Keycorp Stock Price, News & Analysis

KeyBank celebrates its 200-year anniversary with the grand opening of its Heritage Center in Cleveland. Located in Key Tower's Public Square branch, this state-of-the-art museum features interactive exhibits and artifacts dating back to the bank's 1825 founding in Albany, New York.

The center, which will remain open permanently beyond 2025, received endorsements from Ohio Governor Mike DeWine, Cleveland Mayor Justin M. Bibb, and Cuyahoga County Executive Chris Ronayne. Mayor Bibb declared April 12, 2025, as "KeyBank Heritage Day" in Cleveland.

As one of the nation's largest bank-based financial services companies, KeyBank manages assets of approximately $189 billion and operates across 15 states. The bank maintains approximately 1,000 branches, 1,200 ATMs, and employs 17,000 teammates serving clients from Maine to Alaska.

KeyCorp (NYSE: KEY) reported strong Q1 2025 financial results with net income of $370 million, or $0.33 per diluted share, marking significant improvement from Q1 2024's $183 million. Revenue reached $1.8 billion, up 16% year-over-year, while expenses decreased 1%.

Key performance highlights include: net interest income up 4% quarter-over-quarter, net interest margin increased to 2.58%, and improved credit metrics with nonperforming assets declining 9%. The bank maintained a strong capital position with Common Equity Tier 1 ratio of 11.8%, up approximately 150 basis points year-over-year.

Commercial loans grew $1.2 billion from year-end, while client deposits increased 4% year-over-year. The bank's credit quality remained robust, with credit migration trends improving for the fifth consecutive quarter. The provision for credit losses was $118 million, with net loan charge-offs at $110 million or 0.43% of average total loans.

KeyBank (NYSE: KEY) has announced a special grant program through its Foundation to strengthen Community Development Financial Institutions (CDFIs) as part of its bicentennial celebration. The program will award $200,000 grants to one exemplary CDFI in each of KeyBank's 27 markets.

The initiative aims to provide flexible funding to help CDFIs expand services, enhance infrastructure, and deepen community impact in affordable housing and small business development. Eligible applicants must be certified CDFIs operating in KeyBank primary markets with a strong track record in advancing affordable housing or small business development.

Applications are due by May 16, 2025. KeyBank reported assets of approximately $187 billion as of December 31, 2024, operating across 15 states with approximately 1,000 branches and 1,200 ATMs.

KeyBank's 2025 Financial Mobility Survey reveals concerning trends in homeownership accessibility, with 46% of non-homeowners viewing homeownership as unattainable, up from 39% last year. Despite these challenges, the survey highlights positive pathways through financial education and guidance.

Key findings show that 47% of younger individuals without mortgages are reducing spending to save for homes, though 60% remain skeptical about future homeownership. However, among recent homebuyers, 30% credit meetings with mortgage loan officers for influencing their purchase decision, up from 19% previously.

The survey, conducted in September 2024 with 1,000 Americans, emphasizes that financial education and planning tools can boost homebuyer confidence. Specifically, 48% of potential buyers and 45% of renters said budgeting education for down payments and closing costs would increase their confidence. Recent homebuyers also showed the highest confidence in financial emergencies and positive economic outlook.

KeyBank (NYSE: KEY) has been awarded twelve 2025 Coalition Greenwich Best Bank Awards for its excellence in middle market and small business banking services. The bank received nine awards in middle market banking, highlighting its success in areas such as ease of doing business, long-term relationships, trust, and customer service.

The recognition includes specific awards for relationship manager satisfaction in the Northeast and West regions. Additionally, KeyBank secured three awards in small business banking, particularly for relationship manager satisfaction and advisory capabilities.

These achievements are based on extensive market research, including over 13,000 interviews with small businesses ($1-10 million in sales) and nearly 12,000 interviews with middle market businesses ($10-500 million in sales). As of December 31, 2024, KeyBank manages approximately $187 billion in assets and operates across 15 states with about 1,000 branches and 1,200 ATMs.

Liquidity, a global asset manager specializing in growth-stage private credit, has secured a structured credit facility of up to $450 million, anchored by KeyBank (NYSE: KEY). The initial commitment from KeyBank is $75 million, expected to scale to $250 million, supporting Liquidity's expansion in the US market.

The facility will be used to originate credit deals with growth and late-stage technology companies through Liquidity's proprietary AI-enabled investing platform. This marks Liquidity's first partnership with a US-based bank, following their growth in EMEA, APAC, and MENA regions. The firm boasts an industry-leading 0% loss rate and provides credit ranging from $10 million to $150 million to growth stage tech companies globally.

KeyCorp (NYSE: KEY) has announced a significant $1.0 billion share repurchase program authorized by its Board of Directors. The program, set to commence in the second half of 2025, will allow KeyCorp to purchase shares through open market or private transactions.

The timing, price, and volume of repurchases will be determined based on various factors, including market conditions, stock price, regulatory requirements, corporate liquidity needs, and other priorities. The company, celebrating its bicentennial in 2025, currently maintains assets of approximately $187 billion as of December 31, 2024, with operations spanning 15 states through approximately 1,000 branches and 1,200 ATMs.

Key Wealth, KeyBank's wealth management division (NYSE:KEY), has expanded its strategic partnership with Envestnet to enhance its wealth management platform capabilities. The collaboration aims to provide Key Wealth advisors with comprehensive access to Envestnet's technology and data-driven solutions.

The enhanced platform will deliver:

• Digital client experience with improved advisor-client collaboration
• Integrated financial planning tools for tailored strategies
• Advanced portfolio management and analytics including risk analysis and AI-driven insights

Key Wealth, managing approximately $61 billion in assets as of December 31, 2024, will leverage Envestnet's ecosystem to streamline advisor workflows and deliver personalized client experiences. Envestnet currently serves over 111,000 advisors with more than $6.5 trillion in platform assets as of September 30, 2024.

KeyCorp (NYSE: KEY) has announced its participation in the 2025 RBC Capital Markets Global Financial Institutions Conference, scheduled for March 4, 2025, at 11:20 a.m. ET in New York City. Chief Financial Officer Clark Khayat will represent the company, discussing performance, strategy, and outlook.

The presentation will be accessible via live audio webcast on www.key.com/ir. The year 2025 marks KeyCorp's bicentennial, celebrating 200 years of service across regions from Maine to Alaska. As of December 31, 2024, KeyCorp reported assets of approximately $187 billion.

KeyCorp operates through KeyBank National Association with:

• Approximately 1,000 branches
• 1,200 ATMs across 15 states
• Services including deposits, lending, cash management, and investments
• Corporate and investment banking through KeyBanc Capital Markets