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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

Lakeland Community College Sees Success in First Year of 'Begin the Conversation' Initiative Following KeyBank Grant

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Lakeland Community College's Begin the Conversation (BTC) program, supported by The Lakeland Foundation and a $225,000 grant from KeyBank, saw success in its inaugural year, with 11 out of 12 students continuing in the program. The program aims to promote a successful higher education experience for low-income and minority students through tuition, support services, mentoring, and job training at no cost to the students.
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KeyBank Invests in Canton Organizations

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The KeyBank Foundation has awarded Stark State and ArtsInStark with grant funds. Stark State received $35,000 to fund 50 $500 scholarships for students residing in Stark and Summit Counties. KeyBank also awarded ArtsInStark a $25,000 grant to support the proposed Arts Pocket Park.
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KeyBank Provides $11.3 Million of Financing for New Affordable Seniors Housing in Cleveland

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KeyBank Community Development Lending and Investment (CDLI) has provided $11.3 million in tax credit equity to finance the construction of Garrett Square Apartments, a 49-unit affordable seniors housing project in Cleveland, Ohio. The project will also receive a $9 million construction loan and a $2.3 million permanent loan from KeyBank. Additional financing sources include soft loans from the City of Cleveland's American Rescue Plan Act, City Home, and the County ERA fund.
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Albany Black Chamber of Commerce Awarded $200,000 Grant from KeyBank Foundation

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The Albany Black Chamber of Commerce (ABCC) has received a $200,000 grant from the KeyBank Foundation. The grant will support capacity-building initiatives and help ABCC serve its members and the community. ABCC aims to facilitate economic upliftment and empower black and minority-owned businesses in the Greater Capital Region. The funding will be used to expand programming, provide support for operating expenses, and create a hub for business growth and innovation.
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KeyBank Partners With ROC USA(R) To Expand Affordable Housing and Homeownership in Manufactured Home Communities

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KeyBank Foundation has provided a $150,000 grant to ROC USA to expand resident-owned manufactured home communities in Pennsylvania, Utah, and Ohio. ROC USA helps low-income homeowners form cooperatives to acquire their communities, eliminating third-party landlords and providing more secure and affordable living arrangements. The grant will support the scaling of this model to more markets.
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Albany Black Chamber of Commerce Awarded $200,000 Grant from KeyBank Foundation

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The Albany Black Chamber of Commerce (ABCC) has received a $200,000 grant from the KeyBank Foundation. The grant will support capacity-building initiatives and help ABCC serve the Capital Region community. ABCC aims to empower black and minority-owned businesses and achieve greater economic prosperity in the region.
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KeyBank Supports Victims of Maine Shooting

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KeyBank Foundation donates $50,000 to Lewiston-Auburn Area Response Fund to support victims of Maine shooting. They will also provide a 2:1 match for any donations made by KeyBank teammates.
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$400,000 Investment by KeyBank to Help NeighborWorks Western Pennsylvania Expand Efforts to Increase Equity in Homeownership in the Region

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KeyBank is investing $400,000 in NeighborWorks Western Pennsylvania to increase financial stability and homeownership in the region, with a focus on Black individuals and families. The grant is part of KeyBank's commitment to invest $40 billion in the communities it serves. NeighborWorks will provide housing and financial counseling, education, and down payment assistance to prospective buyers. Target outcomes include partnering with 20 nonprofit, development, and business partners, referring 400 homebuyers, holding 550 counseling appointments, educating 250 buyers, and assisting 160 buyers with down payment and closing costs. KeyBank has provided over $577,000 in support to NeighborWorks since 2017 and has made over $496 million in investments in Pittsburgh and Western Pennsylvania.
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KeyBank Foundation provides $100,000 grant to Naples Children & Education Foundation

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Naples Children & Education Foundation (NCEF) has received a $100,000 grant from KeyBank Foundation to support their Out-of-School Time Initiative. The grant will help provide programming to close education gaps and prevent learning loss for children in Immokalee. Over 57,000 students have attended out-of-school programs, with 66% participation from Immokalee elementary school students.
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KeyBanc Capital Markets Appoints Ben Rechkemmer To Lead Native American Financial Services

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KeyBanc Capital Markets Inc. has appointed Ben Rechkemmer as the head of Native American Financial Services (NASF). Rechkemmer, who has 19 years of experience at Key, will be responsible for providing excellent service to Native American tribal clients. Mike Lettig, the current Head of NASF, will retire in November 2023 after a 47-year banking career. Under Lettig's leadership, NASF raised over $15 billion in capital and worked with more than 200 tribes and tribal enterprises.
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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