Keycorp Stock Price, News & Analysis

KeyCorp reported a net income of $513 million for Q3 2022, translating to $0.55 per diluted share, a slight rise from the previous quarter but a decline from a year ago. Revenue increased 5% quarter-over-quarter to $1.886 billion, driven by loan growth in commercial and consumer sectors. Credit quality remains strong, with net charge-offs at low levels. However, noninterest income dropped 14.3% year-over-year, primarily due to declines in investment banking and consumer mortgage income. The Common Equity Tier 1 ratio stood at 9.1%.

KeyBank introduces Key Coverage Zone to help clients avoid overdraft fees for amounts of $20 or less. Effective September 16, 2022, the changes also eliminate non-sufficient funds fees and lower overdraft fees to $20. Overdraft transactions are capped at three daily, and transfers from eligible credit products now incur no fees. These updates reflect KeyBank's commitment to enhancing customer experience and financial flexibility.

KeyCorp (NYSE: KEY) has canceled its presentation and webcast at the Barclays Global Financial Services Conference scheduled for September 12, 2022, at 2:00 PM ET, due to illness related to COVID-19. Additionally, all associated in-person investor meetings are also canceled. KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with assets of approximately $187.0 billion as of June 30, 2022. The company serves customers in 15 states through KeyBank National Association.

Key Family Wealth, part of Key Private Bank, has been awarded the 2022 Wealth Management "Family Office" Industry Award for Best Thought Leadership. Recognized for its Business Advisory Services, Key Family Wealth has successfully assisted numerous privately-held business owners in transitions over the years. This award is part of a record-breaking selection process with over 1,000 entries evaluated by industry experts. Key Family Wealth manages over $16.8 billion in assets and focuses on delivering tailored investment and estate strategies to ultra-high net worth families.

KeyCorp (NYSE: KEY) will present at the Barclays Global Financial Services Conference on September 12, 2022, at 2:00 p.m. ET. The presentation will be led by Chris Gorman, CEO, and Don Kimble, CFO, who will discuss the company's performance, strategy, and outlook. Interested parties can access the live webcast and materials at www.key.com/ir. KeyCorp is one of the largest bank-based financial services companies in the U.S., with assets of approximately $187.0 billion as of June 30, 2022, serving clients through around 1,000 branches and 1,300 ATMs nationwide.

KeyCorp (NYSE: KEY) announced its schedule for upcoming quarterly earnings conference calls. The calls will be held on:

• Fourth quarter 2022: January 19, 2023, at 10:00 AM ET
• First quarter 2023: April 20, 2023, at 10:00 AM ET
• Second quarter 2023: July 20, 2023, at 10:00 AM ET
• Third quarter 2023: October 19, 2023, at 10:00 AM ET

Financial results will be released before market open on these dates. Webcast and dial-in details will be shared later.

KeyCorp (NYSE: KEY) has announced an increase in its prime lending rate from 4.75% to 5.5%, effective July 28, 2022. This decision reflects current economic conditions and aims to align with market trends. Headquartered in Cleveland, Ohio, KeyCorp is a significant player in the banking sector, with approximately $187 billion in assets as of June 30, 2022. The bank provides various financial services across 15 states with a network of around 1,000 branches.