Keycorp Stock Price, News & Analysis

KeyBank's 2024 Small Business Survey highlights the challenges small businesses face amid inflation and economic uncertainty. The survey reveals 37% of owners expect a slight increase in operating costs, while 27% foresee a significant rise. Key challenges include fluctuating revenue (35%), delayed payments (29%), and high overhead costs (28%). Despite these concerns, 65% of small business owners feel confident in funding one month of expenses from cash reserves.

KeyBank, recognized as a top SBA lender, has provided over $4.5 billion in small business loans and lines of credit. In 2023, it allocated $267.7 million to low-to-moderate income communities. KeyBank also processed $11.2 billion in loans through the Paycheck Protection Program in 2020 and 2021. The bank continues to support small businesses with resources like the KeyBank Small Business Check-In and the Business Cash Flow Calculator.

Key4Women, a division of KeyBank, is hosting a free webinar titled 'Play You: The Role of a Lifetime' to celebrate National Small Business Month. The event features discussions on authentic leadership, success visualization, stepping out of comfort zones, and igniting missions to increase presence and confidence. The webinar will be led by KeyBank's Rachael Sampson and actor/leader Pam Sherman.

KeyBank has entered a new multiyear partnership with the Portland Timbers and Portland Thorns FC, acquiring naming rights to the Providence Park northeast entrance, now known as the 'KeyBank Community Plaza'. The plaza will showcase local nonprofits and small businesses on match days, providing exposure and support to these organizations. KeyBank's collaboration with the Timbers and Thorns aims to benefit the community through various initiatives, emphasizing community engagement and positive impact.

KeyCorp (NYSE: KEY) declared dividends for the second quarter of 2024, including a cash dividend of $0.205 per share on common shares and various dividends on preferred stock. The dividends are payable in June to shareholders of record as of specific dates in May and June.

KeyBank and KeyBank Foundation have granted $300,000 to the Columbus Urban League (CUL) to support the Housing Accelerator Program (HAP) in Central Ohio. HAP aims to tackle housing instability issues by providing wrap-around services for vulnerable residents, assisting with affordable housing, generational wealth, and career services. The investment will help promote safe, quality, and affordable housing, addressing disparities exacerbated by the pandemic. The program targets homeless or at-risk individuals, the unemployed, survivors of domestic violence, justice-involved individuals, and those with low credit scores. CUL will provide housing education and support clients in starting new careers. KeyCorp, with assets of $187 billion, supports individuals and businesses in 15 states. CUL, a 105-year-old organization, advocates for Black and urban communities, promoting wealth, education, and strong families.

KeyBank was honored with the 2024 Leadership in Music Education Award by the Buffalo Philharmonic Orchestra, acknowledging their significant contributions to music education. KeyBank's support has helped develop important music education programs benefiting over 33,000 students annually, fostering creativity, communication skills, and improved classroom performance.

KeyBank has launched KeyVAM, a virtual account management solution powered by Qolo, to streamline cash-flow and account structure for treasury management clients. This technology enables real-time access to KeyBank commercial cash management bank accounts, offering custom virtual account structures, automated reporting, and easy API integration. KeyVAM allows businesses to manage multiple clients or cost centers efficiently, reflecting transactions in real-time, maintaining a virtual sub-ledger, and providing the ability to process real-time payments.

The Urban League of Greater Hartford has been awarded a $150,000 grant from KeyBank Foundation to support the Project Ready program for youth development. The grant will fund new modules in STEAM and Financial Capability to enhance diversity in quantitative fields. KeyBank's donation is the largest annualized gift ever given to the Project Ready program, showcasing a strong commitment to financial education and racial equity. The Urban League of Greater Hartford, founded in 1964, aims to empower youth through education, employment, housing, and justice initiatives.

KeyCorp announced the dates for their quarterly earnings conference calls for 2025. The company, one of the nation's largest bank-based financial services firms, will review financial results on specific dates throughout the year. Key provides a range of services to individuals and businesses and operates in 15 states. The conference calls will be live-streamed on their website, with more details to follow.