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) generates a steady flow of news as one of the nation’s larger bank-based financial services companies. Headquartered in Cleveland, Ohio, the company highlights a 200-year history that it marked with a bicentennial in 2025, and its announcements reflect both its consumer and commercial banking activities as well as its capital markets capabilities.
News related to KeyCorp often covers interest rate and funding actions, such as changes to the prime lending rate by KeyCorp and its banking affiliates or the redemption of senior bank notes issued by KeyBank National Association. These items provide insight into how the organization manages its balance sheet, funding costs, and lending benchmarks.
Investors and analysts can also expect earnings and financial performance updates, including quarterly net income, revenue composition, net interest margin, deposit trends, loan balances, and asset quality metrics. These releases typically discuss both net interest income and noninterest income components such as trust and investment services, investment banking and debt placement fees, cards and payments income, and service charges on deposit accounts.
Another frequent category of news involves corporate and investment banking activity under the KeyBanc Capital Markets name. Announcements may describe financing facilities, credit arrangements, or advisory roles for clients such as energy storage developers or other companies in selected industries, illustrating how KeyCorp participates in capital markets transactions for middle market clients.
KeyCorp also issues releases about dividend declarations on its common shares and various series of preferred stock, as well as communications around investor presentations at financial services conferences. For users following KEY news, this page offers a centralized view of these developments, helping track how the company’s banking operations, capital markets activities, and capital management decisions evolve over time.
KeyBank and the KeyBank Foundation have invested $300,000 in Cincinnati's Minority Business Accelerator (Accelerator) to support high-potential minority-owned businesses. The three-year grant aims to provide intensive services to a minimum of 25 businesses annually, totaling 75 over the grant period. The Accelerator will offer comprehensive support including strategy development, capital access, technical assistance, client opportunities, and marketing support.
The Accelerator, founded 20 years ago, has a proven track record of success. Minority Business Enterprises (MBEs) working with the Accelerator have achieved approximately $2 billion in aggregate annual revenues, created over 3,500 sustainable jobs, and averaged double-digit annual growth. This investment aligns with KeyBank's commitment to empowering local organizations and supporting long-term success for minority-owned businesses.
KeyBank has surpassed $1 million in Neighbors First Credits, helping 200 clients achieve homeownership. This Special Purpose Credit Program provides $5,000 toward closing costs and other pre-paid fees for eligible properties. KeyBank's efforts are making homeownership more attainable, especially as their 2024 Financial Mobility Survey found 69% of non-homeowners believe owning a home is not very achievable.
The bank has made significant impacts in various communities, including Cleveland (47 credits, $235,000) and Columbus (25 credits, $125,000). KeyBank also offers two other special purpose credit programs: the Homebuyer Credit (over $2.4 million funded, helping 533 clients) and the Key Opportunities Home Equity Loan ($13 million funded, assisting 259 clients).
These initiatives align with KeyBank's purpose of helping communities thrive by making homeownership more affordable, accessible, and sustainable.
KeyBank's semi-annual Middle Market Sentiment Report reveals a surge in optimism among middle market businesses, with 78% reporting an excellent/very good outlook for the next 12 months. The survey of over 700 companies with $10M to $1B in annual revenue shows:
- 50% have a positive U.S. economic outlook
- 90% anticipate M&A involvement on the buy-side in the next two years
- 54% plan to implement AI in the next six months
Despite challenges like inflation (34%), higher labor costs (30%), and interest rates (29%), businesses are leveraging technology and automation for growth. However, 87% plan to tap alternative capital sources due to tight access. Cybersecurity remains a concern, with 32% experiencing issues in the past year.
KeyCorp (NYSE: KEY) and its banking affiliates have announced a reduction in their prime lending rate from 8.50% to 8.00%, effective September 19, 2024. This decision reflects changes in the financial market and could impact various lending products tied to the prime rate. KeyCorp, headquartered in Cleveland, Ohio, is a major bank-based financial services company with assets of approximately $187 billion as of June 30, 2024. The company operates under the name KeyBank National Association, serving individuals and businesses across 15 states through a network of about 1,000 branches and 1,200 ATMs. KeyCorp also offers corporate and investment banking services under the KeyBanc Capital Markets brand.
Neighborhood Health Clinic in Naples, FL received a $20,000 charitable grant from KeyBank Foundation and Key Private Bank to support its dental program. The grant will fund the purchase of dental tools, equipment, and supplies, as well as training for volunteer hygienists and dental assistants. It aims to improve the overall health of Collier County's uninsured workers through the clinic's "Promoting Wellness through Positive Impact on Overall Dental Health and Education for the Underserved" program.
The clinic's Dental Suite, opened in 2019, features four dental operatories, a dental lab, and a classroom for patient education. In 2023, the clinic provided over 12,000 patient visits and 30,000 patient procedures. KeyBank's grant is part of a $40 billion commitment established in 2017 to support community development projects and philanthropic efforts across its national footprint.
KeyBank's Fall 2024 Small Business Flash Poll reveals 61% of small business owners plan to delay major decisions until after the election. Despite concerns about potential policy changes, particularly in taxation (45%), regulation (34%), and trade (31%), business owners remain resilient. They're adapting by increasing cash reserves (38%), delaying investments (36%), and diversifying offerings (31%).
The survey highlights challenges from high interest rates, including reduced profit margins and increased borrowing costs. However, 72% of owners are confident in funding monthly operations, up from 64% in March. Fraud prevention remains a priority, with payment fraud (49%) and identity theft (29%) as top concerns.
Women business owners show more uncertainty but are taking proactive measures like adjusting pricing strategies. Despite challenges, 75% of small business owners don't foresee hiring cuts, with 32% expecting to grow their staff in the next year.
KeyBanc Capital Markets (KBCM), the investment banking arm of KeyCorp (NYSE:KEY), announced that Julie Andress, Managing Director, has been appointed as the 2025 Board Chair for the Security Traders Association (STA). Andress, with over a decade of experience at KBCM, has served on the STA board for six years and previously held positions as STA Board Vice Chair and Women in Finance Co-Chair.
The STA, founded in 1934, is a grassroots organization educating members on market structure issues and representing their interests with legislators, regulators, and industry associations. It comprises more than 20 affiliates in the U.S. and Canada, representing individuals in the financial services industry across various business models.
KBCM, with over 800 professionals and more than $50 billion of capital committed to clients, provides capital markets and advisory solutions to companies across multiple industries. KeyCorp, KBCM's parent company, is a major bank-based financial services company with assets of $187 billion as of June 30, 2024.
KeyBank's Key4Women is hosting a free virtual webinar on September 25, 2024, titled 'Emotional Intelligence in Diverse Business Environments'. The one-hour event features Rachael Sampson, Key4Women's National Director, in conversation with Natasha Tous, a Certified Executive Coach. The webinar aims to address the critical role of emotional intelligence (EI) and cultural empathy in business success.
Participants will learn how to develop EI and cultural empathy to improve communication, foster inclusivity, and drive business growth. The event will also cover navigating cultural differences and building stronger relationships. Key4Women, launched in 2005, has generated over $12 billion in loans to women-owned businesses and offers free membership with access to Certified Key4Women Advisors.
KeyBank Foundation is investing $250,000 in the United Way of Central New York's Thrive at Work Program. This innovative initiative aims to help employed individuals facing financial challenges due to access to resources and support. The program will offer financial education, low-interest loans, one-on-one coaching, and free tax preparation services to employees in entry-level or lower-income positions at small to mid-sized companies in Central New York.
The program targets Asset , Income Constrained, Employed (ALICE) individuals, who represent 25% of Onondaga County households. Expected outcomes include improvements in financial literacy, credit scores, debt reduction, and savings. Since 2017, KeyBank has invested over $700 million in Syracuse and Central New York, supporting various community development projects.
KeyBank and the KeyBank Foundation have announced a $480,000 investment in Central State University (CSU), Ohio's only public Historically Black College and University (HBCU). The funds will establish the KeyBank Scholars (KBS) Program, providing tuition support for 40 students over five years. The program includes a five-week summer bridge program and $2,000 annual scholarships for four years. Students must maintain a 3.0 GPA to receive the awards.
The KBS Program aims to enhance student experience and promote long-term success. Previous CSU summer bridge programs have shown promising results, with 83% of participants on track to graduate on time and an average GPA of 3.15. This investment aligns with KeyBank's commitment to supporting local students and communities, as well as CSU's mission to foster academic excellence and prepare diverse students for leadership roles.