Keycorp Stock Price, News & Analysis

KeyCorp (NYSE: KEY) will announce its third quarter 2021 earnings on October 21, 2021, before market opening. A conference call will follow at 10:00 a.m. ET to discuss financial results, strategies, and future outlook. KeyCorp, headquartered in Cleveland, Ohio, is a leading bank-based financial services company with assets of approximately $181.1 billion as of June 30, 2021. It operates over 1,000 branches and provides a range of banking and investment services in 15 states.

KeyCorp reported net income of $698 million for Q2 2021, a 18.1% increase from Q1 2021 and a staggering 339.0% year-over-year rise. Earnings per diluted share rose to $0.72, compared to $0.61 in Q1 2021. Record revenues of $1.773 billion were driven by strong performance in commercial and consumer sectors, alongside an 8% year-over-year rise in noninterest income. Credit quality improved with lower nonperforming loans, while a new $1.5 billion share repurchase program and a potential dividend increase were announced. Key retains a robust capital position with a Common Equity Tier 1 ratio of 9.9%.

KeyBank has announced an expansion of its branding agreement with Cardtronics, the largest ATM operator, at Kum & Go locations in Colorado. This initiative will double KeyBank’s surcharge-free ATM access points, enhancing its brand visibility in a rapidly growing market. With $7 billion in deposits, KeyBank holds a significant market share in Colorado. The partnership aims to offer convenient banking access, which is expected to improve customer engagement and satisfaction.

KeyBank has expanded its branding partnership with Cardtronics, enhancing ATM accessibility across Central Indiana. This collaboration will double KeyBank's surcharge-free ATMs in the state, where it has 38 branches. The initiative aims to improve brand visibility and customer engagement, emphasizing convenience in banking access. KeyBank holds a significant market share with $4.9 billion in deposits as of June 2020. According to KeyBank executives, this expansion reflects a commitment to providing accessible banking solutions to the community.

KeyCorp (NYSE: KEY) announced a cash dividend of $0.185 per share on common shares, payable on September 15, 2021, to shareholders on record as of August 31, 2021. Additional dividends include $312.50 per share on Series D Preferred Stock, $15.3125 on Series E, $14.1250 on Series F, and $14.0625 on Series G, also payable on September 15, 2021. This demonstrates the company’s commitment to returning value to its shareholders amidst its operations across 15 states.

KeyCorp (NYSE: KEY) will host an investor meeting on March 1, 2022, at 8:30 a.m. ET in New York City. CEO Chris Gorman and senior leadership will discuss the company's strategy, performance, and outlook. Attendance is by invitation for institutional investors and analysts. Those unable to attend can access a live audio webcast and presentation materials at www.key.com/ir. KeyCorp, headquartered in Cleveland, Ohio, has approximately $176.2 billion in assets and provides financial services across 15 states.

KeyBank announced its record graduation of 4,513 clients from the Secured Credit Card program in May 2021, doubling last year's figures. This initiative aims to assist clients in building or rebuilding their credit scores, especially for the 2,974 clients who initially had no FICO score. Clients improved their scores by an average of 78 points in six months. KeyBank plans to enhance access with a digital application process, emphasizing their commitment to financial wellness for communities affected by the pandemic.

KeyCorp (NYSE:KEY) has announced the appointment of James L. Waters as General Counsel and Corporate Secretary, effective July 6, 2021. Waters, with over 20 years of experience in corporate law focused on finance, previously served as General Counsel at Cullen/Frost Bankers, Inc., and as a partner at Haynes and Boone, LLP. His expertise in legal matters is expected to support Key's growth strategy, as highlighted by Chris Gorman, Chairman and CEO. KeyCorp, headquartered in Cleveland, has approximately $176.2 billion in assets as of March 31, 2021.