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.
KeyCorp (NYSE: KEY) will present at the RBC Capital Markets Global Financial Institutions Conference on March 9, 2021, at 10:00 a.m. ET. Chris Gorman, CEO, and Don Kimble, CFO, will discuss the company's performance, strategy, and outlook. A live audio webcast and presentation slides will be accessible on KeyCorp's official website prior to the event. As of December 31, 2020, KeyCorp held approximately $170.3 billion in assets and operates over 1,000 branches in 15 states, offering various financial services.
Key Family Wealth has been honored as the "Best Multi-family Office" in the $10 billion to $20 billion category at the 2021 Private Asset Management (PAM) Awards. This recognition marks the second consecutive year Key Family Wealth has received this prestigious award.
The PAM Awards evaluate firms based on qualitative and quantitative performance indicators, showcasing Key Family Wealth's commitment to exceptional client service and strategic wealth management for ultra-high-net-worth families.
KeyCorp (NYSE: KEY) is set to announce its first quarter 2021 earnings on April 20, 2021, before the market opens. A conference call will follow at 10:00 a.m. ET to discuss financial results, strategy, and outlook. As of December 31, 2020, KeyCorp reported assets of approximately $170.3 billion. The bank operates over 1,000 branches and 1,400 ATMs across 15 states, providing a range of financial services to individuals and businesses. For more information, visit www.key.com.
KeyCorp (NYSE: KEY) reported a net income of $549 million for Q4 2020, marking a 38.3% increase from Q3 2020 and a 25.1% rise from Q4 2019. Earnings per diluted share were $0.56, up from $0.41 in Q3 and $0.45 in Q4 2019. KeyCorp achieved a record revenue of $1.845 billion for the quarter, driven by a 23% increase in fee income, primarily from consumer mortgage and investment banking. The company maintained a strong capital position with a Common Equity Tier 1 ratio of 9.8% and announced a new $900 million share repurchase authorization. The positive credit quality was reflected with net charge-offs at 53 basis points.
KeyCorp (NYSE: KEY) announced its first quarter 2021 cash dividend of $0.185 per share on common shares, payable on March 15, 2021. Record date is March 2, 2021. Preferred stock dividends include $312.50 for Series D, $15.3125 for Series E, $14.1250 for Series F, and $14.0625 for Series G, all payable on March 15, 2021. The record date for preferred stocks is March 1, 2021. The annual shareholder meeting is scheduled for May 13, 2021.
KeyBank has appointed Rachael Sampson as Senior Vice President and Director of Key4Women, aimed at supporting women business owners. With 15 years at KeyBank, Sampson brings significant experience to the role. The Key4Women program, launched in 2005, has facilitated over $12 billion in loans to women-owned businesses. Recent surveys reveal a 22% decline in financial confidence among women entrepreneurs due to the pandemic. KeyBank aims to empower this demographic through resources and networking opportunities, reinforcing its commitment to relationship-driven banking.
KeyCorp (NYSE: KEY) announced that Chairman and CEO Chris Gorman and Vice Chairman and CFO Don Kimble will present at the virtual Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 10:40 a.m. ET. The presentation will cover KeyCorp's performance, strategy, and outlook. Interested parties can access the live audio webcast and presentation materials at www.key.com/ir. KeyCorp, headquartered in Cleveland, Ohio, has assets of approximately $170.5 billion as of September 30, 2020, and serves clients through over 1,000 branches across 15 states.
KeyBank has appointed Eric Fiala as Head of Corporate Responsibility, overseeing community engagement and ESG initiatives. Gwen Robinson has been hired to lead the CRA team, aiming to maintain the bank's 'Outstanding' CRA rating. KeyBank promotes Kawanza Humphrey and Stacy Thompson to regional Corporate Responsibility Managers. The bank has a strong history of responsible banking, recently launching a $16.5 billion Community Benefits Plan. Additionally, it committed $18 million in philanthropic efforts in response to COVID-19, showcasing a commitment to supporting low-income communities.
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