KeyCorp (KEY)

KeyCorp's stock price has experienced fluctuations in the past six months. As of June 27, 2025, the share price was $17.22, an increase of 6.56% from the prior week. Over the last year, KeyCorp's stock price rose by 22.73%. The company's stock gained 24.8% over the past six months, outperforming the Financial Select Sector SPDR Fund's gains during the same period. A strategic minority investment from Scotiabank in August 2024 helped reposition KeyCorp's securities portfolio and strengthen its capital. In the fourth quarter of 2024, KeyCorp reported a net loss from continuing operations, primarily due to a charge related to the loss on the sale of securities, but the adjusted net income was $378 million. For the first quarter of 2025, KeyCorp reported a net income of $370 million, exceeding estimations. Average loans for the first quarter of 2025 decreased compared to the first quarter of 2024, reflecting tepid client loan demand.

Demand seasonality for KeyCorp's products and services is influenced by factors inherent to the financial services industry. Business services, professional fees, marketing, and other expenses have shown declines primarily due to seasonality, with some elevated expenses in the fourth quarter of 2024. The financial services industry is subject to the cyclical nature of the economy, where decreased incomes could reduce demand for KeyCorp's products and services, while strong economic conditions generally lead to increased demand.

KeyCorp, headquartered in Cleveland, Ohio, is a bank-based financial services company operating primarily through its subsidiary, KeyBank National Association. It operates in the Financial Services sector, specifically in the Banks - Regional industry. KeyCorp's business is divided into two main segments: Consumer Bank and Commercial Bank. The Consumer Bank serves individuals and small businesses, offering a variety of financial products and services. The Commercial Bank focuses on middle-market and large corporate clients across various sectors, delivering a broad suite of banking and capital markets products. KeyCorp also has a significant commercial mortgage servicing business.

KeyCorp's bank footprint spans 15 to 16 states, predominantly in Ohio and New York. As of March 31, 2025, KeyCorp had approximately 1,000 full-service retail banking branches and a network of over 40,000 KeyBank and Allpoint ATMs nationwide. While consumer banking is concentrated in these 15 states, KeyCorp's commercial banking offices extend across the U.S.

KeyCorp maintains a strong brand reputation through its commitment to corporate social responsibility and community engagement. The company was recognized as a Civic 50 Greater Philadelphia Awardee for its community engagement and social impact. KeyBank has strengthened relationships with Black faith leaders to deliver meaningful solutions and programs in communities. KeyBank supports affordable and sustainable housing through financing and grants. KeyCorp has expanded digital banking capabilities and cybersecurity measures to secure client data and financial transactions. In 2023, KeyCorp retained 97% of its top talent, and enrollment in its corporate mentoring program increased by 16%. 66% of new hires were diverse in gender or race/ethnicity in 2023.

KeyCorp has a diverse ownership structure, with institutional shareholders holding approximately 71.54% to 72.68% of the company's stock, insiders owning about 15.90%, and retail investors holding around 12.56%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., Price T Rowe Associates Inc /md/, State Street Corp, Fmr Llc, Fuller & Thaler Asset Management, Inc., Franklin Resources Inc, Geode Capital Management LLC, Invesco Ltd, and Diamond Hill Capital Management Inc. The largest individual KeyCorp shareholder is Of Nova Scotia Bank, owning 162.98 million shares, representing 14.87% of the company.