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.
KeyBank and KeyBank Foundation announced a $390,000 investment in Dayton's Preschool Promise Inc. to enhance its Promise Scholars program. The funding will cover up to $5,000 in tuition costs per semester for early childhood educators to earn credentials debt-free over the next four years. The program aims to address the early educator workforce crisis and improve classroom instruction quality.
The initiative will implement three key strategies: creating high school pathways to early learning programs, establishing a Registered Apprenticeship program with community colleges, and leveraging government workforce development funding. Additionally, the program will provide computers to students lacking technology access, particularly benefiting first-generation and returning college students.
KeyCorp (NYSE: KEY) has announced a reduction in its prime lending rate from 8.00% to 7.75%, effective November 8, 2024. The company, headquartered in Cleveland, Ohio, manages assets of approximately $190 billion as of September 30, 2024. KeyCorp operates through KeyBank National Association across 15 states with roughly 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services. Additionally, through KeyBanc Capital Markets, the company offers corporate and investment banking products to middle market companies.
KeyCorp (NYSE: KEY) has announced the cancellation of its presentation and webcast at the BancAnalysts Association of Boston Conference, originally scheduled for November 8, 2024, at 10:35 a.m. ET, due to walking pneumonia. The company, with assets of approximately $190 billion as of September 30, 2024, operates through KeyBank National Association across 15 states with around 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services.
KeyBank and KeyBank Foundation announced a $300,000 investment in Ann Arbor's Avalon Housing to enhance supportive services for tenants at risk of housing instability. The funding will support intensive case management services, helping tenants navigate care systems and achieve long-term stability. Avalon Housing, using the Housing First approach, maintains a 95% housing retention success rate. The organization currently manages 29 sites in Ann Arbor, Dexter, and Chelsea, with 150 new units in development. This investment aims to address the increasing homelessness crisis in Washtenaw County while providing residents with access to jobs, education, and healthcare resources.
KeyBank Foundation has awarded a $150,000 Community Impact grant to Springfield Rescue Mission (SRM) to support their Workforce Development Outreach program. The grant, payable over two years, will help match mission residents with potential employers while providing training and support for sustainable employment. The funding will create a new Liaison position to coordinate between employers, employees, and SRM's case management team. The initiative is part of KeyBank's $40 billion commitment established in 2017 for community development, lending, and investments across its national footprint.
KeyBank has awarded a $150,000 grant to Covenant House Alaska (CHA) to fund a pilot prevention program targeting youth in child welfare, foster care, and juvenile justice systems. The initiative aims to provide comprehensive support including safe housing, life skills training, and workforce preparation. As the largest provider for homeless youth in southcentral Alaska, CHA will focus on career exploration, job placement, and ongoing mentorship to help vulnerable youth achieve stability and economic mobility.
New Reach has received a $300,000 Community Impact Grant from KeyBank Foundation to support their FISH food security program in New Haven. The grant, distributed over three years, will help stabilize operations and core expenses for FISH, which delivers groceries to homebound residents. FISH serves over 1,200 residents from more than 800 households monthly. The program merged with New Reach in 2023, benefiting from their infrastructure and support services. New Reach serves over 5,000 adults and children annually through various crisis and housing programs.
KeyCorp (NYSE: KEY) announced its participation in The BancAnalysts Association of Boston Conference, scheduled for November 8, 2024. Ken Gavrity, Head of Commercial Banking, and Clark Khayat, Chief Financial Officer, will present at 10:35 a.m. ET in Boston.
The company, headquartered in Cleveland, Ohio, manages assets of approximately $190 billion as of September 30, 2024. KeyCorp operates through KeyBank National Association across 15 states, maintaining roughly 1,000 branches and 1,200 ATMs. They provide deposit, lending, cash management, and investment services, along with corporate and investment banking products through KeyBanc Capital Markets.
KeyBank's Key4Women hosted its third annual forum in Pittsburgh on October 17th, drawing over 100 attendees to Franklin on Penn. The event, themed 'Perseverance: When Life is 'On the Rocks', featured keynote speaker Maria Costanzo Palmer, author of 'On the Rocks: The Primadonna Story', who shared insights on resilience and success through adversity.
The Key4Women program, launched in 2005, offers customized financial services, exclusive member events, thought leadership content, and support for women organizations. The program provides certified advisors and networking opportunities to foster professional development and create lasting connections among women in business.
KeyBank's Key4Women announces a free virtual webinar titled 'The Ownership Mindset: How to Bounce Back From Anything' scheduled for November 5th, 2024. The event features Kerry Siggins, CEO of StoneAge, who will share insights on leadership transformation and resilience. Under Siggins' leadership, StoneAge has achieved double-digit growth and transitioned to an ESOP structure in 2015. The webinar will address topics including embracing flaws, dealing with imposter syndrome, and implementing ownership mindset. Key4Women, launched in 2005, has provided over $12 billion in loans to women-owned businesses and offers free membership with access to Certified Key4Women Advisors.
FAQ
What is the current stock price of KeyCorp (KEY)?
What is the market cap of KeyCorp (KEY)?
What services does KeyCorp offer?
Where is KeyCorp headquartered?
How many branches and ATMs does KeyCorp operate?
What is KeyCorp's asset size?
What recent mortgage product did KeyCorp introduce?
Who are Key Wealth's target clients?
What are some of KeyCorp's community initiatives?
What is KeyCorp's Common Equity Tier 1 ratio?
How can I get more information on KeyCorp?
What dividend did KeyCorp declare for the first quarter of 2024?
