Keycorp Stock Price, News & Analysis

KeyBank has issued its second annual Task Force on Climate-related Financial Disclosures (TCFD) report, highlighting its dedication to combat climate change. The report details updated environmental targets, including achieving carbon neutral operations by 2030 and facilitating $38 billion for climate initiatives by 2026. KeyBank has reported a 31% reduction in greenhouse gas emissions and a 23% decrease in energy consumption since 2016. The establishment of a Climate Oversight Council and notable investments in renewable energy affirm KeyBank's commitment to a low-carbon economy.

KeyBank has announced a donation of $12,500 to The Next Door, a non-profit organization assisting economically vulnerable adults through financial education programs.

This contribution aligns with KeyBank's values of philanthropy and financial wellness, supporting initiatives aimed at promoting financial independence in the community. The Next Door serves over 3,000 community members annually, offering services such as mental health counseling and outreach training. KeyBank's market president emphasized the importance of this partnership in fostering financial confidence within the community.

KeyBank Community Development Lending and Investment provided $49 million in financing for Columbia Residential to construct the Magnolia Family II affordable housing property in Tallahassee, Florida. The financing includes a $33 million construction loan and a $15.9 million permanent loan. The project consists of 160 units, with 128 units designated for low-income residents. Additionally, residents will receive complimentary supportive services, including employment assistance and financial management programs. This development follows Phase I, with completion scheduled for November 1, 2023.

KeyBank has been recognized in the 2023 Corporate Mentoring Honor Roll by Mentor New York, highlighting its commitment to corporate mentoring initiatives. KeyBank actively participates in mentoring through board service and volunteer efforts in various communities. The KeyBank Foundation contributes funding to non-profits supporting mentoring programs for students and workforce development. Notable beneficiaries include City Year Buffalo and Jubilee Homes of Syracuse Inc.. This acknowledgment reinforces KeyBank’s dedication to fostering professional development and community engagement.

KeyBank Foundation has awarded a $30,000 grant to The Immokalee Foundation aimed at supporting its Career Pathways Program, which prepares students for high-demand careers in various fields such as Business Management and Healthcare. With over 31 years of educational service, the Foundation focuses on career readiness for financially disadvantaged students. This grant is part of KeyBank's broader plan to invest over $29 billion in community development and educational initiatives since 2017. KeyBank Foundation allocated $630,000 in grants in 2022 to assist nonprofits in Southern Florida.

KeyCorp (NYSE: KEY) will present at the 2023 RBC Capital Markets Financial Institutions Conference on March 7, 2023, at 2:00 p.m. ET in New York City. Executives Don Kimble, Vice Chairman and CFO, and Clark Khayat, EVP and Chief Strategy Officer, will discuss the company's performance, strategy, and outlook.

KeyCorp, headquartered in Cleveland, Ohio, has assets of approximately $190 billion as of December 31, 2022. The company offers a wide range of financial services through KeyBank National Association, which includes approximately 1,000 branches and 1,300 ATMs across 15 states.

KeyBank has been recognized as one of the Best Banks of 2023 by GoBankingRates. The ranking evaluated 18 banks based on criteria such as total assets, account fees, minimum deposit requirements, and customer service. KeyBank's variety of products, including five checking account options and a Hassle Free checking account, were highlighted for helping reduce fees. The bank emphasizes customer support, offering extended hours and multiple contact methods.