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 CEO Chris Gorman and CFO Don Kimble will present at the Barclays Global Financial Services Conference on September 14, 2020, at 2:00 p.m. ET. The conference will cover KeyCorp's performance, strategy, and outlook. A live audio webcast and presentation materials will be accessible via www.key.com/ir. KeyCorp, headquartered in Cleveland, Ohio, boasts assets of approximately $171.2 billion as of June 30, 2020, and operates over 1,000 branches in 15 states.
On August 13, 2020, KeyBank launched Key Smart Checking, a new checking account aimed at improving financial wellness. This account features no recurring monthly maintenance fees and offers tools like overdraft protection and EasyUp for automatic savings. Customers can access over 1,400 KeyBank ATMs and 40,000 Allpoint ATMs without surcharge fees. The initiative aligns with KeyBank's goal to support clients during ongoing financial challenges from the pandemic, by providing a digital banking experience with comprehensive financial management tools.
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KeyCorp (NYSE: KEY) reported a net income of $159 million for Q2 2020, up from $118 million in Q1 2020 but down 60.5% from $403 million in Q2 2019. The results reflect the CECL accounting method and the impact of COVID-19. The provision for credit losses exceeded net charge-offs by $386 million, showing prudent risk management. Total revenue was $1.717 billion, a 17.1% increase from Q1 2020, driven by strong noninterest income growth. KeyCorp remains well-capitalized and actively participated in the Paycheck Protection Program, providing over $8 billion in loans.
KeyCorp (NYSE: KEY) announced a cash dividend of $0.185 per share on common shares, payable on September 15, 2020. Record date is September 1, 2020. Preferred stock dividends include $312.50 for Series D, $15.3125 for Series E, $14.1250 for Series F, and $14.0625 for Series G, all payable on the same date with a record date of August 31, 2020. KeyCorp, headquartered in Cleveland, has approximately $156.2 billion in assets as of March 31, 2020, serving clients through over 1,000 branches across 15 states.
KeyCorp (NYSE: KEY) announced its preliminary Stress Capital Buffer requirement from the Federal Reserve, set at 2.5%. This buffer is crucial for banks of Key's size and will be finalized before Q4 2020. CEO Chris Gorman emphasized the company's commitment to a moderate risk profile and robust capital management, stating that their strong balance sheet enables them to sustain operations during tough economic conditions while supporting clients. KeyCorp aims to maintain its common stock dividend for Q3 2020, pending Board approval.
Idemitsu Renewables has successfully secured $60 million in debt financing for its 50 MWp Central 40 solar project in Stanislaus County, California. KeyBank National Association provided the financing, with KeyBanc Capital Markets acting as the arranger. This project strengthens Idemitsu's solar business in California, facilitating power sales through an agreement with Silicon Valley Power. The company continues to expand its renewable energy initiatives, contributing to sustainable energy solutions.