200 million construction loan for the planned renovation of Andrews Terrace in Rochester, New York. Additionally, KeyBank Commercial Mortgage Group closed $73.1 million Fannie MTEB and KeyBanc Capital Markets underwrote $163 million of tax-exempt bonds for this project. Conifer Realty, LLC and Community Preservation Partners are partnering to revitalize this iconic 526-apartment building complex, providing housing for low-income seniors and disabled residents. The $335 million project will preserve affordable housing, provide extensive renovations, and improve the community infrastructure in downtown Rochester.
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FAQ

What is the current stock price of KeyCorp (KEY)?

The current stock price of KeyCorp (KEY) is $19 as of November 19, 2024.

What is the market cap of KeyCorp (KEY)?

The market cap of KeyCorp (KEY) is approximately 19.0B.

What services does KeyCorp offer?

KeyCorp provides a range of financial services including deposit, lending, cash management, investment services, and sophisticated corporate and investment banking products.

Where is KeyCorp headquartered?

KeyCorp is headquartered in Cleveland, Ohio.

How many branches and ATMs does KeyCorp operate?

KeyCorp operates approximately 1,000 branches and 1,200 ATMs across 15 states.

What is KeyCorp's asset size?

As of March 31, 2024, KeyCorp has assets of approximately $187 billion.

What recent mortgage product did KeyCorp introduce?

KeyCorp recently introduced Freddie Mac's Home Possible® mortgage loan to offer more options and credit flexibilities for eligible individuals.

Who are Key Wealth's target clients?

Key Wealth targets high net worth (HNW) and ultra-high net worth (UHNW) clients.

What are some of KeyCorp's community initiatives?

KeyCorp invests in affordable housing, small business support, and educational programs, including clean energy career preparation and skilled trade programs for youth.

What is KeyCorp's Common Equity Tier 1 ratio?

KeyCorp's Common Equity Tier 1 ratio was 10.3% as of the first quarter of 2024.

How can I get more information on KeyCorp?

For more information, visit KeyCorp's official website at https://www.key.com.

What dividend did KeyCorp declare for the first quarter of 2024?

KeyCorp declared a dividend of $0.205 per common share for the first quarter of 2024.

Stock KEY logo
KeyCorp

NYSE:KEY

KEY Rankings

#571 Ranked by Market Cap
#679 Ranked by Dividends

KEY Stock Data

19.00B
987.28M
0.34%
82.85%
1.77%
Banks - Regional
National Commercial Banks
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United States of America
CLEVELAND