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's Key4Women program, in collaboration with SCORE Cleveland, has selected 10 finalists for a business pitch contest aimed at women-owned businesses in Northeast Ohio. Out of 243 applicants, finalists will compete for cash awards totaling $22,000, with a grand prize of $10,000. The pitch contest will take place on October 7, 2021, at Cuyahoga Community College. Key4Women has provided over $12 billion in loans to women-owned businesses since its inception, underscoring its commitment to empower female entrepreneurs.
KeyCorp (NYSE: KEY) will present at the Barclays Global Financial Services Conference on September 13, 2021, at 12:00 p.m. ET. Chairman and CEO Chris Gorman, along with Vice Chairman and CFO Don Kimble, will discuss the company’s performance, strategy, and outlook. The live audio webcast and presentation materials will be accessible at www.key.com/ir. Founded in Albany, New York, and headquartered in Cleveland, Ohio, KeyCorp has approximately $181.1 billion in assets as of June 30, 2021, and operates over 1,000 branches across 15 states.
KeyCorp (NYSE: KEY) will announce its third quarter 2021 earnings on October 21, 2021, before market opening. A conference call will follow at 10:00 a.m. ET to discuss financial results, strategies, and future outlook. KeyCorp, headquartered in Cleveland, Ohio, is a leading bank-based financial services company with assets of approximately $181.1 billion as of June 30, 2021. It operates over 1,000 branches and provides a range of banking and investment services in 15 states.
KeyCorp reported net income of $698 million for Q2 2021, a 18.1% increase from Q1 2021 and a staggering 339.0% year-over-year rise. Earnings per diluted share rose to $0.72, compared to $0.61 in Q1 2021. Record revenues of $1.773 billion were driven by strong performance in commercial and consumer sectors, alongside an 8% year-over-year rise in noninterest income. Credit quality improved with lower nonperforming loans, while a new $1.5 billion share repurchase program and a potential dividend increase were announced. Key retains a robust capital position with a Common Equity Tier 1 ratio of 9.9%.
KeyBank has announced an expansion of its branding agreement with Cardtronics, the largest ATM operator, at Kum & Go locations in Colorado. This initiative will double KeyBank’s surcharge-free ATM access points, enhancing its brand visibility in a rapidly growing market. With $7 billion in deposits, KeyBank holds a significant market share in Colorado. The partnership aims to offer convenient banking access, which is expected to improve customer engagement and satisfaction.
KeyBank has expanded its branding partnership with Cardtronics, enhancing ATM accessibility across Central Indiana. This collaboration will double KeyBank's surcharge-free ATMs in the state, where it has 38 branches. The initiative aims to improve brand visibility and customer engagement, emphasizing convenience in banking access. KeyBank holds a significant market share with $4.9 billion in deposits as of June 2020. According to KeyBank executives, this expansion reflects a commitment to providing accessible banking solutions to the community.
KeyCorp (NYSE: KEY) announced a cash dividend of $0.185 per share on common shares, payable on September 15, 2021, to shareholders on record as of August 31, 2021. Additional dividends include $312.50 per share on Series D Preferred Stock, $15.3125 on Series E, $14.1250 on Series F, and $14.0625 on Series G, also payable on September 15, 2021. This demonstrates the company’s commitment to returning value to its shareholders amidst its operations across 15 states.
KeyCorp (NYSE: KEY) will host an investor meeting on March 1, 2022, at 8:30 a.m. ET in New York City. CEO Chris Gorman and senior leadership will discuss the company's strategy, performance, and outlook. Attendance is by invitation for institutional investors and analysts. Those unable to attend can access a live audio webcast and presentation materials at www.key.com/ir. KeyCorp, headquartered in Cleveland, Ohio, has approximately $176.2 billion in assets and provides financial services across 15 states.
KeyBank announced its record graduation of 4,513 clients from the Secured Credit Card program in May 2021, doubling last year's figures. This initiative aims to assist clients in building or rebuilding their credit scores, especially for the 2,974 clients who initially had no FICO score. Clients improved their scores by an average of 78 points in six months. KeyBank plans to enhance access with a digital application process, emphasizing their commitment to financial wellness for communities affected by the pandemic.
KeyCorp (NYSE:KEY) has announced the appointment of James L. Waters as General Counsel and Corporate Secretary, effective July 6, 2021. Waters, with over 20 years of experience in corporate law focused on finance, previously served as General Counsel at Cullen/Frost Bankers, Inc., and as a partner at Haynes and Boone, LLP. His expertise in legal matters is expected to support Key's growth strategy, as highlighted by Chris Gorman, Chairman and CEO. KeyCorp, headquartered in Cleveland, has approximately $176.2 billion in assets as of March 31, 2021.
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?
