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.
KeyCorp (NYSE: KEY) announced that its Chairman and CEO, Chris Gorman, will present at the Bernstein Annual Strategic Decisions Conference on May 29, 2024, at 4:30 p.m. ET in New York City.
The presentation will cover KeyCorp's performance, strategy, and future outlook. A live audio webcast will be available on KeyCorp's investor relations website. Replays will also be accessible.
KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with assets of approximately $187 billion as of March 31, 2024. It offers a range of financial services through its KeyBank National Association and KeyBanc Capital Markets.
KeyBank Foundation has announced a $300,000 investment to support the Greater Rochester Habitat for Humanity (GRHFH) in expanding its Habitat Homebuyer Program. This initiative aims to make homeownership more accessible and sustainable by doubling GRHFH's impact, providing financial literacy training, and partnering with for-profit builders and designers. The funds are expected to benefit an additional 50 families over the next two years, impacting approximately 150 individuals. Since 2017, KeyBank has invested over $727 million in the Rochester market to support affordable housing and community development.
Small business owners are looking to banks for strategic advice amid economic uncertainty. KeyBank's 2024 Small Business Survey reveals that top recommendations include reducing discretionary spending (34%), creating an emergency fund (22%), and diversifying revenue streams (20%). With 52% of owners confident that banks understand their cash flow concerns, KeyBank stands out by offering over $4.5 billion in small business loans and lines of credit. The bank also received its 11th consecutive 'Outstanding' rating from the OCC for its Community Reinvestment Act efforts. In 2023, KeyBank lent $267.7 million to low-to-moderate-income communities and processed $11.2 billion in Paycheck Protection Program loans over 2020-2021.
KeyBank has released its 2023 Corporate Responsibility Report, detailing its impact on community and sustainability efforts. Key highlights include serving over 540 clients with special purpose credit programs, providing $1.8 million in homebuyer grants, and $8.8 million in home equity loans. The bank launched Immediate FundsSM for instant check deposit access and revamped its fee structure for client convenience. Employees volunteered over 77,000 hours, and the bank promoted 22.8% of its workforce. KeyBank delivered $5.5 billion in capital for affordable housing and community support, invested $39.8 million philanthropically, and exceeded supplier diversity goals with a 13% spend on diverse suppliers. Environmentally, the bank allocated nearly $5 billion for a low-carbon economy, achieved a 40% reduction in Scope 1 and 2 emissions, and joined the Partnership for Carbon Accounting Financials.
KeyBank Foundation has announced a $1 million investment to support Say Yes Cleveland, which offers tuition scholarships to eligible students in Cleveland. This grant is part of KeyBank's $40 billion community investment initiative and $11 million commitment to Say Yes. Since its inception in January 2019, Say Yes Cleveland has provided scholarships to over 3,000 students, paid out nearly $9 million in tuition, and raised more than $100 million locally. The initiative, aimed at enhancing educational opportunities, addresses postsecondary affordability and supports students until at least 2044. It aims to close socioeconomic disparities, increase college enrollment, and foster a skilled workforce, thereby boosting Cleveland's economic potential.
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.