Investors with an interest in Banks - Major Regional stocks have likely encountered both KeyCorp (KEY - Free Report) and Northern Trust Corporation (NTRS - Free Report) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.
Currently, KeyCorp has a Zacks Rank of #2 (Buy), while Northern Trust Corporation has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that KEY has an improving earnings outlook. But this is only part of the picture for value investors.
Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
KEY currently has a forward P/E ratio of 11.41, while NTRS has a forward P/E of 14.15. We also note that KEY has a PEG ratio of 0.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NTRS currently has a PEG ratio of 0.94.
Another notable valuation metric for KEY is its P/B ratio of 1.43. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, NTRS has a P/B of 2.43.
These metrics, and several others, help KEY earn a Value grade of B, while NTRS has been given a Value grade of F.
KEY stands above NTRS thanks to its solid earnings outlook, and based on these valuation figures, we also feel that KEY is the superior value option right now.
Earnings Per Share: $0.51, up 24% year over year.Revenue: Record quarterly revenue over $2 billion, up 8% year over year.Pre-Provision Net Revenue (PPNR): Recor
Analyst’s Disclosure: I/we have a beneficial long position in the shares of USB either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
On its third quarter 2026 earnings call, held on Oct. 20, 2026, KeyCorp (KEY +4.47%) reported third quarter earnings of $0.51 per share, up 24% year over year. The bank generated return on tangible common equity (ROTCE), a key measure of profitability, of 15.1%, up 260 basis points year over year. It expanded net interest margin (NIM), the difference between interest earned and paid, by six basis points sequentially to 2.95%. Three takeaways from management explain this performance.
1. Commercial Borrowers Are Increasing Line Utilization To Invest In GrowthCommercial and industrial (C&I) loan balances expanded as commercial clients drew down credit lines for capital expenditures and small acquisitions.
Period-end C&I loans increased 5% sequentially, reflecting both new client acquisition and a 200 basis point increase in line utilization to 33%, the highest level in over three years.
-- Chris Gorman, Chairman and Chief Executive Officer2. Strong Client Deposit Growth Is Replacing Wholesale FundingClient deposit growth outpaced loan expansion in the third quarter, allowing KeyCorp to reduce wholesale borrowing and contain funding costs.
Last quarter, we communicated expectations for $3 billion or more of client deposit growth in the second half of 2026, and based on the growth in the third quarter, we have nearly achieved that. While we continue to monitor deposit dynamics in a higher rate environment, we now expect incremental client deposit growth beyond the original $3 billion, and we expect our loan growth for the remainder of 2026 to be fully client deposit funded.
-- Clark Khayat, Chief Financial Officer and Head of Technology3. Artificial Intelligence Deployment Targets Core Operational ProcessesKeyCorp is deploying artificial intelligence (AI) tools across commercial onboarding, originations, consumer servicing, and software engineering to boost productivity.
The confluence of well-understood processes with supporting data and an opportunity to reimagine client and employee experiences is proving to be a valuable recipe for AI tools. We are still early in the process but are optimistic that we can generate growth and efficiency while improving risk and controls.
-- Clark Khayat, Chief Financial Officer and Head of TechnologyLooking AheadRevenue and pre-provision net revenue (PPNR), which measures earnings before taxes and credit loss provisions, are on pace for record levels in 2026. Management relies on fixed-asset repricing and core deposit growth to maintain long-term top-line momentum.
With our strong trajectory and healthy pipelines, I believe we are well positioned to drive another year of outsized revenue and earnings growth in 2027.
-- Chris Gorman, Chairman and Chief Executive OfficerFixed-asset repricing and deposit gathering remain the primary drivers for achieving KeyCorp's long-term profitability targets.
The most important target we have out there for the fourth quarter 2027 is delivering 15%+ ROTCE. Based on what we are seeing today and the performance we are delivering, we remain highly confident we are going to achieve that.
-- Clark Khayat, Chief Financial Officer and Head of TechnologyThe Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
5 Stocks Showing Why Pricing Power Matters More Than Government MoneyKeyCorp NYSE: KEY reported third-quarter 2026 earnings of $0.51 per share, up 24% from a year earlier, as record revenue, commercial loan growth and improved credit quality supported results. Chairman and Chief Executive Officer Chris Gorman said quarterly revenue exceeded $2 billion, an 8% year-over-year increase, while return on average tangible common equity rose above the company’s 15% target threshold.
“We reported record quarterly revenue of over $2 billion,” Gorman said, adding that KeyCorp generated return on tangible common equity exceeding 15% as it works toward sustaining that level by the end of 2027. The company reported return on average tangible common equity of 15.1%, up 260 basis points from the prior year.
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Revenue, margin and loan growth 3 Lesser-Known Quantum Plays the Market May Be Overlooking Right NowChief Financial Officer and Head of Technology Clark Khayat said tax-equivalent net interest income increased 10% year over year and 4% from the second quarter. Net interest margin expanded 6 basis points sequentially to 2.95%, helped by commercial loan growth, deposit growth, funding optimization, securities and swap repricing, and an additional day in the quarter.
Average loans rose $1.5 billion sequentially. Average commercial and industrial loans increased $2.3 billion, or 4%, while period-end C&I balances increased $3.3 billion, or 5%. Gorman said growth was broad-based across industries and geographies, driven by new client acquisition, greater line utilization and business investment.
Keysight: The AI and Defense Stock Seeing Big Price Target BoostsC&I line utilization rose 200 basis points to 33%, the highest level in more than three years. Gorman said clients were using credit lines to support inventory, capital expenditures and small tuck-in acquisitions. He also pointed to utilities, power and renewable-energy clients as an area of significant growth, saying investment-grade utilities are making major investments in generation and distribution.
Management said it expects some moderation in loan growth during the fourth quarter. Gorman said loan demand remains substantial, though transactional real estate activity has slowed as borrowers and investors adapt to higher financing costs.
The company updated its 2026 outlook, now expecting:
Approximately 10% full-year net interest income growth, narrowed from prior guidance of 9% to 11%. Approximately 5% average loan growth, compared with previous guidance of 4% to 5%. Approximately 10% average commercial loan growth, versus a prior outlook of 8% to 10%. Net charge-offs of 37 to 39 basis points for the year, improved from prior guidance of 40 to 45 basis points. Fourth-quarter net interest margin of about 3%. Khayat reaffirmed the company’s target for net interest margin of at least 3.25% in the fourth quarter of 2027. He said about $24 billion of securities, swaps and residential mortgages are expected to roll off through the end of 2027, with a projected weighted-average yield pickup of roughly 165 basis points based on current rate assumptions and forward-starting swaps.
Deposits support funding strategy Average deposits increased $3.6 billion, or 2.4%, from the prior quarter, exceeding loan growth and allowing KeyCorp to reduce wholesale funding. Client deposits, excluding certificate of deposit growth, rose $2.8 billion, driven largely by commercial operating balances.
Total deposit costs increased 3 basis points to 1.66%, while total funding costs increased only 1 basis point. Khayat said third-quarter growth included expected seasonal commercial deposit flows, deeper relationships with existing customers and deposits from clients added earlier in the year.
The company had previously expected at least $3 billion of client deposit growth during the second half of 2026. Khayat said KeyCorp nearly reached that figure in the third quarter alone and now anticipates additional client deposit growth. The company expects fourth-quarter loan growth to be fully funded by client deposits and said it expects deposits to grow at or above loan growth through 2027.
Fee businesses and investment banking Non-interest income increased 6% from a year earlier, despite a $6 million Visa-related charge in the quarter. Investment banking and debt placement fees totaled $214 million, increasing 27% sequentially on stronger merger-and-acquisition and syndication activity.
Gorman said investment-banking pipelines rose 5% from the second quarter and 20% year over year despite strong third-quarter conversion. He reiterated KeyCorp’s expectation for mid-single-digit investment-banking fee growth in 2026 and said the company remains comfortable with its stated goal of reaching $1 billion in annual investment-banking revenue by 2028.
Management said middle-market M&A activity has yet to normalize. Gorman noted that transactions under $1 billion were down 11% year to date, while deals above $1 billion were up 12%. He said volatility in interest rates and forward rate expectations has contributed to the slower pace of middle-market transactions, although the company sees a significant backlog of potential activity.
Other fee categories also grew. Trust and investment-services income increased 10% year over year on higher market values and positive client flows. Cards and payments fees increased 8%, while service charges on deposit accounts rose 5%. Commercial mortgage servicing fees were $53 million, and the company expects $50 million to $60 million in fourth-quarter servicing fees.
Credit, capital and technology investment Credit quality improved during the quarter. Net charge-offs were $89 million, or 32 basis points of average loans, while nonperforming assets declined $191 million sequentially to 55 basis points, the lowest level since late 2023. The criticized loan ratio was unchanged at 4.9%.
Khayat said the provision for credit losses was $61 million, including a $28 million reserve release. The release reflected improved portfolio performance, scenario effects and a continued shift toward higher-credit-quality relationships, partially offset by qualitative reserve builds related to economic and geopolitical uncertainty.
KeyCorp’s CET1 ratio was 11.1% at quarter-end, with a marked CET1 ratio of 9%. The company repurchased $320 million of common stock during the quarter and has repurchased more than $1 billion year to date. It has about $250 million remaining under its 2026 target of $1.3 billion in share repurchases.
Gorman said capital priorities remain supporting clients, investing in people and technology, maintaining the dividend and returning excess capital through buybacks. He said traditional whole-bank mergers and acquisitions are not a priority, though the company continues to pursue tuck-in acquisitions such as Clearwater.
KeyCorp said it is investing $1 billion in technology during 2026 and is expanding artificial-intelligence initiatives across commercial onboarding and servicing, commercial originations, consumer servicing and software engineering. Management said the effort is intended to simplify processes, improve productivity, reduce fraud, accelerate client onboarding and enhance risk controls.
Looking ahead, Gorman said KeyCorp expects record revenue and pre-provision net revenue for 2026 and believes the company is positioned for another year of “outsized” revenue and earnings growth in 2027, though formal 2027 guidance is expected at year-end.
About KeyCorp (NYSE:KEY)KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.
KeyBank's offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.
KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.
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KeyCorp (KEY - Free Report) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +10.87%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.44, delivering a surprise of +4.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
KeyCorp, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $2.05 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.13%. This compares to year-ago revenues of $1.89 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
KeyCorp shares have lost about 3.5% since the beginning of the year versus the S&P 500's gain of 12.4%.
What's Next for KeyCorp?While KeyCorp has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for KeyCorp was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.49 on $2.12 billion in revenues for the coming quarter and $1.83 on $8.07 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Major Regional is currently in the bottom 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, BankUnited, Inc. (BKU - Free Report) , is yet to report results for the quarter ended September 2026. The results are expected to be released on October 21.
This company is expected to post quarterly earnings of $1.05 per share in its upcoming report, which represents a year-over-year change of +10.5%. The consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level.
BankUnited, Inc.'s revenues are expected to be $292.61 million, up 6.1% from the year-ago quarter.
Key Takeaways KeyCorp's Q3 earnings of 51 cents per share beat estimates, while revenues rose 8.3% y/y.KEY's NII grew 9.6%, while non-interest income climbed 6%, driven by higher banking fees.KeyCorp's credit loss provisions fell 43%, but expenses rose 5.8% and capital ratios weakened.
KeyCorp’s (KEY - Free Report) third-quarter 2026 earnings from continuing operations of 51 cents per share surpassed the Zacks Consensus Estimate of 46 cents. The bottom line reflected a 24.4% rise from the prior-year quarter.
Results primarily benefited from higher net interest income (NII) and non-interest income. Higher average loan balances, along with lower provisions, were other tailwinds. However, higher expenses hurt the results to some extent.
Net income from continuing operations attributable to common shareholders was $537 million, up from $454 million in the prior-year quarter.
KEY’s Revenues Improve, Expenses RiseTotal revenues (taxable-equivalent or TE) increased 8.3% year over year to a record $2.05 billion. The top line surpassed the Zacks Consensus Estimate of $2.03 billion.
NII (TE basis) jumped 9.6% from the prior-year quarter to $1.31 billion. The net interest margin (TE basis) from continuing operations expanded 20 basis points (bps) to 2.95%. Both metrics benefited from lower deposit costs as a result of declining interest rates and proactive deposit beta management, the reinvestment of proceeds from maturing low-yielding investment securities and fixed-rate swaps into higher-yielding investments, an expanding balance sheet and a continued strategic shift toward higher-yielding commercial and industrial loans. These benefits were partially offset by the impact of lower interest rates on repricing earning assets.
Non-interest income was $744 million, up 6% year over year. The rise was mainly driven by higher investment banking and debt placement fees, trust and investment services income, and cards and payments income. These were partially offset by lower commercial mortgage servicing fees.
Non-interest expenses increased 5.8% year over year to $1.25 billion. The rise was predominantly due to an increase in personnel expenses, primarily related to continued investments in people, employee benefits and incentive compensation associated with non-interest income growth. These were partially offset by a decline in other expenses.
At the end of the third quarter, average total loans were $111.59 billion, up 1.4% from the previous quarter and 5% year over year. Average total deposits were $151.18 billion, up 2.4% sequentially and 0.5% year over year.
KEY’s Credit Quality ImprovesThe provision for credit losses was $61 million, down 43% from the prior-year quarter.
Net loan charge-offs, as a percentage of average total loans, declined 10 bps year over year to 0.32%. Also, non-performing assets, as a percentage of period-end portfolio loans, other real estate-owned property assets and other non-performing assets, were 0.55%, down 8 bps.
The allowance for loan and lease losses was $1.40 billion, down 3.2% year over year.
KeyCorp’s Capital Ratios DeteriorateKEY’s tangible common equity to tangible assets ratio was 6.9% as of Sept. 30, 2026, down from 8.1% in the corresponding period of 2025.
The Tier 1 risk-based capital ratio was 12.3%, down from 13.5%. The Common Equity Tier 1 ratio was 11.1%, down from 11.8% as of Sept. 30, 2025.
Update on KEY’s Share RepurchasesIn the reported quarter, KeyCorp repurchased shares worth $320 million at an average price of $22.57 per share.
Our Take on KEYKeyCorp delivered record revenues and pre-provision net revenues in the third quarter of 2026. The company generated a return on tangible common equity exceeding 15%, reinforcing its confidence in achieving and sustaining a return on tangible common equity of 15% or more by the end of 2027.
Along with this, robust commercial and industrial loan growth, balance sheet repositioning efforts and growth in fee-based businesses will likely support the company’s top-line growth in the near term. However, higher non-interest expenses and declining capital ratios remain concerning.
KeyCorp currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Major BanksBank of America’s (BAC - Free Report) third-quarter 2026 adjusted earnings of $1.08 per share missed the Zacks Consensus Estimate of $1.11. In the prior-year quarter, the company reported earnings of $1.04.
Bank of America witnessed dismal trading performance this time around due to weaker fixed-income trading. Similarly, amid weakness in advisory and debt underwriting activities, BAC’s investment banking (IB) business performance was not good.
While BAC’s capital markets business performance was not impressive this time, year-over-year growth in NII drove total revenues. Provisions declined in the quarter on a year-over-year basis, which was a positive, but non-interest expenses increased, creating another major headwind.
JPMorgan’s (JPM - Free Report) third-quarter 2026 adjusted earnings of $5.75 per share missed the Zacks Consensus Estimate of $5.94. After considering the net investment securities losses of 18 cents, earnings were $5.57 per share, up 9.9% from the year ago.
JPM’s reported net revenues of $50.17 billion rose 8% year over year. Strong equity trading performance, IB activity and loan growth supported revenues, while the fixed income trading business was subdued. While JPMorgan recorded a year-over-year rise in expenses in the quarter, it witnessed a decline in provisions, which aided results to some extent.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
KeyCorp (KEY - Free Report) reported $2.05 billion in revenue for the quarter ended September 2026, representing a year-over-year increase of 8.8%. EPS of $0.51 for the same period compares to $0.41 a year ago.
The reported revenue represents a surprise of +1.13% over the Zacks Consensus Estimate of $2.03 billion. With the consensus EPS estimate being $0.46, the EPS surprise was +10.87%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Book value at period end: $15.01 versus the four-analyst average estimate of $15.93.Net interest margin (TE) from continuing operations: 3% versus 3% estimated by four analysts on average.Net loan charge-offs to average loans: 0.3% versus 0.4% estimated by four analysts on average.Cash efficiency ratio (non-GAAP): 60.6% versus the four-analyst average estimate of 61.2%.Capital Ratios - Tier 1 risk-based capital: 12.3% versus the two-analyst average estimate of 12.5%.Capital Ratios - Leverage: 9.9% versus the two-analyst average estimate of 10.1%.Average Balance - Total earning assets: $173.77 billion compared to the $173.97 billion average estimate based on two analysts.Service charges on deposit accounts: $79 million compared to the $79 million average estimate based on four analysts.Corporate services income: $72 million versus $77.3 million estimated by four analysts on average.Trust and investment services income: $165 million compared to the $160.88 million average estimate based on four analysts.Investment banking and debt placement fees: $214 million versus the four-analyst average estimate of $207.04 million.Cards and payments income: $93 million versus $93.44 million estimated by four analysts on average.View all Key Company Metrics for KeyCorp here>>>
Shares of KeyCorp have returned -4.6% over the past month versus the Zacks S&P 500 composite's +0.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Record revenue of $2.04 billion, up 8% year-over-year and 4% sequentially Net interest margin of 2.95%, up 20 basis points year-over-year and 6 basis points sequentially Deposit growth outpaced loan growth - average deposits increased $3.6 billion sequentially while average loans held for investment increased $1.5 billion Investment banking and debt placement fees up 27% sequentially Common Equity Tier 1 ratio of 11.1% (a) ; repurchased $320 million of common shares during the quarter Generated a return on tangible common equity (b) exceeding 15% CLEVELAND, Oct. 20, 2026 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced third quarter of 2026 net income from continuing operations attributable to Key common shareholders of $537 million, or $0.51 per diluted common share. For the second quarter of 2026, net income from continuing operations attributable to Key common shareholders was $472 million, or $0.44 per diluted common share.
Key Takeaways KeyCorp's Q3 earnings are projected to rise 12.2% y/y, with revenues expected to grow 7.6%.KEY's NII is expected to climb 8.4%, aided by stabilizing funding costs and steady loan demand.KEY's fee income is expected to rise 5.3%, while higher provisions and expenses may weigh on results.
KeyCorp (KEY - Free Report) is slated to announce third-quarter 2026 results on Oct. 20, before the opening bell. Following robust lending activity in the first half of 2026, loan growth appears to have moderated somewhat in the to-be-reported quarter amid persistent inflationary pressures and economic uncertainties.
Nonetheless, per the Fed’s latest data, the demand for commercial and industrial (C&I) loans, which account for a significant portion of KeyCorp’s loan portfolio, has remained resilient, supported by corporate borrowing needs and steady business activity. Consumer lending demand also provided some support. The Zacks Consensus Estimate for KEY’s third-quarter average earning assets is pegged at $174 billion, which indicates a 2.1% rise from the prior-year quarter.
Meanwhile, the interest rate environment and evolving monetary policy expectations are likely to have influenced KeyCorp’s net interest income (“NII”) performance. Stabilizing funding costs, a favorable shift in the deposit mix and steady loan demand are expected to have supported interest income generation. However, competitive deposit pricing and continued pressure on loan yields might have partially offset these benefits.
The Zacks Consensus Estimate for NII (on a fully tax-equivalent basis) is pegged at $1.29 billion, suggesting an 8.4% year-over-year increase.
Other Factors to Influence KeyCorp’s Q3 EarningsNon-Interest Income: The third quarter was challenging for the mortgage banking business as mortgage rates hovered around 7% and affordability was low. Both origination volume and refinance activity faced persistent headwinds from inventory constraints and a higher-for-longer rate regime. Given this, income from KEY’s mortgage banking business is less likely to have recorded much improvement.
The Zacks Consensus Estimate for commercial mortgage servicing fees of $53 million implies a 27.4% year-over-year decline. The consensus estimate for consumer mortgage income of $16.92 million indicates a 20.9% rise.
As the quarter witnessed a decent increase in asset inflows, the consensus estimate for KEY’s trust and investment services income of $161 million indicates a 7.3% rise from the prior-year quarter.
IPO activity remained healthy in the to-be-reported quarter. However, global bond issuance moderated following a record-setting first half, while merger and acquisition activity slowed considerably amid geopolitical uncertainties, persistent inflationary pressures and shifting interest rate expectations. These factors are likely to have weighed on investment banking activity and deal execution.
Nonetheless, elevated market volatility and robust client trading activity, driven by changing expectations surrounding artificial intelligence (AI), geopolitical tensions and the Federal Reserve’s monetary policy stance, are likely to have supported trading revenues. The Zacks Consensus Estimate for KEY’s investment banking (“IB”) and debt placement fees is pegged at $207 million, indicating a 12.5% year-over-year increase.
The consensus estimate of $79 million for service charges on deposit accounts implies 5.3% year-over-year growth. With an improvement in consumer spending in the to-be-reported quarter, the consensus mark for cards and payments income of $93 million indicates growth of 8.1%.
Overall, the consensus estimate for KeyCorp’s total non-interest income of $739 million suggests an improvement of 5.3% from the prior-year quarter.
Expenses: KeyCorp’s efforts to reorganize operations and exit unprofitable/non-core businesses have helped it save costs in the past. Also, the company’s initiatives to drive operational efficiency are likely to have curbed expense growth in the to-be-reported quarter. Yet, investments in franchises and technological upgrades are expected to have resulted in a rise in total non-interest expenses.
Asset Quality: KEY is expected to have stepped up reserve building in the third quarter, reflecting heightened credit risks stemming from the Middle East conflict, volatile oil prices, persistent inflation and elevated interest rates. Consequently, the company’s provisions for credit losses are likely to have increased in the to-be-reported quarter.
Major Q3 Development for KEYIn August, KeyCorp completed the acquisition of Clearwater Corporate Finance LLP (Clearwater UK), a UK-based middle-market IB advisory firm, marking another step in expanding the advisory business and establishing its presence in the Western European market.
Building on a collaboration between KeyBanc Capital Markets and Clearwater UK that began in 2020, the acquisition strengthens KeyCorp's middle-market M&A capabilities and enhances opportunities to serve U.S. and European corporate and private equity clients.
What the Zacks Model Predicts for KeyCorpPer our proven model, the chances of KeyCorp beating the Zacks Consensus Estimate for earnings are high this time. This is because it has the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for KeyCorp is +0.44%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Q3 Earnings & Sales Growth Expectations for KeyCorpThe Zacks Consensus Estimate for KEY’s earnings is pegged at 46 cents per share, which has been unchanged in the past week. The figure indicates a 12.2% rise from the prior-year quarter.
The consensus estimate for quarterly sales is pegged at $2.03 billion, indicating a year-over-year increase of 7.6%.
Other Stocks Worth ConsideringHere are a couple of other finance stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time around:
Associated BancCorp (ASB - Free Report) is scheduled to announce third-quarter 2026 results on Oct. 22. The company currently has a Zacks Rank #3 and an Earnings ESP of +1.71%.
Quarterly earnings estimates for ASB have been unchanged at 76 cents per share over the past week.
The Earnings ESP for Ameriprise Financial (AMP - Free Report) is +0.35% and it carries a Zacks Rank of 3 at present. The company is slated to report third-quarter 2026 results on Oct. 29. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past seven days, the Zacks Consensus Estimate for AMP’s quarterly earnings has been unchanged at $11.60 per share.
KeyCorp (NYSE:KEY) will release its third-quarter earnings report before the opening bell on Tuesday, Oct. 20.
Analysts expect the Cleveland, Ohio-based company to report quarterly earnings of 46 cents per share, up from 41 cents per share in the year-ago period. The consensus estimate for KeyCorp’s quarterly revenue is $2.05 billion. It reported $1.9 billion last year, according to Benzinga Pro.
On Sept. 29, KeyBank announced that Drue Anderson has joined the company to lead Retail Banking.
KeyCorp shares fell 0.6% to close at $19.79 on Wednesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
TD Cowen analyst R. Scott Siefers reinstated a Buy rating with a price target of $23 on Oct. 8, 2026. This analyst has an accuracy rate of 62%. UBS analyst Erika Najarian maintained a Buy rating and cut the price target from $27 to $25 on Oct. 5, 2026. This analyst has an accuracy rate of 61%. JP Morgan analyst Vivek Juneja maintained a Neutral rating and cut the price target from $24.5 to $23 on Oct. 2, 2026. This analyst has an accuracy rate of 56%. Evercore ISI Group analyst John Pancari maintained an Outperform rating and lowered the price target from $26 to $24 on Oct. 1, 2026. This analyst has an accuracy rate of 60%. Truist Securities analyst Brian Foran maintained a Hold rating and cut the price target from $24 to $23 on Sept. 23, 2026. This analyst has an accuracy rate of 61%. Considering buying KEY stock? Here’s what analysts think:
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Analysts on Wall Street project that KeyCorp (KEY - Free Report) will announce quarterly earnings of $0.46 per share in its forthcoming report, representing an increase of 12.2% year over year. Revenues are projected to reach $2.03 billion, increasing 7.6% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.2% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific KeyCorp metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Book value at period end' will likely reach $15.93 . Compared to the current estimate, the company reported $15.86 in the same quarter of the previous year.
The consensus estimate for 'Cash efficiency ratio (non-GAAP)' stands at 61.2%. The estimate compares to the year-ago value of 61.8%.
The average prediction of analysts places 'Capital Ratios - Tier 1 risk-based capital' at 12.5%. Compared to the present estimate, the company reported 13.5% in the same quarter last year.
According to the collective judgment of analysts, 'Capital Ratios - Leverage' should come in at 10.1%. The estimate is in contrast to the year-ago figure of 10.4%.
Based on the collective assessment of analysts, 'Average Balance - Total earning assets' should arrive at $173.97 billion. The estimate compares to the year-ago value of $170.35 billion.
Analysts forecast 'Service charges on deposit accounts' to reach $79.00 million. The estimate compares to the year-ago value of $75.00 million.
It is projected by analysts that the 'Corporate services income' will reach $77.30 million. The estimate compares to the year-ago value of $72.00 million.
The consensus among analysts is that 'Trust and investment services income' will reach $160.88 million. The estimate is in contrast to the year-ago figure of $150.00 million.
The collective assessment of analysts points to an estimated 'Investment banking and debt placement fees' of $207.04 million. Compared to the current estimate, the company reported $184.00 million in the same quarter of the previous year.
Analysts expect 'Cards and payments income' to come in at $93.44 million. Compared to the current estimate, the company reported $86.00 million in the same quarter of the previous year.
Analysts predict that the 'Net interest income (TE)' will reach $1.29 billion. The estimate is in contrast to the year-ago figure of $1.19 billion.
Analysts' assessment points toward 'Net Interest Income' reaching $1.29 billion. The estimate compares to the year-ago value of $1.18 billion.
View all Key Company Metrics for KeyCorp here>>>
Over the past month, KeyCorp shares have recorded returns of -4.5% versus the Zacks S&P 500 composite's +1.4% change. Based on its Zacks Rank #3 (Hold), KEY will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
The market expects KeyCorp (KEY - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 20, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of +12.2%.
Revenues are expected to be $2.03 billion, up 7.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.87% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for KeyCorp?For KeyCorp, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.44%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that KeyCorp will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that KeyCorp would post earnings of $0.42 per share when it actually produced earnings of $0.44, delivering a surprise of +4.76%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
KeyCorp appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAnother stock from the Zacks Banks - Major Regional industry, Truist Financial Corporation (TFC - Free Report) , is soon expected to post earnings of $1.17 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +12.5%. Revenues for the quarter are expected to be $5.31 billion, up 2.4% from the year-ago quarter.
The consensus EPS estimate for Truist Financial has been revised 1.6% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +2.67%.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP indicates that Truist Financial will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Farther Finance Advisors LLC grew its stake in shares of KeyCorp (NYSE: KEY) by 102.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,552 shares of the financial services provider's stock after purchasing an additional 63,016 shares during the period. Farther
Shares of KeyCorp (NYSE:KEY – Get Free Report) have received a consensus rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $48.83.
Several analysts have recently issued reports on the company. Evercore reiterated an “outperform” rating and issued a $24.00 price objective on shares of KeyCorp in a research note on Thursday, October 1st. Wells Fargo & Company upped their price target on KeyCorp from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Wall Street Zen raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $24.50 to $23.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Truist Financial lowered their price objective on KeyCorp from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Wednesday, September 23rd.
Read Our Latest Analysis on KEY
Hedge Funds Weigh In On KeyCorp A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of Nova Scotia purchased a new stake in KeyCorp during the 2nd quarter worth about $3,636,436,000. BlackRock Inc. purchased a new stake in KeyCorp during the second quarter worth approximately $2,039,113,000. State Street Corp boosted its holdings in KeyCorp by 9.0% in the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock valued at $1,184,048,000 after purchasing an additional 4,238,225 shares in the last quarter. Deutsche Bank AG acquired a new position in KeyCorp in the second quarter valued at approximately $380,244,000. Finally, North Reef Capital Management LP purchased a new position in KeyCorp in the first quarter valued at approximately $253,632,000. Institutional investors and hedge funds own 79.69% of the company’s stock. KeyCorp Trading Down 0.3% NYSE KEY opened at $20.11 on Wednesday. The firm has a 50 day simple moving average of $21.71 and a 200-day simple moving average of $21.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. KeyCorp has a one year low of $16.47 and a one year high of $24.07. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.76 and a beta of 1.08.
KeyCorp (NYSE:KEY – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts anticipate that KeyCorp will post 1.83 EPS for the current fiscal year.
KeyCorp Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.2050 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.1%. KeyCorp’s dividend payout ratio is currently 47.67%.
About KeyCorp (Get Free Report)
KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.
KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.
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Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering KeyCorp (KEY - Free Report) , which belongs to the Zacks Banks - Major Regional industry.
When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.04%, on average, in the last two quarters.
For the most recent quarter, KeyCorp was expected to post earnings of $0.42 per share, but it reported $0.44 per share instead, representing a surprise of 4.76%. For the previous quarter, the consensus estimate was $0.41 per share, while it actually produced $0.44 per share, a surprise of 7.32%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for KeyCorp. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
KeyCorp has an Earnings ESP of +0.88% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on October 20, 2026.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
, /PRNewswire/ -- Kroenke Sports & Entertainment (KSE) announced a three-year partnership renewal with KeyBank (NYSE: KEY) – one of the nation's largest bank-based financial services companies, with more than 50 branches in Colorado – which includes a new designation for KeyBank as the exclusive Official Retail Bank Partner of the Colorado Avalanche.
Image courtesy: Colorado Avalanche Through the partnership, KeyBank will assume naming rights for what will now be known as the KeyBank Ice Deck – an exclusive, all-inclusive premium seating area on the glass – and a new KeyBank Small Business Spotlight program highlighting Colorado-based small businesses through segments on Altitude Sports television and radio, digital media, and in-game elements at Ball Arena. KeyBank also will serve as presenting sponsor of the next three regular-season home openers and the annual Avalanche Alumni Game at the University of Denver. The KeyBank logo will appear in center ice at Ball Arena, under the Avalanche logo, and on banners inside the Arena's Grand Atrium (west) entrance.
"KeyBank is proud to return as the Official Retail Bank of the Colorado Avalanche, building on a relationship that dates back to the team's first puck drop 30 years ago," said Chris Picardi, KeyBank Colorado Market President. "For three decades, we've been honored to serve Colorado families, businesses and communities while sharing in the excitement and pride Avs hockey brings to our state. This partnership reflects our deep roots in Colorado and our ongoing commitment to investing in the places where we live and work. We are excited to begin this next chapter with the Avalanche and look forward to all we can accomplish together."
As an original partner since the franchise came to Denver in 1995, KeyBank has been with the Avs through more than 1,428 wins and three Stanley Cup Championships. Last season, KeyBank was the presenting sponsor of the Avs Alley watch parties for the 2026 Stanley Cup Playoffs.
"KeyBank has been an exceptional partner of the Colorado Avalanche, sharing our commitment to excellence, innovation, and making a meaningful impact throughout our community," said Lacy Ekert, Chief Commercial Officer at Kroenke Sports & Entertainment. "As we continue this longstanding relationship, we are excited to build on the strong foundation we've created together and deliver memorable experiences for our fans while supporting initiatives that strengthen Colorado. We are proud to extend and expand our partnership with KeyBank and look forward to the continued success we will achieve together."
The KeyBank Ice Deck includes eight all-inclusive tickets on the glass in the corner of the Avs' attack-twice side. To check availability, visit AvalanchePremium.com.
About KeyBank
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
About Kroenke Sports & Entertainment
Denver-based Kroenke Sports & Entertainment (KSE) is one of the world's leading ownership, entertainment, and management groups. KSE's portfolio of professional sports teams and venues include Arsenal F.C. (EPL), Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids (MLS), Colorado Mammoth (NLL), SoFi Stadium, Emirates Stadium, Ball Arena, DICK'S Sporting Goods Park, and the historic Paramount Theatre. Additional properties under KSE's umbrella include Altitude Sports & Entertainment, a 24-hour regional television network; Altitude+, the direct-to-consumer streaming service; KSE Radio, which includes Altitude Sports Radio 92.5 FM, MIX 100, KOOL 105 and Altitude Sports Radio 950 AM; and Outdoor Sportsman Group, the largest media company devoted to outdoor sports.
, /PRNewswire/ -- Key Wealth at KeyBank (NYSE: KEY) announced today the appointment of Mike Keane as Chief Operating Officer, Key Wealth, effective October 1, 2026. Keane will report to Joe Skarda, Head of Key Wealth, and will lead the integrated delivery of Key Wealth's financial planning, investment, fiduciary, and banking capabilities across the business. Mike succeeds Joe Calabrese, who announced his plans to retire later this year and will remain with the organization through year-end to support an effective leadership transition.
Mike Keane, Chief Operating Officer of Key Wealth at KeyBank. "Mike is a proven financial services leader with deep experience driving growth, modernizing operating models, and building high-performing teams," said Joe Skarda, Head of Key Wealth. "His track record of leading transformation across wealth management and banking makes him exceptionally well suited to help guide the next chapter of our business. We are excited to welcome Mike to Key Wealth and look forward to the leadership, insight, and energy he brings to the organization."
Keane, based in Baltimore, brings more than 25 years of experience leading strategy, operations, and business transformation across wealth management, brokerage, and banking organizations. Most recently, he served as Chief Operating Officer of Wilmington Trust, M&T Bank's wealth management division. During his tenure, he led significant growth, modernization, and operational initiatives focused on enhancing both client and advisor experiences.
Mike earned a Bachelor of Science in Finance and an MBA from the University at Buffalo and has completed executive education programs at Harvard Law School and the University of Michigan Ross School of Business.
"Key Wealth has a strong reputation for delivering comprehensive advice and personalized service to clients, and I'm honored to join the organization at such an exciting time," said Mike Keane. "I look forward to partnering with Joe, the Wealth leadership team, and colleagues across the bank to build on the strong foundation already in place and continue driving growth and innovation for our clients and advisors."
As part of the transition, Joe Calabrese will continue supporting the business through the end of the year before retiring following a distinguished career spanning more than three decades in wealth management. Since joining Key Wealth in 2016, Joe has played a significant role in shaping the organization's growth strategy, operating model, and client experience capabilities while helping advance several key strategic initiatives across the Wealth business.
"Joe's contributions to Key Wealth and the broader wealth management industry have been extraordinary," said Skarda. "We are grateful for his leadership, partnership, and lasting impact on our organization. We look forward to celebrating his many accomplishments in the months ahead while ensuring a seamless transition to Mike's leadership."
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
KeyBank survey shows one-third of small business owners have cut their own income to offset rising costs, yet 88% still believe in the dream that started their business
, /PRNewswire/ -- Small business owners are continuing to combat inflation and rising costs, according to the newly released KeyBank (NYSE: KEY) 2026 Small Business Survey. The survey found that one-third (33%) of owners are absorbing rising costs out of their own paycheck rather than passing them on to customers underscoring the value they place on the relationships they've built.
KeyBank 2026 Small Business Survey Still, their resolve hasn't wavered and they are generating success even amid economic hardship. Nearly every small business owner can point to a tangible win this year - with 94% of owners claiming they made one accomplishment this year, 79% saying two or more and nearly two-thirds (62%) stating three or more in the past year.
Owners described their accomplishments as: keeping prices stable for customers, improving operating efficiency, sustaining their current customer base, adding new products or services, or growing revenue year over year.
The findings underscore the small businesses owners momentum and passion: 88% of owners say they are just as motivated by the original dream that started their business.
"Resilience is at the heart of every successful small business story," said Oliver Kardos, COO of Business Banking at KeyBank. "Behind each small business is an owner who has persevered through financial uncertainty and stayed committed to their customers and their dream. Their determination strengthens communities, powers our economy, and creates opportunities for the entrepreneurs who follow in their footsteps."
Inflation Pressure Continues, Cash Flow Improves
Inflation and rising costs remain a dominant threat for the second year running cited by 53% of owners (up from 50% in 2025).
The good news: owners are actively rebuilding their financial position with 23% saying they strengthened cash reserves and 26% saying they paid down debt this year. More than half (54%) of owners are certain they could fund one month of operating expenses from cash reserves alone (up from 33% in 2024).
As compared to last year, fewer owners are in survival mode (17%, down from 23% in 2025) and 28% are actively investing for long-term growth, an increase from 2025 (22%).
Defining and Achieving Success
For small business owners success can be found outside of the balance sheet shaped by a mix of independence, security, and legacy that fuels their resilience even in a challenging economic climate.
Independence and legacy: 51% of small business owners say freedom and autonomy define success while 34% are building something to pass down to family. Financial stability and stewardship: 46% of owners cite financial security as a core measure of success and 30% are focused on providing good jobs for their employees. "The findings in this survey reinforce what we've long known: small business owners are among the most resilient and determined leaders in our economy. They navigate uncertainty, seize opportunities and work tirelessly to turn their dreams into reality. At KeyBank, we're committed to helping these entrepreneurs achieve lasting success, strengthen their communities and create a legacy that endures for generations," said Kardos.
At Key it's our mission to ensure clients have access to the resources, insights, and financial advice so they can navigate whatever comes their way. For additional insights and resources to help your business visit KeyBank Small Business or connect with your local business banking advisors at a KeyBank branch near you.
Methodology
This survey was conducted online in August 2026 with Centiment and included 1,500 small business owners ages 18-99 from across the United States who own or operate a small-to-medium size business with an annual gross revenue of less than $10 million.
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Veteran banking executive brings more than 25 years of experience scaling retail operations, growing market share and improving client outcomes
, /PRNewswire/ -- KeyBank (NYSE: KEY) announced today that Drue Anderson has joined the company to lead Retail Banking. Anderson will guide the next stage of growth for KeyBank's retail business, with a focus on disciplined execution, client experience and the bank's long-term strategic commitments. He succeeds Kevin Sloan who is retiring from Key at the end of the year.
Anderson brings more than 25 years of leadership experience in banking to KeyBank. Most recently, he served as Divisional Director of Consumer Banking and Head of Virtual Banking at JPMorgan Chase.
Drue Anderson, KeyBank Head of Retail Banking "Drue has a proven track record of scaling retail banking operations, growing market share and delivering strong business results," said Victor Alexander, Head of Consumer Banking at KeyBank. "His deep industry experience, firsthand branch perspective and commitment to clients, teammates and communities make him ideal to help lead our Retail Banking business forward."
Earlier in his career, Anderson held leadership roles at Citibank, including regional director, sales manager and financial advisor in the company's wealth management business. In those roles, he helped deliver double-digit year-over-year balance and revenue growth multiple times.
A native of Central Illinois, Anderson lives with his family in Zionsville, Indiana. He will be based at KeyBank's Indianapolis office and will work with Sloan through the end of 2026 to support a smooth leadership transition.
"Kevin's leadership has strengthened our Retail Banking business and helped position it for continued growth," said Alexander. "We are grateful for his many contributions to our clients, teammates and communities, and wish Kevin and his family the very best."
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Envestnet Portfolio Solutions Inc. bought a new stake in shares of KeyCorp (NYSE:KEY – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 520,425 shares of the financial services provider’s stock, valued at approximately $11,996,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of Nova Scotia purchased a new stake in shares of KeyCorp in the second quarter valued at approximately $3,636,436,000. BlackRock Inc. purchased a new position in shares of KeyCorp during the 2nd quarter valued at approximately $2,039,113,000. Deutsche Bank AG purchased a new position in shares of KeyCorp during the 2nd quarter valued at approximately $380,244,000. Norges Bank acquired a new stake in KeyCorp in the 4th quarter valued at $262,688,000. Finally, North Reef Capital Management LP acquired a new stake in KeyCorp in the 1st quarter valued at $253,632,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.
Analyst Ratings Changes A number of equities analysts have weighed in on KEY shares. Morgan Stanley upped their price objective on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Argus raised shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Royal Bank Of Canada raised their price target on shares of KeyCorp from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of KeyCorp in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.
Get Our Latest Report on KEY KeyCorp Trading Down 1.2% Shares of KeyCorp stock opened at $20.23 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $22.22 and its 200-day simple moving average is $21.76. The stock has a market cap of $21.58 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.77 and a beta of 1.02. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07.
KeyCorp (NYSE:KEY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. Analysts predict that KeyCorp will post 1.83 EPS for the current fiscal year.
KeyCorp Announces Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. KeyCorp’s payout ratio is presently 47.67%.
KeyCorp Company Profile (Free Report)
KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.
KeyBank’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.
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3 Lesser-Known Quantum Plays the Market May Be Overlooking Right NowKeyCorp NYSE: KEY Chief Financial Officer Clark Khayat said the bank remains confident in its 2026 outlook as client activity, loan growth and credit quality have continued to perform constructively despite uncertainty around interest rates, tariffs and geopolitical developments.
Speaking at an investor conference, Khayat said the economic backdrop has changed substantially from expectations a year earlier, when markets anticipated rate cuts. Forward markets were instead indicating a high probability of three rate increases, he said. Even so, clients have become more comfortable operating amid shifting uncertainty, and KeyCorp continues to see healthy activity across lending and fee-based businesses.
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Loan Growth, Deposits and Margin Outlook Keysight: The AI and Defense Stock Seeing Big Price Target BoostsKhayat said KeyCorp remains confident in the midpoint of its full-year average loan growth outlook of 4% to 5%, with commercial lending potentially tracking toward the higher end of expectations. While growth has moderated from an exceptionally strong first half, the company continues to add commercial clients across its geographic footprint and industries.
Demand has been especially strong in utilities, power and renewable-energy-related lending, according to Khayat. KeyCorp has approximately $700 million to $800 million in direct data-center exposure, but he said power demand has supported broader utility and renewable lending opportunities.
Banks Are Buying Back Stock Hand Over Fist, Including These 3 NamesHigher interest rates have not yet materially reduced borrower demand, Khayat said, though he noted that three additional rate hikes could potentially begin to slow activity. The company’s net interest income and net interest margin guidance is currently relatively agnostic to rate moves, as the balance sheet has been positioned to remain broadly neutral across different rate scenarios.
KeyCorp expects average client deposits to increase by more than 2% in the second half of the year. Khayat said deposit growth has been tracking ahead of loan growth during the current quarter, supported by seasonal rebuilding in commercial operating accounts and new client relationships. Deposit costs had risen only 1 to 2 basis points so far, he added.
The company reported a 2.89% net interest margin in the second quarter and continues to target approximately 3% to 3.05% in the near term, followed by 3.25% or more next year. Khayat cited fixed-rate asset repricing, deposit balances and funding optimization as major drivers. About $9 billion of fixed assets are expected to reprice in the second half of 2026, followed by roughly $21 billion in 2027.
Technology and AI Focus Khayat, who recently assumed responsibility for technology before moving operations functions into the individual businesses they support, said KeyCorp has pursued a long-term modernization strategy for its core systems. The bank has sought to modernize selected systems annually to avoid major, concentrated technology investments, he said.
He said KeyCorp sees artificial intelligence as particularly useful in improving end-to-end client and employee processes when the underlying data and workflows are integrated. Employees have access to Microsoft Copilot tools, while the bank is also evaluating broader AI applications that could generate efficiency gains.
“The question is that expense dollars out, or is it effectively just more revenue for the same dollar of expense?” Khayat said of the potential benefits.
Clearwater Acquisition and Fee Businesses KeyCorp updated its guidance to reflect the August closing of its Clearwater acquisition, a U.K.-based firm with a European presence that had previously operated as a referral partner. The company raised its fee-income growth outlook to 4% to 5% from 3% to 4% and increased its expense outlook to about 4% from 3% to 4%.
Khayat said the transaction is expected to be roughly pre-provision net revenue neutral in the second half because of deal structure and integration costs. He expects Clearwater to contribute approximately $60 million to $70 million in revenue next year, assuming market-neutral conditions.
The bank’s investment-banking pipeline remains strong, including what Khayat described as record merger-and-acquisition pipelines. Some activity has begun to convert into completed business, although he said middle-market M&A and sponsor activity have not yet normalized.
KeyCorp also sees growth opportunities in payments and wealth management. Khayat said payments platforms have produced low-double-digit year-over-year growth, while wealth management reached a record $74 billion in assets under management during the second quarter.
Credit, Capital and 2027 Targets Credit quality remained benign and improved during the quarter, Khayat said, despite areas being monitored including commercial real estate, agriculture and consumer goods. He said nonperforming assets cited in the prior quarter appeared to be moving toward resolution, while charge-offs may come in below the company’s guidance if current trends continue.
KeyCorp expects to complete at least $1.3 billion in share repurchases this year. Khayat said its CET1 capital ratio could fall below the company’s 9.5% operating range in the quarter because of accumulated other comprehensive income effects, but management remains comfortable with that position.
He said KeyCorp is focused on organic growth rather than traditional bank acquisitions and remains incrementally more confident in its ability to achieve its target of more than 15% core return on tangible common equity by 2027, subject to market conditions. The company’s longer-term priorities include further margin improvement, fee-business growth, disciplined expense management, capital management and credit performance.
About KeyCorp (NYSE:KEY)KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Founded in 1825, KeyBank is one of the largest regional banks in the United States and provides banking and financial services to individuals, businesses, institutions and government entities.
KeyBank's consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, personal loans, credit cards and financial planning.
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Key Takeaways Major Banks face mixed effects as the Fed raises rates for the first time since 2023.Higher rates may lift NII, but rising deposit costs and weaker loan demand could limit gains.Credit risks and pressure on fixed-income portfolios could offset stronger interest income for banks. Following its two-day Federal Open Market Committee (FOMC) meeting on Wednesday, the Federal Reserve raised the federal funds rate by 25 basis points, taking the target to 3.75-4% from 3.50-3.75%. The unanimous decision marked the Fed’s first rate increase since July 2023, signaling renewed efforts to contain persistent inflationary pressures.
The rate hike has put major banking stocks, including JPMorgan (JPM - Free Report) , Bank of America (BAC - Free Report) , Citigroup (C - Free Report) , Wells Fargo (WFC - Free Report) and KeyCorp (KEY - Free Report) , in focus. Higher interest rates can influence banks’ net interest income, funding costs, loan demand and credit quality, making the Fed’s policy path particularly important for the sector.
The move comes as inflation remains above the Federal Reserve’s long-term 2% target. Higher energy prices, geopolitical tensions and resilient domestic spending have added to concerns that price pressures could remain elevated for longer.
Meanwhile, the Fed’s updated “dot plot,” which reflects policymakers’ expectations for the future path of interest rates, pointed to the possibility of another rate hike this year. Among the 18 Fed officials, 12 project two rate hikes in 2026, four expect three hikes and two anticipate one hike. The median projection suggests rates could remain unchanged in 2027 following two hikes this year, before declining by 25 basis points in 2028.
Fed's Dot Plot
Image Source: The Federal Reserve
The prospect of higher-for-longer interest rates weighed on banking stocks following the announcement. Shares of JPMorgan, Bank of America, Citigroup, Wells Fargo and KeyCorp declined yesterday. The broader banking sector also came under pressure, with the KBW Nasdaq Regional Banking Index falling 1.5% and the S&P Banks Select Industry Index declining 1.7%.
Before we discuss the implications of the Fed’s announcements on banking stocks, let us check them out in detail.
Fed Lifts Inflation & Growth ForecastsFed chairman Kevin Warsh said that the economy has strengthened but inflation remains the key challenge, prompting policymakers to act to support a timelier return to the Fed’s 2% inflation goal. The Fed noted that economic activity continues to expand at a solid pace, supported by resilient domestic spending, strong productivity growth and robust capital investment.
Against this backdrop, Fed officials modestly raised their inflation outlook. Per the latest Summary of Economic Projections, headline PCE inflation is expected to reach 3.7% in 2026, up from the 3.6% projected in June, while core PCE inflation is estimated at 3.4% compared with the prior forecast of 3.3%.
Meanwhile, the economic growth outlook improved. The U.S. economy is projected to grow 2.3% in 2026 and 2.4% in 2027 compared with the June estimates of 2.2% and 2.3%, respectively. The unemployment-rate forecast was also lowered to 4.1% for both 2026 and 2027 from 4.3% previously, reflecting a more resilient labor-market outlook.
Fed Rate Hike Brings Mixed Earnings Implications for BanksThe Fed’s renewed tightening cycle creates a mixed backdrop for banks. While higher rates can provide additional support to net interest income (NII), the benefit will depend increasingly on banks’ ability to manage deposit costs, preserve loan growth and contain credit deterioration.
On the positive side, higher rates can lift yields on floating-rate loans and newly originated assets, while improving reinvestment returns on securities portfolios. This could provide an incremental boost to NII for JPMorgan, Bank of America, Citigroup, Wells Fargo and KeyCorp, all of which had already expected NII growth in 2026. Banks with sizable low-cost deposit bases and greater pricing discipline are likely to be better-positioned to capture the upside from higher asset yields.
However, the margin benefit may be less pronounced than in the earlier stages of the tightening cycle. Depositors have become increasingly sensitive to interest rates, prompting banks to offer higher yields to retain balances. Rising deposit and wholesale funding costs could therefore absorb part of the benefit from higher loan yields and limit net interest margin expansion. The pressure could be more visible for regional banks such as KeyCorp, given their greater dependence on spread income and comparatively smaller fee-based revenue streams.
Loan demand represents another potential constraint. Higher borrowing costs can discourage households and businesses from taking on new credit, weighing on mortgage originations, commercial lending and consumer borrowing. Consequently, even if loan yields rise, weaker volume growth could limit the overall benefit to interest revenues.
Credit quality could also become a more important earnings variable if rates remain elevated for longer. Borrowers with floating-rate debt face higher debt-service burdens, particularly in commercial real estate, small-business lending and lower-income consumer categories. A pickup in delinquencies or defaults could require banks to increase provisions for credit losses, partly offsetting stronger interest income.
Higher market yields may also renew pressure on banks’ securities portfolios by reducing the fair value of fixed-income holdings. While unrealized losses do not necessarily translate into realized losses, they can constrain balance-sheet flexibility and become more relevant if banks face deposit outflows or liquidity needs.
Overall, higher interest rates could support bank revenues through stronger asset yields, but the benefit is unlikely to be uniform. Deposit pricing, loan demand, credit costs and balance-sheet composition will determine which banks are able to translate higher rates into stronger earnings growth.
CLEVELAND, Sept. 16, 2026 /PRNewswire/ -- KeyCorp (NYSE: KEY) and its banking affiliates have raised their prime lending rate to 7.00 percent from 6.75 percent, effective tomorrow, Sept.
Key Takeaways KeyCorp expects 2026 revenues to rise about 8%, with average loans growing 4-5%.NII is projected to grow 9-11%, while NIM is expected to reach 3.00-3.05% by year-end.KeyCorp sees fee income gains from payments, wealth management and stronger investment-banking activity. At the Barclays 24th Annual Global Financial Services Conference, KeyCorp’s (KEY - Free Report) chief financial officer (CFO) Clark Khayat highlighted a constructive growth outlook, with 2026 revenues now expected to increase about 8%, up from the prior guidance of 7-8% growth. He highlighted resilient client activity, strong loan growth, and continued momentum across fee-based businesses as major driving factors.
KEY’s Higher Fee Income & Clearwater Buyout to Support GrowthFee businesses remain a key growth opportunity for KeyCorp. Management expects 2026 non-interest income to grow 4-5%, up from the prior outlook of 3-4% growth. Additionally, adjusted non-interest income is now projected to increase 6-7%, higher than the previous target range of 5-6% increase. Khayat mentioned completion of the Clearwater Corporate Finance LLP acquisition in August as the primary reason for raising 2026 fee income guidance.
The Clearwater acquisition will strengthen KeyCorp’s presence in the United Kingdom and Europe. Khayat noted that the deal is expected to be roughly pre-provision net revenue (PPNR) neutral in the second half of 2026 before contributing approximately $60-$70 million of revenues in 2027.
Additionally, investment banking activity is also strengthening. The company affirmed that third-quarter investment-banking fees will rise more than 20% sequentially. This will be supported by strong client activity and record merger and acquisitions (M&A) pipelines, while management noted that M&A and financial-sponsor activity has not fully normalized.
KEY’s Loan Growth and NIM Expansion Strengthen 2026 OutlookKhayat stated that the economy remains resilient despite uncertainty surrounding interest rates, tariffs, and geopolitical developments. Client activity remains constructive, with strong loan demand, growing client relationships, and healthy fee-based business pipelines.
KeyCorp expects average loans to grow 4-5% in 2026, with average commercial loans projected to rise 8-10%. While growth is expected to moderate in the second half from strong first-half levels, demand remains broad-based across middle-market clients and industries such as utilities, power, renewables and technology.
Deposit trends are also improving, with average client deposits expected to increase more than 2% in the second half of 2026. Deposit growth is currently outpacing loan growth, while new client relationships are generating operating deposits at attractive pricing.
Driven by these factors, the company reiterated its net interest income (NII) and net interest margin (NIM) outlook for 2026. NII is expected to increase in the range of 9-11%, with NIM likely to reach 3.00-3.05% by year-end. The growth will be supported by the repricing of approximately $9 billion of fixed-rate assets in the second half, along with solid loan demand and deposit trends.
KeyCorp’s Other Line ItemsOn the expense front, adjusted non-interest expenses are now expected to increase about 4% in 2026, higher than the prior increase in the 3-4% range. Despite the company raising its expense guidance, it expects positive operating leverage as revenue growth outpaces expense growth, with AI emerging as a source of efficiency. KeyCorp has been using tools such as Copilot and evaluating end-to-end processes where AI can improve productivity, potentially allowing the bank to support additional revenue without proportional staffing growth.
Credit quality remains favorable. Credit metrics improved in the second quarter, while charge-offs are tracking below full-year guidance of 40-45 basis points. Although commercial real estate, agriculture, and consumer goods remain areas of focus, management characterized overall credit quality as benign.
Our Take on KeyCorpKeyCorp appears well positioned to sustain its growth momentum as improving business conditions and strategic investments strengthen its franchise. The company remains focused on NIM expansion, fee income growth, and disciplined expenses to drive operating leverage and support its longer-term return targets.
The company’s diversified revenue base and continued investments in technology and client capabilities should support earnings resilience and create additional long-term growth opportunities. However, an uncertain interest-rate environment and potential pressure across select credit-sensitive sectors remain key risks to the outlook.
KEY’s Price Performance & Zacks RankShares of KeyCorp have gained 16.4% in the past year compared with the industry’s growth of 31.4%.
One-Year Price Performance
Image Source: Zacks Investment Research
KeyCorp currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
How Are Other Banks Likely to Fare in Terms of Revenue Growth?PNC Financial Services (PNC - Free Report) expects strong 2026 revenue growth, supported by higher loan balances, NII growth, and continued fee-income momentum. Average loan growth is projected at approximately 12.5%, while NII is expected to increase more than 15%, with management expecting NIM to exceed 3% by year-end. This will be supported by asset repricing and loan growth. The FirstBank acquisition is also expected to contribute to NII growth.
Fee businesses, including capital markets, treasury management, cards and asset management, are expected to support growth. Hence, PNC projects total revenues to increase approximately 13% in 2026, while non-interest expenses are expected to rise about 8.5%, supporting positive operating leverage as revenue growth outpaces costs.
Citizens Financial Group (CFG - Free Report) expects 2026 revenue growth to benefit from NII growth above its initial 10-12% target, while fee income is tracking toward the upper end of its 6-8% range. Loan growth is tracking toward the upper end of 3-5% growth, while NIM is expected to be in the range of 3.22-3.27% in the fourth quarter. Moreover, capital markets, wealth management and payments are expected to drive fee-income growth.
Investments in technology, digital capabilities and AI are aimed at improving customer retention, deepening product relationships and boosting efficiency. CFG expects expenses to rise 4.5% in 2026, with a mid-50% efficiency ratio.
KeyCorp (NYSE:KEY – Get Free Report) and Nordea Bank (OTCMKTS:NRDBY – Get Free Report) are both large-cap finance companies, but which is the better stock? We will contrast the two businesses based on the strength of their valuation, analyst recommendations, earnings, dividends, profitability, risk and institutional ownership.
Profitability This table compares KeyCorp and Nordea Bank’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets KeyCorp 17.83% 11.23% 1.05% Nordea Bank 22.82% 15.18% 0.71% Earnings and Valuation This table compares KeyCorp and Nordea Bank”s revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio KeyCorp $7.60 billion 3.08 $1.83 billion $1.72 12.75 Nordea Bank $23.46 billion 2.96 $5.48 billion $1.61 12.67 Nordea Bank has higher revenue and earnings than KeyCorp. Nordea Bank is trading at a lower price-to-earnings ratio than KeyCorp, indicating that it is currently the more affordable of the two stocks.
Volatility & Risk KeyCorp has a beta of 1.02, meaning that its share price is 2% more volatile than the S&P 500. Comparatively, Nordea Bank has a beta of 0.63, meaning that its share price is 37% less volatile than the S&P 500.
Analyst Recommendations This is a breakdown of current ratings and recommmendations for KeyCorp and Nordea Bank, as provided by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score KeyCorp 0 7 12 1 2.70 Nordea Bank 1 3 2 1 2.43 KeyCorp presently has a consensus target price of $49.14, suggesting a potential upside of 124.01%. Given KeyCorp’s stronger consensus rating and higher possible upside, research analysts clearly believe KeyCorp is more favorable than Nordea Bank.
Dividends KeyCorp pays an annual dividend of $0.82 per share and has a dividend yield of 3.7%. Nordea Bank pays an annual dividend of $0.35 per share and has a dividend yield of 1.7%. KeyCorp pays out 47.7% of its earnings in the form of a dividend. Nordea Bank pays out 21.7% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years.
Institutional & Insider Ownership 79.7% of KeyCorp shares are held by institutional investors. Comparatively, 0.0% of Nordea Bank shares are held by institutional investors. 0.6% of KeyCorp shares are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.
Summary KeyCorp beats Nordea Bank on 11 of the 16 factors compared between the two stocks.
About KeyCorp (Get Free Report)
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses. It also provides a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans to consumer, energy, healthcare, industrial, public sector, real estate, and technology sectors for middle market clients. In addition, the company offers community development financing, securities underwriting, brokerage, and investment banking services. The company was founded in 1849 and is headquartered in Cleveland, Ohio.
About Nordea Bank (Get Free Report)
Nordea Bank Abp offers banking products and services in Sweden, Finland, Norway, Denmark, and internationally. It operates through Personal Banking, Business Banking, Large Corporates & Institutions, and Asset & Wealth Management segments. The Personal Banking segment provides various financial services to customers through mobile banking, over the phone, online meetings, and branch offices. The Business Banking segment offers payments, cash management, cards, working capital management, and cards and finance solutions to corporate and personal customers. The Large Corporates & Institutions segment provides financing, cash management and payment, investment banking, capital market products, and securities services to corporate and institutional customers. The Asset & Wealth Management segment offers investment, savings, and risk management solutions to high net worth individuals and institutional investors. It also offers account-based products, such as lending and deposit; project finance services, asset-based financing through leasing, hire purchase, and factoring, as well as sales to finance partners, such as dealers, vendors, and retailers; financial instruments or arrangement for financial instruments, including currencies, commodities, stocks, and bonds; and asset management, including investment funds, discretionary management, portfolio advice, equity trading, and pension accounts, as well as life insurance and pension products and services. Nordea Bank Abp was founded in 1820 and is headquartered in Helsinki, Finland.
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, /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that Clark Khayat, Chief Financial Officer, will present at the Barclays Global Financial Services Conference on Monday, September 14, 2026, at 2:45 p.m. ET.
KeyCorp plans to review its performance, strategy, and outlook, and the discussion may include forward-looking statements and other material information. The live audio webcast will be available on the day of the conference at www.key.com/ir. If you are unable to join the live webcast, or wish to hear a re-broadcast, access www.key.com/ir and select Events & Presentations.
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Key Takeaways KEY's first-half 2026 revenues rose 8.4% as NII and commercial lending growth strengthened.KeyCorp's NII increased 10.3%, while management raised its 2026 average loan-growth outlook to 4-5%.KEY's investment banking fees rose 4%, with elevated pipelines and Clearwater UK supporting future growth. KeyCorp’s (KEY - Free Report) organic growth has been supported by steady lending activity and a growing fee-income base. Though tax-equivalent revenues declined in 2022, 2023, and 2024, the metric witnessed a five-year (2020-2025) compound annual growth rate (CAGR) of 2.3%. The metric rose 8.4% year over year to $3.92 billion in the first six months of 2026, reflecting improving asset yields, lower funding costs, and continued commercial loan growth. The Zacks Consensus Estimate for 2026 revenues of $8.03 billion implies 7.4% growth from 2025, while the 2027 estimate of $8.49 billion suggests another 5.7% increase.
Sales Estimates
Image Source: Zacks Investment Research
KEY’s Strong NII Growth and Commercial Lending MomentumKeyCorp's revenue growth in the first half of 2026 was primarily supported by strong net interest income (NII) growth and continued momentum in commercial lending. The company also continued to reposition its balance sheet by reinvesting proceeds from maturing low-yielding investment securities and fixed-rate swaps into higher-yielding assets, improving overall earning-asset yields. Further, steady growth in commercial and industrial loans expanded KeyCorp's interest-earning asset base. At the end of the first half of 2026, average loans were $217.8 billion, up 3.7% year over year, primarily driven by an increase in average commercial loans, while average deposits totaled $294.9billion, down marginally. Taxable-equivalent (TE) NII increased 10.3% year over year to $2.49 billion in the first six months of 2026, benefiting from lower deposit costs and proactive deposit pricing, which reduced funding costs. TE NIM expanded to 2.88% in the first half of 2026 from 2.62% in the prior-year period, reflecting the benefits of improving earning-asset yields and lower funding costs.
KeyCorp's NII and NIM Continue to Expand
Image Source: KeyCorp
Following an impressive first-half performance, management now expects 2026 average loans to grow in the range of 4-5%, up from the prior 2-4% growth range. The company projects average commercial loans to increase 8-10% this year, supported by broad-based commercial lending growth, stronger pipelines and higher line utilization.
Hence, driven by favorable loan and deposit trends and a strong start to the year, management expects NII (TE) to rise 9-11% in 2026, while targeting a 3.00-3.05% NIM exiting the year and average earning assets growing $1-$2 billion from the second quarter level.
KEY's Expansion of Priority Fee-Based BusinessesKeyCorp's continued investment in priority fee-generating businesses supported revenue growth in the first half of 2026. Wealth management, commercial payments, and other corporate and consumer fee businesses benefited from continued client activity and the expansion of product offerings. Higher trust and investment services income was supported by growth in client assets and favorable market conditions. Cards and payments and corporate services generated additional transaction- and service-based revenues. Investment banking also remained an important contributor to fee-based revenue growth, with investment banking and debt placement fees increasing 4% year over year to $366 million in the first half of 2026, despite a 5.1% decline in the second quarter. Investment banking pipelines increased 9% sequentially in the second quarter and remained at historically elevated levels, supported by record M&A and debt capital markets pipelines.
The acquisition of Clearwater UK further strengthens KeyCorp's middle-market M&A advisory capabilities and expands its ability to serve U.S. and European corporate and private equity clients. Improving deal activity, strong client engagement, and contributions from Clearwater UK are expected to support investment banking revenues going forward, with management expecting third-quarter investment banking fees to increase more than 20% sequentially.
These businesses helped offset the cyclicality of traditional lending revenues and contributed to the 5.2% year-over-year increase in non-interest income to $1.43 billion in the first half of 2026. Growth in KeyCorp's priority fee businesses highlights their increasing contribution to a more diversified revenue mix.
Management expects investment banking fees to grow at a mid-single-digit rate in 2026, with quarterly fees expected at $175-$180 million for the remainder of the year. Also, adjusted non-interest income is expected to increase 5-6% in 2026, reflecting continued momentum across its priority businesses and supporting a more diversified and recurring revenue base.
KEY’s Price Performance & Zacks RankIn the past year, KEY shares have rallied 14.0% compared with the industry’s 30.7% growth.
One-Year Price Performance
Image Source: Zacks Investment Research
Currently, KeyCorp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Are KEY’s Peers Faring in Terms of Revenues?Fifth Third Bancorp (FITB - Free Report) has been expanding and diversifying its revenue base through strategic acquisitions and growth in fee-based businesses. The acquisition of Comerica in February 2026 broadened its presence across 17 of the 20 fastest-growing large U.S. markets, while DTS Connex and the Eldridge partnership strengthened its commercial payments and private credit offerings. Historically, Fifth Third's non-interest income recorded a three-year CAGR of 3.1% during 2022-2025, reflecting the company's continued focus on building its fee-based businesses.
Going forward, growth in wealth and asset management, commercial payments and capital markets is expected to support fee income. Management expects 2026 non-interest income of $4.06-$4.16 billion, compared with $3.06 billion in 2025, supporting continued revenue growth. Meanwhile, the expanded presence, broader deposit base, and lending opportunities resulting from the Comerica acquisition, along with expansion in high-growth markets, are expected to support NII and overall top-line growth.
M&T Bank (MTB - Free Report) has demonstrated solid revenue growth, with total revenues recording a 7.8% CAGR during 2018-2025. NII and non-interest income also grew at CAGRs of 7.9% and 3.9%, respectively, over the same period, with the positive trend continuing in the first half of 2026.
Going forward, higher NII, supported by loan growth and stable funding costs, along with growth in treasury management, capital markets, mortgage banking and trust services, is expected to support revenues. Management expects 2026 NII of $7.2-$7.35 billion and fee income of $2.8-$2.85 billion. Continued growth in lending and fee-based businesses is expected to support M&T Bank’s top-line performance.
, /PRNewswire/ -- KeyCorp (NYSE:KEY) announced that Chris Doll has joined Key as Chief Strategy Officer & Deputy CFO, effective Aug. 31, 2026.
"I am very pleased to welcome Chris to Key," said Clark Khayat, Chief Financial Officer and Head of Technology at KeyCorp. "Chris brings a strong track record of leadership, deep financial expertise, and a results-oriented approach that will help advance our strategic priorities. His ability to align strategy, financial discipline, and execution will be instrumental as we continue to drive long-term growth and create value for our stakeholders."
Chris joins Key from City National Bank, a wholly owned subsidiary of Royal Bank of Canada, where he served as Executive Vice President and Chief Financial Officer. Prior to joining City National, he served in a variety of leadership roles with firms such as Fifth Third Bancorp, Omnicare, and First Financial Bancorp. Chris brings a proven track record of enhancing financial performance, capital planning, strategic transformation, and investor engagement.
"I am excited to join Key as we focus on the next phase of profitable growth amidst an increasingly complex environment," said Chris Doll. "Key has a strong client-focused culture, a talented team, and a clear strategic vision. I look forward to partnering with colleagues across the organization to help drive disciplined growth, create value for our shareholders, and support the long-term success of the company."
Chris will serve as a member of Key's Finance leadership team and Executive Council, reporting to Clark Khayat. In this role, he will lead Key's corporate strategy team and help guide the execution of the company's strategic priorities.
About KeyCorp
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Keyera Corp. (TSE:KEY – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is C$62.69.
A number of research firms recently issued reports on KEY. BMO Capital Markets lifted their price objective on Keyera from C$60.00 to C$65.00 in a research report on Tuesday, June 16th. TD set a C$68.00 target price on Keyera and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Raymond James Financial cut their price target on Keyera from C$66.00 to C$65.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Jefferies Financial Group set a C$65.00 price target on Keyera and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada boosted their price target on Keyera from C$62.00 to C$66.00 and gave the company an “outperform” rating in a research note on Monday, August 10th.
Check Out Our Latest Stock Analysis on Keyera
Keyera Stock Up 1.1% KEY stock opened at C$59.54 on Friday. Keyera has a 12-month low of C$40.09 and a 12-month high of C$61.41. The company has a quick ratio of 0.57, a current ratio of 1.22 and a debt-to-equity ratio of 160.65. The company has a market cap of C$17.47 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 1.35 and a beta of 0.48. The company has a 50 day moving average of C$58.31 and a two-hundred day moving average of C$54.84. Keyera (TSE:KEY – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$1.19 EPS for the quarter. Keyera had a net margin of 5.02% and a return on equity of 10.81%. The business had revenue of C$2.40 billion for the quarter. On average, equities analysts anticipate that Keyera will post 2.2166667 earnings per share for the current fiscal year.
Keyera Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.54 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. Keyera’s payout ratio is 141.18%.
Keyera Company Profile (Get Free Report)
Keyera is a midstream energy business that operates primarily out of Alberta, Canada. Its primary lines of business consist of the gathering and processing of natural gas in western Canada, the storage, transportation, and liquids blending for NGLS and crude oil, and the marketing of NGLs, iso-octane, and crude oil. The firm currently has interests in about a dozen active gas plants and operates over 4,000 km of pipelines.
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BlackRock Inc. acquired a new position in shares of KeyCorp (NYSE:KEY – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,464,784 shares of the financial services provider’s stock, valued at approximately $2,039,113,000. BlackRock Inc. owned about 8.29% of KeyCorp at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in KEY. Pallas Capital Advisors LLC bought a new stake in shares of KeyCorp during the second quarter worth about $305,000. Deutsche Bank AG acquired a new position in KeyCorp during the 2nd quarter valued at about $380,244,000. Perigon Wealth Management LLC acquired a new position in KeyCorp during the 2nd quarter valued at about $215,000. Commerzbank Aktiengesellschaft FI bought a new stake in KeyCorp during the 2nd quarter worth approximately $235,000. Finally, Trust Co. of Vermont bought a new stake in KeyCorp during the 2nd quarter worth approximately $44,000. 79.69% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In Several analysts have recently commented on KEY shares. Wall Street Zen downgraded KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. DA Davidson reiterated a “buy” rating and set a $28.00 price target on shares of KeyCorp in a report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of KeyCorp in a research report on Friday, August 7th. UBS Group increased their price target on KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Susquehanna lifted their price objective on shares of KeyCorp from $300.00 to $415.00 and gave the stock a “positive” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.14.
Check Out Our Latest Stock Analysis on KEY KeyCorp Price Performance KeyCorp stock opened at $22.07 on Thursday. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07. The company’s 50 day moving average price is $22.93 and its two-hundred day moving average price is $21.79. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.63. The stock has a market cap of $23.56 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.75 and a beta of 1.03.
KeyCorp (NYSE:KEY – Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.KeyCorp’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, equities analysts predict that KeyCorp will post 1.83 earnings per share for the current year.
KeyCorp Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 annualized dividend and a yield of 3.7%. KeyCorp’s payout ratio is currently 47.67%.
KeyCorp announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
KeyCorp Profile (Free Report)
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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Buckland Partners Management Co LLC acquired a new position in shares of KeyCorp (NYSE:KEY – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 40,000 shares of the financial services provider’s stock, valued at approximately $922,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KEY. BlackRock Inc. acquired a new stake in KeyCorp during the 2nd quarter valued at approximately $2,039,113,000. Wellington Management Group LLP increased its position in shares of KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares during the period. Deutsche Bank AG acquired a new stake in shares of KeyCorp during the second quarter worth $380,244,000. Norges Bank bought a new position in KeyCorp during the fourth quarter worth $262,688,000. Finally, North Reef Capital Management LP bought a new position in KeyCorp during the first quarter worth $253,632,000. 79.69% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of analysts have weighed in on KEY shares. TD Cowen reiterated a “buy” rating and set a $68.00 price target on shares of KeyCorp in a report on Tuesday, June 23rd. DA Davidson reissued a “buy” rating and issued a $28.00 price objective on shares of KeyCorp in a research note on Wednesday, July 22nd. Evercore restated an “outperform” rating on shares of KeyCorp in a research report on Tuesday, April 21st. Robert W. Baird raised their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.14.
View Our Latest Stock Analysis on KeyCorp KeyCorp Trading Down 1.1% Shares of KeyCorp stock opened at $23.06 on Tuesday. The stock has a market capitalization of $24.61 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. KeyCorp has a 52 week low of $16.47 and a 52 week high of $24.07. The stock has a 50 day moving average price of $22.92 and a two-hundred day moving average price of $21.77. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84.
KeyCorp (NYSE:KEY – Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. KeyCorp’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts anticipate that KeyCorp will post 1.83 earnings per share for the current fiscal year.
KeyCorp announced that its board has authorized a share buyback program on Wednesday, May 13th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 13% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
KeyCorp Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.82 annualized dividend and a dividend yield of 3.6%. KeyCorp’s payout ratio is presently 47.67%.
KeyCorp Profile (Free Report)
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
, /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that it has provided notice of its intention to redeem all 525,000 depositary shares each representing a 1/25th ownership interest in a share of its issued and outstanding Series D Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock (CUSIP No. 493267AK4) (the "Preferred Stock") on September 15, 2026.
There are 525,000 depositary shares representing 21,000 shares of Preferred Stock, with an aggregate liquidation preference of $525,000,000, currently outstanding. The Preferred Stock will be redeemed for cash at the redemption price of $25,312.50 per share ($1,012.50 per depositary share), which equals the liquidation preference of $25,000 per share ($1,000 per depositary share) plus accumulated and unpaid dividends and distributions through the redemption date. All shares of the Preferred Stock are held in book-entry form through the Depository Trust Company ("DTC") and will be redeemed in accordance with the procedures of DTC. Upon redemption, the Preferred Stock will no longer be outstanding and all rights with respect to such stock will cease and terminate, except the right to payment of the redemption price.
Computershare, KeyCorp's transfer agent, will serve as the redemption agent. Computershare is located at 250 Royall Street, Canton, MA 02021.
About KeyCorp
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts. Forward-looking statements usually can be identified by the use of words such as "goal," "objective," "plan," "expect," "assume," "anticipate," "intend," "project," "believe," "estimate," or other words of similar meaning. Forward-looking statements provide our current expectations or forecasts of future events, circumstances, results, or aspirations. Forward-looking statements, by their nature, are subject to assumptions, risks and uncertainties, many of which are outside of our control. Our actual results may differ materially from those set forth in our forward-looking statements. There is no assurance that any list of risks and uncertainties or risk factors is complete. Factors that could cause Key's actual results to differ from those described in the forward-looking statements can be found in KeyCorp's Form 10-K for the year ended December 31, 2025, and in KeyCorp's subsequent SEC filings, all of which have been or will be filed with the Securities and Exchange Commission (the "SEC") and are or will be available on Key's website (www.key.com/ir) and on the SEC's website (www.sec.gov). These factors may include, among others, adverse changes in credit quality trends, declining asset prices, a worsening of the U.S. economy due to financial, political, or other shocks, the extensive regulation of the U.S. financial services industry, the soundness of other financial institutions, and the impact of changes in the interest rate environment. Any forward-looking statements made by us or on our behalf speak only as of the date they are made and we do not undertake any obligation to update any forward-looking statement to reflect the impact of subsequent events or circumstances.
KeyCorp preferred shares offer stable dividend coverage and strong capital adequacy, but high duration risk tempers new allocation appeal. KEY.PR.J and KEY.PR.K, trading at discounts to par, presents better relative value and yield versus other fixed-rate series, mitigating call risk. The floating-rate KEY.PR.I has higher call risk due to its impending coupon reset, while the issue is already trading at par, making new allocations less attractive.
KeyBank survey finds resilient businesses are widening the gap between company and economic confidence by investing in AI, talent and long-term growth
, /PRNewswire/ -- Middle market companies continue to invest despite growing economic uncertainty, according to the latest edition of KeyBank's Middle Market Sentiment Report. For the second consecutive survey, 77% of executives rate their company's financial outlook as excellent or very good, even as confidence in the broader U.S. economy remained relatively flat at 51%.
Rather than waiting for economic conditions to improve, companies continue investing in the capabilities they believe will drive long-term growth, including AI, workforce development, and M&A. The findings reinforce a broader trend emerging across recent editions of the report: resilient companies are doubling down on investments they can control, even as macroeconomic uncertainty persists.
"The defining characteristic of today's middle market isn't simply confidence—it's resilience," said Ken Gavrity, President, Key Commercial Bank. "They've shown the ability to be dynamic in the face of fairly substantial macro shocks, and they trust their ability to allocate capital toward investments they believe will create long-term value, regardless of short-term volatility."
Companies Continue Investing Through Uncertainty
Confidence is translating into action. Companies with a positive business outlook are significantly more likely to seek additional capital to fund growth than their more cautious peers— a 26-point gap. At the same time, reliance on private equity has moderated across recent editions of the report, no longer the top choice for capital investment.
Rather than pursuing broad expansion, companies are increasingly directing capital toward investments that strengthen core capabilities and long-term competitiveness, with Manufacturing joining Technology as the most optimistic industry for growth.
AI Is Moving from Experimentation to Execution
The evolution of AI investment is one of the clearest examples of how middle market priorities have shifted.
More than half (54%) of middle market companies now identify AI and technology expansion as their top capital investment priority for 2026. Across recent editions of KeyBank's Middle Market Sentiment Report, AI has evolved from an emerging technology discussion centered on cybersecurity and fraud prevention to a core business strategy focused on improving operations, productivity and decision-making.
Technology and Talent Are Advancing Together
Companies are investing in people alongside technology to maximize the value of AI.
The report finds reskilling existing employees and hiring AI talent are becoming increasingly important workforce priorities, reflecting a growing recognition that technology investments deliver the greatest impact when paired with the right talent and capabilities.
Long-Term Growth Plans Remain Intact
While companies have become more measured in the timing of acquisitions, long-term growth ambitions remain intact. Buy-side M&A activity is expected to strengthen throughout 2027 and 2028, particularly among technology companies, larger firms and organizations led by CFOs and CEOs with active acquisition strategies.
Cybersecurity also remains a consistent investment priority regardless of business outlook, underscoring its role as foundational to future growth as AI adoption accelerates.
Read the full Q2 2026 KeyBank Middle Market Sentiment Report for additional trend analysis, industry-specific findings and complete survey methodology.
Key Findings
77% of middle market executives rated their company's financial outlook as excellent or very good for the second consecutive survey. Confidence in the U.S. economy declined from 53% in Q2 2025 to 51%, widening the confidence gap from 19 percentage points to 26 percentage points. 54% of companies identified AI and technology expansion as their top capital investment priority for 2026. Companies with a positive business outlook are significantly more likely to seek additional capital to fund growth than their more cautious peers— a 26-point gap. Long-term M&A expectations remain strong throughout 2027 and 2028, particularly among larger and technology-focused companies. About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Key Takeaways KeyCorp completed the acquisition of Clearwater UK, expanding into the Western European market. KEY strengthens its middle-market M&A capabilities and cross-border advisory opportunities. KeyCorp expects the acquisition to support investment banking fees and broader fee-based revenue growth. KeyCorp (KEY - Free Report) recently completed the acquisition of Clearwater Corporate Finance LLP ("Clearwater UK"), a UK-based middle-market investment banking advisory firm. The transaction marks another step in expanding the company's advisory business and establishes its presence in the Western European market.
Building on a collaboration between KeyBanc Capital Markets and Clearwater UK that began in 2020, the acquisition strengthens KeyCorp's middle-market M&A capabilities and enhances opportunities to serve U.S. and European corporate and private equity clients. Clearwater UK advises clients across 10 industry sectors through offices in London, Birmingham, Leeds and Manchester.
The acquisition complements KeyCorp's strategy of expanding its investment banking franchise and growing fee-based businesses. In the first six months of 2026, its total revenues increased 8.4% year over year to $3.92 billion, while non-interest income rose 5.2% to $1.43 billion, reflecting continued momentum across fee-generating businesses. Management expects adjusted non-interest income to grow 5-6% in 2026, driven by sustained growth in its priority businesses.
Image Source: Zacks Investment Research
Although second-quarter investment banking and debt placement fees declined 5.1% year over year to $169 million, the metric increased 4% in the first half of 2026 to $366 million. Investment banking pipelines increased 9% sequentially in the second quarter and remain at historically elevated levels, supported by record M&A and debt capital markets pipelines.
While middle-market M&A activity is yet to normalize, management continues to see strong client engagement. Management expects 2026 investment banking fees to grow at a mid-single-digit rate, with third-quarter investment banking fees projected to increase more than 20% sequentially, supported by improving deal activity and the Clearwater UK acquisition.
KEY’s Price PerformanceOver the past six months, shares of KeyCorp have gained 0.3%, underperforming the industry's 9.9% growth.
Image Source: Zacks Investment Research
At present, KeyCorp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Business Restructuring Steps Taken by Other Financial FirmsEarlier this week, Hancock Whitney Corporation (HWC - Free Report) completed its previously announced acquisition of OFB Bancshares, Inc., the parent company of One Florida Bank, in an all-cash transaction valued at $377.6 million.
The deal expands HWC’s presence in key Florida markets and reflects its strategy of strengthening its franchise through targeted acquisitions, expanding its customer base and enhancing long-term growth opportunities. The acquisition also broadens Hancock Whitney's commercial banking footprint and is expected to generate earnings accretion, cost savings and additional revenue opportunities over time.
Likewise, HSBC Holdings plc (HSBC - Free Report) announced the sale of its retail banking businesses in Egypt and Australia as part of its broader simplification and restructuring strategy.
The transactions reflect HSBC’s focus on streamlining operations, exiting businesses where it lacks sufficient scale, redeploying capital to higher-return opportunities, and strengthening its core corporate and institutional banking, wealth management and wholesale banking franchises. The moves are expected to support HSBC's target of delivering approximately $1.5 billion in annualized cost savings and achieving at least a 17% return on average tangible equity by 2028.
Milestone marks three years of rewarding client loyalty through industry-leading cash bonuses and transparent banking tools
, /PRNewswire/ -- KeyBank (NYSE: KEY) today marks the third anniversary of Key Select Checking®, the interest-bearing checking account designed to reward clients for the direct deposits they make to their account. Since its launch three years ago, KeyBank has paid out nearly $7 million in annual cash bonuses to qualifying Key Select Checking clients.
KeyBank’s branch in West Valley City, Utah "Three years ago, we set out to build a checking account that rewards clients for banking with Key," said Josh Miller, Head of Consumer Acquisition Marketing & Product. "Today's milestone is a testament to the trust our clients have placed in us and to our commitment in making their financial lives simpler and more rewarding."
A Checking Account Built Around the Client
Key Select Checking was built on a straightforward premise: clients who maintain their banking relationship with KeyBank should be rewarded for it. The account is interest-bearing, meaning balances earn a variable interest rate that is compounded daily, in addition to the annual $100 cash bonus¹.
The account can be opened online in approximately five minutes and comes with a suite of features designed for everyday banking, including:
Fee-free ATM access² at more than 40,000 KeyBank and Allpoint® ATMs nationwide ATM fee rebates³ of up to $6 per statement cycle for cash withdrawals from out-of-network ATMs Early Pay⁴: qualifying clients with direct deposit may receive their pay up to two days early Key Coverage Zone®⁵ — no overdraft fee from KeyBank if an account is overdrawn by $20 or less at the end of the day No-cost check options, with customized and designer options available for a fee The $25 monthly maintenance fee is waived for the first three statement cycles⁶ for all new accounts, giving clients a seamless start. After that, the fee is waived when clients maintain $3,000 per statement cycle in eligible direct deposits or carry at least $15,000 in combined KeyBank account balances.
Earning the $100 Annual Cash Bonus¹
The centerpiece of Key Select Checking is a $100 annual cash bonus available to clients who meet straightforward direct deposit requirements. Here is how it works:
After opening an account, clients enter an Evaluation Period, a 12-month-calendar window, that begins on the first day of the second full month following account opening. Clients must deposit at least $60,000 in eligible direct deposits over the course of that evaluation period (12 months) to be eligible for the $100 annual bonus At least one eligible direct deposit must be received during the final two calendar months of the evaluation period. Clients who meet these requirements earn the $100 cash bonus, year after year. For clients who regularly direct deposit their paycheck or other recurring income, the requirements are straightforward to achieve, and the bonus resets each year, making Key Select Checking a genuinely recurring financial reward.
The Bonus Tracker: Putting Clients in Control
Last summer, KeyBank launched the Key Select Checking Bonus Tracker, a feature available through the KeyBank mobile app and online banking that gives clients real-time visibility into their progress toward the annual $100 cash bonus.
The Bonus Tracker displays the total amount of eligible direct deposits made to date, as well as the start and end dates of the client's current evaluation period — so clients can check their bonus status at any time, without having to call or visit a branch.
"Transparency matters to our clients," said Miller. "The Bonus Tracker is a natural extension of our commitment to putting clients in control of their money. By allowing clients to understand their progress and see where they stand in real time; they can stay informed and potentially make smarter decisions with regard to their finances."
In its first year, the Bonus Tracker has become one of the most-used features within the Key Select Checking experience, reflecting client demand for clear, actionable financial information at their fingertips.
Three Years of Growing Client Value
Since launch, Key Select Checking has achieved significant milestones that reflect growing client adoption and satisfaction:
Nearly $7 million in total annual bonuses paid out to qualifying clients Consistent year-over-year account growth driven by client referrals and KeyBank's expanding digital banking presence These figures underscore KeyBank's broader mission to help clients achieve financial wellness through products that deliver real, tangible value — not just attractive introductory offers.
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
CFMA 260727-4780178
1 Key Select Checking Account is an interest-bearing account. Annual Percentage Yields (APY) are accurate as of July 24, 2026, for zip code 44114. 0.05% APY applies to balances of $0.00-$2,499.99, 0.05% APY on balances $2,500-$4,999.99, 0.05% APY on balances $5,000-$9,999.99, 0.05% APY on balances $10,000-$24,999.99, 0.05% APY on balances $25,000-$49,999.99, 0.05% APY on balances $50,000-$99,999.99, 0.05% APY on balances $100,000-$249,999.99, 0.05% APY on balances $250,000-$499,999.99, 0.05% APY on balances $500,000-$999,999.99, 0.05% APY on balances $1,000,000 and above. Key Select Checking Account is a variable rate account, rates may vary. Rates and terms may change at the bank's discretion. Minimum balance to open this account is $50. Fees may reduce earnings.
EVALUATION PERIOD DEFINITIONS
New Key Select Checking Account: Your account will be reviewed for eligible deposits during the 12 calendar months following the first calendar day of the second full month after account opening. $100 BONUS
Direct Deposits: To qualify for the $100 bonus, ALL of the following three requirements must be met. Eligible direct deposits: Must total at least $60,000 during the Evaluation Period. Are electronic automated clearing house (ACH) deposits. Examples of eligible direct deposits include, but are not limited to: payroll, Social Security, pension and government benefits. Deposits made through a teller, ATM, or the KeyBank mobile app are ineligible direct deposits. At least one eligible direct deposit transaction (in any amount) must be received within the final two calendar months at the end of the Evaluation Period. Your account will be reviewed at the end of each Evaluation Period for cash bonus eligibility. Eligibility is based on cumulative direct deposits in the preceding Evaluation Period. Your $100 bonus will be reported to the IRS on Form 1099-INT. Your $100 bonus will be deposited into your checking account within 30 calendar days after the Evaluation Period has expired. If your account is converted into an account type other than a Key Select Checking Account during the Evaluation Period, progress toward the cash bonus is forfeited. Accounts that are closed or in a legally dormant status (legally dormant status is determined by applicable state law) at the end of the Evaluation Period or at the time of the bonus payout are not eligible for the bonus payment.
2 There is no surcharge at KeyBank ATMs. There is also no surcharge at Allpoint ATMs when you use a KeyBank debit card linked to an eligible account. Ineligible accounts include Hassle‑Free Account®, savings accounts, and business accounts.
3 There is no KeyBank fee if you use another bank's ATM. However, a fee may be charged by the bank that owns the ATM. This fee, as well as any additional non-KeyBank charges or surcharges, will be included with the total withdrawal transaction amount. Your account will receive a refund of other bank's ATM cash withdrawal surcharges when the withdrawals are made with any KeyBank Debit Mastercard®. The surcharge refund will be credited to your account at statement cycle and will not exceed a total refund of $6.00 per statement cycle. If you close your account or change your account type before the end of the statement cycle, other bank's ATM cash withdrawal surcharges will not be reimbursed.
4 Early Pay is a service included with your KeyBank consumer deposit account in which KeyBank makes your eligible direct deposits available up to two business days early. Eligible direct deposits include certain transactions such as payroll, government benefits, or similar types of payments. The Early Pay service is dependent on when KeyBank receives information from the payer that the funds are on the way, this could vary, and you may not always receive your funds early. You cannot opt out of Early Pay.
5 Overdraft Item Charges are $20 per item. Charges apply to transactions created by check, in-person withdrawal, recurring debit card transactions, or other electronic means. Overdraft charges will not be imposed on ATM withdrawals or one-time debit card items unless the customer has opted in authorizing Key to pay these items into overdraft and assess a charge. You agree to pay us the full amount of any overdraft on your Account immediately upon demand, together with any additional charges we assess. KeyBank's approval of overdrafts is a discretionary courtesy. For Consumer accounts: No charges will be assessed when the account is overdrawn twenty ($20) dollars or less at the end of the day. Overdraft charges are assessed on up to three (3) items per day, with the maximum not to exceed $60 per day per account. Overdraft charges may not post on the same day as the transaction which triggers the fee(s). There is a cap of 20 assessed overdraft charges within a monthly statement period. If at the end of the day, your account's overdrawn available balance is more than $20 for 5 consecutive business days, an additional $20 Recurring Overdraft Service Charge will be assessed. See your accounts Personal Checking Account Fees and Disclosures for additional information and Personal Savings Overdraft Protection Agreement for further information on linking savings account for protection.
6 $25 monthly maintenance fee (waived for the first 3 months). After the three (3) month grace period the monthly maintenance fee can be avoided if either of the requirements are met in a statement cycle:
The combined balance in any combination of KeyBank checking, savings, certificates of deposit, retirement deposit, and Key Investment Services LLC (KIS) accounts was $15,000 or more during the statement cycle. OR
You have eligible direct deposits totaling at least $3,000 during each statement cycle. Investment products are offered through Key Investment Services LLC (KIS), member FINRA/SIPC and SEC-registered investment advisor.
Insurance products are offered through KeyCorp Insurance Agency USA, Inc. (KIA). KIS and KIA are non-bank affiliates of KeyBank National Association (KeyBank).
Non-Deposit products are:
NOT FDIC INSURED•NOT BANK GUARANTEED•MAY LOSE VALUE•NOT A DEPOSIT•NOT INSURED BY ANY FEDERAL OR STATE GOVERNMENT AGENCY
KIS, KIA and KeyBank are separate entities, and when you buy or sell securities and insurance products you are doing business with KIS and/or KIA, and not KeyBank.
, /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that it has completed its previously-announced acquisition of Clearwater Corporate Finance LLP ("Clearwater UK"), a leading UK-based middle market investment banking advisory firm.
"Completing this acquisition marks an important step in expanding our global advisory platform," said Randy Paine, President of Key Institutional Bank. "Clearwater UK's strong middle-market expertise and sector depth will help us better serve clients with more comprehensive, cross-border advice and execution."
About Clearwater UK
Clearwater UK focuses on providing corporate finance advice for mid-market transactions including M&A, private equity and debt advisory. Across its ten sectors covering automotive, business services, consumer, energy and utilities, financial services, food and beverage, healthcare, industrials and chemicals, real estate, and tech, as well as its debt advisory and private equity specialists, the team provides in-depth knowledge and industry experience to every project. The UK business has offices in Birmingham, London, Leeds and Manchester.
About KeyCorp
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
, /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced plans to host conference calls to review quarterly financial results on the following dates:
First quarter 2027 – Tuesday, April 20, 2027, at 8 a.m. ET Second quarter 2027 – Tuesday, July 20, 2027, at 8 a.m. ET Third quarter 2027 – Wednesday, Oct. 20, 2027, at 8 a.m. ET Fourth quarter 2027 – Thursday, Jan. 20, 2028, at 8 a.m. ET The financial results are scheduled to be released before the market opens on the dates noted above. The conference call live audio webcast and presentation materials will be available at www.key.com/ir. If you are unable to join any of the live conference calls, or wish to hear a re-broadcast, access www.key.com/ir and select Quarterly Earnings Results.
ABOUT KEYCORP
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $191 billion at June 30, 2026.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
The maximum Social Security benefit for a worker who claims at age 70 in 2026 lands near $61,000 per year, thanks in part to the 2.8% cost-of-living adjustment that took effect this year. That figure is the target. Replacing it with dividend income, so you either delay claiming, stop working, or supplement a smaller check, comes down to one equation: annual income divided by portfolio yield equals the capital you need. The answer looks very different at 3.5% than it does at 10%.
Here is what that math produces across three yield tiers, and what you give up at each one.
The Conservative Tier: 3% to 4% Yield At a 3.5% blended yield, you need roughly $1.74 million invested to throw off $61,000 a year. This is the dividend-growth zone: Dividend Kings, broad dividend ETFs, and quality blue chips.
Johnson & Johnson (NYSE:JNJ | JNJ Price Prediction) currently yields around 2.1% after a bump to $1.34 per quarter and 64 consecutive years of raises. Procter & Gamble (NYSE:PG) pays roughly 2.9% on the back of its $1.0885 quarterly dividend. Coca-Cola (NYSE:KO) sits at about 2.5% with a $0.53 quarterly payout. Blending these with a higher-yielding sleeve of broad dividend ETFs (0.35% expense ratio) gets you into the 3% to 4% range.
The tradeoff is capital intensity. You need the most money upfront. In exchange, the principal typically appreciates and the raises keep coming. JNJ has gone from $3.32 in annual dividends in 2017 to a $5.36 forward run rate today. That is real compounding.
The Moderate Tier: 5% to 7% Yield At 6%, the capital needed drops to roughly $1.02 million. This tier leans on REITs, preferred shares, covered-call equity funds, and higher-yielding financials.
KeyCorp (NYSE:KEY) is the archetype. The $0.205 quarterly dividend against a $23 share price puts the yield in the mid-3% area, but bank preferreds and covered-call ETFs built around similar names routinely land at 5% to 7%. East West Bancorp (NASDAQ:EWBC) recently raised its dividend from $0.60 to $0.80 per quarter, illustrating how mid-cap financials can lift payouts quickly.
You give up two things here: dividend growth slows, and covered-call strategies cap your upside. The income shows up. Share-price appreciation typically lags.
The Aggressive Tier: 8% to 14% Yield At 10%, the math collapses to $610,000. That is the appeal. Business development companies, mortgage REITs, leveraged covered-call funds, and high-yield bond funds all live here.
The cost is principal erosion. Distributions get cut in stress cycles, NAVs drift lower over time, and inflation grinds the income stream flat. You are, in effect, spending down the asset while it pays you.
Why the Low-Yield Portfolio Often Wins A 3.5% yield that grows 7% to 8% annually doubles the income in about nine years. JNJ, PG, and KO have compounded at roughly that pace for decades. A 10% yield with no growth pays $61,000 today and $61,000 in 2036, minus whatever inflation and distribution cuts take out. The 169% ten-year total return on JNJ is what compounding looks like when growth is stacked on top of yield.
For context, the 10-year Treasury pays 4.6%, and the national average 12-month CD sits at 1.7%. Dividend equities remain the most direct path to income replacement above those baselines.
Three Steps Before You Size the Portfolio Verify your actual annual spending against $61,000. Average U.S. household expenditures ran $78,535 in 2024, but retiree spending typically runs below working-age levels. You may need to replace less than the maximum benefit. Pull a ten-year total return chart on a dividend-growth fund and a high-yield fund side by side. The dispersion between the two curves is the price of chasing yield. Model the tax hit by bracket. Qualified dividends beat ordinary income at every level, and if you live in a high-tax state, the after-tax gap between a 3.5% qualified dividend and a 10% ordinary-income distribution widens further. The equation is fixed. The tier you pick is the actual decision.
Contact [email protected] for any questions or corrections.
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Stocks Slammed As Oil, Yields Surge Again; Applied Materials, Viking, United Rentals In Focus Stocks from four different sectors have been clinging to new highs amid the tech sector sell-off during June and July. One of them is finance name KeyCorp (KEY), which broke out of a cup-with-handle base at a pivot of 22.55 in June before making it to a four-year high last week. KeyCorp provides deposit, lending, cash management, and investment services…
Andra AP fonden lessened its holdings in shares of KeyCorp (NYSE:KEY – Free Report) by 34.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,539 shares of the financial services provider’s stock after selling 53,761 shares during the period. Andra AP fonden’s holdings in KeyCorp were worth $2,076,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in KeyCorp by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider’s stock worth $2,576,110,000 after acquiring an additional 1,192,323 shares in the last quarter. Wellington Management Group LLP grew its holdings in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after purchasing an additional 17,245,128 shares during the period. Geode Capital Management LLC grew its holdings in KeyCorp by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 23,983,690 shares of the financial services provider’s stock worth $493,048,000 after purchasing an additional 115,968 shares during the period. Capital World Investors increased its stake in shares of KeyCorp by 1.1% during the fourth quarter. Capital World Investors now owns 21,027,471 shares of the financial services provider’s stock valued at $434,007,000 after purchasing an additional 238,514 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of KeyCorp by 4.7% during the fourth quarter. Invesco Ltd. now owns 20,567,184 shares of the financial services provider’s stock valued at $424,507,000 after purchasing an additional 916,732 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling In related news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.66, for a total transaction of $494,411.16. Following the transaction, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
KeyCorp Stock Performance KEY opened at $22.69 on Friday. The company’s 50 day moving average is $22.44 and its 200 day moving average is $21.59. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63. The company has a market cap of $24.49 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 0.73 and a beta of 1.02. KeyCorp has a 12-month low of $16.47 and a 12-month high of $24.07.
KeyCorp (NYSE:KEY – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.82 EPS for the current year.
KeyCorp declared that its board has authorized a share buyback plan on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
KeyCorp Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is currently 50.31%.
Wall Street Analyst Weigh In A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on KeyCorp from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird raised their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price objective on KeyCorp from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley boosted their target price on KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $49.14.
Check Out Our Latest Report on KEY
Trending Headlines about KeyCorp Here are the key news stories impacting KeyCorp this week:
Positive Sentiment: Jim Cramer said regional banks have been a “fantastic place to be” and specifically recommended KeyCorp, reinforcing bullish sentiment toward the stock. Jim Cramer: ‘Regional Banks Have Been A Fantastic Place To Be’ Positive Sentiment: Analysts have been raising their outlooks after KeyCorp’s Q2 beat, citing solid earnings and improving growth trends; Keefe, Bruyette & Woods lifted its target to $26 and kept an outperform rating. KeyCorp Analysts Increase Their Forecasts After Upbeat Q2 Earnings Positive Sentiment: Bank of America reiterated a Buy rating with a $26 target, saying guidance was raised for loan growth and net interest income, which supports the bullish case for KeyCorp. KeyCorp: Buy Rating Reaffirmed as 2026 Guidance Raised for Loan Growth and Net Interest Income, with $26 Price Target Positive Sentiment: Scotiabank said its stake in KeyCorp will add $82 million to third-quarter net income, a potentially meaningful tailwind for profitability. Scotiabank says stake in KeyCorp will add $82M to third-quarter net income Neutral Sentiment: Some coverage noted that KeyCorp’s stock underperformed peers on Tuesday, suggesting the rally may be uneven despite the improved fundamental and analyst backdrop. KeyCorp stock underperforms Tuesday when compared to competitors Negative Sentiment: One earnings-focused report said Q2 revenue was pressured by weaker-than-expected noninterest income and margin performance, which could temper enthusiasm around the quarter. KeyCorp’s Q2 revenue hit by weaker-than-expected noninterest income, margin trails consensus About KeyCorp (Free Report)
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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California Public Employees Retirement System boosted its position in shares of KeyCorp (NYSE:KEY – Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,766,616 shares of the financial services provider’s stock after purchasing an additional 78,529 shares during the quarter. California Public Employees Retirement System owned about 0.16% of KeyCorp worth $35,421,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC increased its holdings in shares of KeyCorp by 31.6% in the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 456 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of KeyCorp by 1.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 486 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of KeyCorp by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock worth $66,000 after buying an additional 508 shares during the last quarter. Centennial Wealth Advisory LLC raised its stake in KeyCorp by 1.2% in the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 524 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of KeyCorp by 4.6% in the fourth quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.
Wall Street Analyst Weigh In A number of research analysts recently issued reports on KEY shares. Wells Fargo & Company boosted their target price on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Susquehanna lifted their price target on shares of KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research note on Monday, May 18th. Stephens started coverage on KeyCorp in a report on Monday, June 15th. They issued an “overweight” rating and a $26.00 price objective on the stock. Weiss Ratings raised shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price target on KeyCorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.34.
View Our Latest Stock Report on KEY
Key KeyCorp News Here are the key news stories impacting KeyCorp this week:
Positive Sentiment: KeyCorp beat Q2 earnings estimates with adjusted EPS of $0.44, ahead of Wall Street’s $0.42 forecast, while revenue rose 6.7% year over year to $1.96 billion. KEYCORP REPORTS SECOND QUARTER 2026 NET INCOME OF $472 MILLION, OR $0.44 PER DILUTED COMMON SHARE INCREASING 26% YEAR-OVER-YEAR Positive Sentiment: Net interest income increased 9% year over year and 2% sequentially, and net interest margin edged up to 2.89%, showing improving core banking profitability. KEYCORP REPORTS SECOND QUARTER 2026 NET INCOME OF $472 MILLION, OR $0.44 PER DILUTED COMMON SHARE INCREASING 26% YEAR-OVER-YEAR Positive Sentiment: Management highlighted momentum in priority growth businesses, including a 9% quarter-over-quarter increase in investment banking pipelines and double-digit fee growth in commercial payments, supporting the outlook for continued growth. KeyCorp Expands US Middle Market Footprint and Targets European M&A Neutral Sentiment: The company reaffirmed its growth path in the earnings call, with analysts pointing to continued margin expansion and stronger fee income as key themes. KeyCorp (KEY) Q2 2026 Earnings Call Transcript Neutral Sentiment: KeyCorp also updated its FY2026 revenue guidance to $8.0 billion-$8.1 billion, broadly in line with consensus, which should keep investor focus on execution rather than a big change in outlook. Insider Buying and Selling at KeyCorp In other news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.
KeyCorp Price Performance Shares of KEY opened at $23.02 on Wednesday. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day simple moving average of $22.36 and a two-hundred day simple moving average of $21.56. The stock has a market cap of $24.85 billion, a PE ratio of 14.12, a P/E/G ratio of 0.73 and a beta of 1.02.
KeyCorp (NYSE:KEY – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.97 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, analysts forecast that KeyCorp will post 1.82 EPS for the current year.
KeyCorp Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 1st. KeyCorp’s dividend payout ratio is presently 50.31%.
KeyCorp announced that its board has initiated a stock buyback program on Wednesday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 13% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
KeyCorp Profile (Free Report)
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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Earnings Per Share (EPS): $0.44, up 26% year over year.Revenue Growth: 7% year over year.Pre-Provision Net Revenue Growth: 9% year over year.Net Interest Margi
KeyCorp made gains across its priority growth businesses of investment banking, commercial payments and wealth management in the second quarter, Chairman, CEO and President Chris Gorman said Tuesday (July 14).
The bank’s investment banking pipelines grew 9% over the previous quarter, its commercial payments business delivered double-digit fee growth over the past year, and its assets under management reached a record high of $74 billion, Gorman said in an earnings release.
Collectively, the priority fee-based businesses of wealth, investment banking and commercial payments grew 8% in the first half compared to the same period in 2025, according to a presentation released Tuesday.
“While the macroeconomic environment remains uncertain, our momentum continues to be strong,” Gorman said during a Tuesday earnings call. “We are seeing healthy client engagement, solid activity levels across our businesses, and remain well-positioned to perform through a range of potential economic scenarios.”
KeyCorp provides banking services to individuals and businesses in 15 states under the name KeyBank National Association, and it provides corporate and investment banking products to middle-market companies in selected industries across the United States under the name KeyBanc Capital Markets.
The company announced in April that it plans to expand its ability to provide financial advisory services to institutional clients by entering the Western European market via its acquisition of United Kingdom-based middle market investment banking advisory firm Clearwater UK. Subject to regulatory approvals and customary closing conditions, the transaction is expected to close in the second half, KeyCorp said in an April22 press release.
Highlighting the planned acquisition during Tuesday’s call, Gorman said: “This transaction represents a strategic extension of our leading middle-market advisory franchise and expands our ability to serve M&A [mergers and acquisitions] clients and prospects internationally.”
To expand its middle market commercial banking capabilities in regions of the U.S., KeyCorp announced in a May press release that it added experienced local talent in Southeast Michigan. The company announced in a March press release that it launched a five-person middle market commercial banking team in Atlanta after introducing similar teams in Chicago, Southern California, and Overland Park, Kansas.
Gorman said during Tuesday’s earning call: “We have done, I think, a really good job of expanding our core middle market business in new cities that we haven’t been in in the past.”
KeyCorp Chief Financial Officer Clark Khayat said during the call that the company expects to see its average commercial loans increase 8% to 10% this year.
“The higher outlook reflects strong loan growth through the first half of the year, continued success in adding and expanding client relationships, and healthy commercial loan pipelines that continue to support growth in the second half of 2026,” Khayat said.
KeyCorp (KEY) Q2 2026 Earnings Call July 21, 2026 9:00 AM EDT
Company Participants
Christopher Gorman - Chairman, President & CEO
Clark Khayat - Chief Financial Officer
Mohit Ramani - Chief Risk Officer
Conference Call Participants
Ryan Nash - Goldman Sachs Group, Inc., Research Division
Ebrahim Poonawala - BofA Securities, Research Division
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division
L. Erika Penala - UBS Investment Bank, Research Division
Manan Gosalia - Morgan Stanley, Research Division
John Pancari - Evercore ISI Institutional Equities, Research Division
Matthew O'Connor - Deutsche Bank AG, Research Division
Michael Mayo - Wells Fargo Securities, LLC, Research Division
Kenneth Usdin - Bernstein Autonomous LLP
Gerard Cassidy - RBC Capital Markets, Research Division
David Chiaverini - Jefferies LLC, Research Division
Presentation
Operator
Good morning, and welcome to KeyCorp Second Quarter 2026 Earnings Conference Call. My name is Megan, and I will be your moderator for today. [Operator Instructions]. As a reminder, this conference is being recorded. And I would now like to turn the conference over to [ Troy Gates ], KeyCorp's Director of Investor Relations. Please go ahead.
Unknown Executive
Thank you, operator, and good morning, everyone. I'd like to thank you for joining KeyCorp's Second Quarter 2026 Earnings Conference Call. I'm here with Chris Gorman, our Chairman and Chief Executive Officer; Clark Khayat, our Chief Financial Officer; and Mo Ramani, our Chief Risk Officer.
As usual, we will reference our earnings presentation slides, which can be found in the Investor Relations section of the key.com website. In the back of the presentation, you will find our statement on forward-looking disclosures and certain financial measures, including non-GAAP measures. This covers our earnings materials as well as remarks made on this morning's call. Actual results may differ materially from forward-looking statements, and those statements speak only as of today, July 21, 2026, and will not be updated.
