Keycorp Stock Price, News & Analysis

KeyBank has announced surpassing $2 million in funded Home Buyer Credits, aiding 442 clients in achieving homeownership since the program's launch in September 2022. The credit program provides $5,000 towards closing costs and other fees for eligible properties. Additionally, KeyBank has introduced two other credit programs: the KeyBank Neighbors First Credit, offering similar benefits and having helped 169 clients with $845,000 in credits, and the Key Opportunities Home Equity Loan, which has funded $11.7 million for 233 clients since March 2023. These initiatives aim to make homeownership more accessible and sustainable.

Spectrum Youth and Family Services in Burlington, VT, has expanded its seasonal warming shelter into a year-round resource for homeless youth, thanks to generous funding from KeyBank Foundation, the Pomerleau Family Foundation, the University of Vermont Medical Center, and individual donors. The Nightly Shelter, initially open from November to March, now operates every day from 5 pm to 9 am, providing a critical overnight option for youth when other shelters are full. KeyBank Foundation has contributed a three-year $225,000 grant to support this expansion. The facility offers 10 emergency beds and access to daytime services like meals, laundry, and case management. This expansion addresses the rising demand for safe youth shelters in Burlington, with many youths transitioning from the Nightly Shelter to permanent housing solutions.

KeyBank has awarded a $300,000 grant to Jesse Tree to aid low-income families in Treasure Valley facing eviction. The grant aims to enhance Jesse Tree's Emergency Rental Assistance (ERA) program and create a community health resource position. Since its establishment in 1999, Jesse Tree has supported over 8,000 families with $10 million in rental assistance. In 2023 alone, the organization managed 28,000 calls and texts, 3,500 applications, and attended 1,802 eviction hearings. KeyBank's contribution is set to further these efforts, aiming to stabilize housing and provide critical health resources to those in need. This partnership underscores KeyBank's commitment to supporting local communities and preventing homelessness.

On June 6th, the Connecticut Convention Center hosted the 13th Annual Power of the Purse Luncheon and Silent Auction, presented by KeyBank and Key4Women. This event, attended by nearly 1,000 women in business and their allies, aimed to support Women United's mission to enhance financial empowerment for families.

KeyBank has been a presenting sponsor for four years, with leaders Allison Standish-Plimpton and Elona Shape highlighting the resources Key4Women offers to women business owners. Actress Rita Moreno, the keynote speaker, delivered an inspiring message about collaboration and support.

The luncheon raised over $377,000, contributing to a cumulative total of $1.8 million since 2012, which supports financial stability programs for Connecticut families, including employment training, financial coaching, and tax preparation services.

KeyBank's Key4Women program, MESO, and the Portland Thorns FC are hosting their second annual business pitch contest for women-owned businesses in Oregon and SW Washington. The contest offers $50,000 in awards, with a grand prize of $20,000. Eligible businesses must be 51% women-owned and headquartered in specific counties. Applications open on June 3, 2024, and close on July 15, 2024. The finalists, announced in early August, will pitch at a live event on October 10, 2024. Last year's winner, Melody Brown of L&M Hair Company, will serve as a judge. The event aims to support women entrepreneurs through mentorship and capital.

KeyBank will host a Juneteenth Financial Wellness Series in Buffalo, N.Y., as part of its support for the 2024 Juneteenth Festival. The workshops, scheduled from 5:00 p.m. to 7:00 p.m. at the C-District Police Station community room, will cover mortgage (June 6), small business (June 13), and wealth building (June 20). KeyBank emphasizes its commitment to inclusivity, offering mortgage and home equity lending products without regard to race, color, religion, national origin, sex, handicap, or familial status. The bank will also participate in the festival parade on June 15.

Operation HOPE, in partnership with U.S. Bank and KeyBank, introduces 'UPLIFT Denver,' a new initiative to enhance financial literacy and economic empowerment in Denver. Scheduled for June 6, 2024, from 4-6 p.m. at the B.E. Event Center, the event aims to provide free financial education and resources to local residents. Attendees can engage in sessions on topics like credit management, homeownership, and entrepreneurship, and interact with financial coaches and community leaders. KeyBank and U.S. Bank highlight the importance of financial literacy as a cornerstone of economic empowerment. The initiative aims to address wealth disparities and increase access to homeownership and business opportunities for diverse working-class families in Denver.

According to HOPE Research Institute, the initiative has already shown progress with average credit scores for clients increasing by 37 points, a median debt reduction of $2,314, and a median savings increase of $1,128. Nearly 300 attendees are expected.

KeyCorp (NYSE: KEY) announced that its CFO, Clark Khayat, and President of KeyBank Real Estate Capital, Daniel Heberle, will present at the Morgan Stanley US Financials, Payments, & CRE Conference on June 11, 2024, at 3:15 p.m. ET in New York City.

The presentation will cover KeyCorp's performance, strategy, and outlook. The live audio webcast will be available at www.key.com/ir, with replays accessible post-event.

With roots tracing back to Albany, NY, KeyCorp is one of the nation’s largest bank-based financial services companies, managing assets of approximately $187 billion as of March 31, 2024. KeyCorp operates in 15 states with around 1,000 branches and 1,200 ATMs, providing a wide range of financial services under KeyBank and KeyBanc Capital Markets.

KeyBank has announced the appointment of Marissa Brydle as their new Sustainability Director, effective June 4, 2024. Brydle will lead the development and execution of KeyBank's climate strategies and disclosures, aiming to drive the company's climate-related commitments. She will also serve as the primary contact for investors and other stakeholders. Brydle brings 15 years of sustainability strategy and disclosure experience, including her recent role at Cleveland-Cliffs, where she led the corporate sustainability team. Her expertise aligns with KeyBank's goal to transition to a low-carbon economy and enhance their corporate responsibility strategy.

KeyBank's Chief Corporate Responsibility Officer and CEO of KeyBank Foundation, Eric Fiala, expressed confidence in Brydle's ability to advance the bank's sustainability initiatives. Brydle holds bachelor's and master's degrees from John Carroll University and has extensive experience in corporate sustainability and external reporting activities.