Keycorp Stock Price, News & Analysis

KeyBank and KeyBank Foundation announced a $300,000 investment in Ann Arbor's Avalon Housing to enhance supportive services for tenants at risk of housing instability. The funding will support intensive case management services, helping tenants navigate care systems and achieve long-term stability. Avalon Housing, using the Housing First approach, maintains a 95% housing retention success rate. The organization currently manages 29 sites in Ann Arbor, Dexter, and Chelsea, with 150 new units in development. This investment aims to address the increasing homelessness crisis in Washtenaw County while providing residents with access to jobs, education, and healthcare resources.

KeyBank Foundation has awarded a $150,000 Community Impact grant to Springfield Rescue Mission (SRM) to support their Workforce Development Outreach program. The grant, payable over two years, will help match mission residents with potential employers while providing training and support for sustainable employment. The funding will create a new Liaison position to coordinate between employers, employees, and SRM's case management team. The initiative is part of KeyBank's $40 billion commitment established in 2017 for community development, lending, and investments across its national footprint.

KeyBank has awarded a $150,000 grant to Covenant House Alaska (CHA) to fund a pilot prevention program targeting youth in child welfare, foster care, and juvenile justice systems. The initiative aims to provide comprehensive support including safe housing, life skills training, and workforce preparation. As the largest provider for homeless youth in southcentral Alaska, CHA will focus on career exploration, job placement, and ongoing mentorship to help vulnerable youth achieve stability and economic mobility.

New Reach has received a $300,000 Community Impact Grant from KeyBank Foundation to support their FISH food security program in New Haven. The grant, distributed over three years, will help stabilize operations and core expenses for FISH, which delivers groceries to homebound residents. FISH serves over 1,200 residents from more than 800 households monthly. The program merged with New Reach in 2023, benefiting from their infrastructure and support services. New Reach serves over 5,000 adults and children annually through various crisis and housing programs.

KeyCorp (NYSE: KEY) announced its participation in The BancAnalysts Association of Boston Conference, scheduled for November 8, 2024. Ken Gavrity, Head of Commercial Banking, and Clark Khayat, Chief Financial Officer, will present at 10:35 a.m. ET in Boston.

The company, headquartered in Cleveland, Ohio, manages assets of approximately $190 billion as of September 30, 2024. KeyCorp operates through KeyBank National Association across 15 states, maintaining roughly 1,000 branches and 1,200 ATMs. They provide deposit, lending, cash management, and investment services, along with corporate and investment banking products through KeyBanc Capital Markets.

KeyBank's Key4Women hosted its third annual forum in Pittsburgh on October 17th, drawing over 100 attendees to Franklin on Penn. The event, themed 'Perseverance: When Life is 'On the Rocks', featured keynote speaker Maria Costanzo Palmer, author of 'On the Rocks: The Primadonna Story', who shared insights on resilience and success through adversity.

The Key4Women program, launched in 2005, offers customized financial services, exclusive member events, thought leadership content, and support for women organizations. The program provides certified advisors and networking opportunities to foster professional development and create lasting connections among women in business.

KeyBank's Key4Women announces a free virtual webinar titled 'The Ownership Mindset: How to Bounce Back From Anything' scheduled for November 5th, 2024. The event features Kerry Siggins, CEO of StoneAge, who will share insights on leadership transformation and resilience. Under Siggins' leadership, StoneAge has achieved double-digit growth and transitioned to an ESOP structure in 2015. The webinar will address topics including embracing flaws, dealing with imposter syndrome, and implementing ownership mindset. Key4Women, launched in 2005, has provided over $12 billion in loans to women-owned businesses and offers free membership with access to Certified Key4Women Advisors.

KeyBanc Capital Markets (KBCM) and Sapphire Ventures released their 15th annual Private SaaS Company Survey, revealing key trends in the software industry. The survey of over 100 private SaaS companies shows ARR growth expected at ~19% in 2024, nearly double the public software companies' rate.

Companies are maintaining focus on operational efficiency and profitability while preparing for future growth. Notable findings include increased sales team quotas by over 10% in 2023, improved quota attainment from ~70% to ~75%, and consistent retention rates at ~90% gross and ~101% net. AI-first SaaS companies are particularly optimistic about growth acceleration in the next 12 months, with public market software valuations returning to normalized levels at ~5-6x NTM revenue.

KeyBank Foundation has provided funding for Urban Arts' Alumni Workforce Development Program, which hires college students who graduated from its digital arts program as Teaching Assistants (TAs) for new high school students. The program addresses the challenge that only 14% of low-income students complete college, primarily due to financial constraints. TAs earn money while teaching digital game design skills, gaining professional experience, and mentoring the next generation. The program helps cover college expenses like books, supplies, and living costs, which average $1,212 for first-year students, while providing valuable resume-building experience and maintaining connection with the Urban Arts community.