Keycorp (KEY)

KeyCorp's roots trace back 190 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 $170.3 billion at December 31, 2020. 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 more than 1,000 branches and approximately 1,400 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.

Company profile

Ticker

KEY, KEY-PK, KEY-PJ, KEY-PI

Exchange

NYSE

Website

www.key.com

CEO

Christopher Gorman

Incorporated

Ohio

Location

Ohio

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

National Commercial Banks

Citigroup • Wells Fargo & Co. • JPMorgan Chase & Co. • U.S. Bancorp. • PNC Financial Services • Capital One Financial • Shinhan Financial • HSBC USA • Regions Financial • Santander Holdings USA ...

Former names

KEYCORP/NEW, SOCIETY CORP

SEC CIK

0000091576

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Parent Company ...

IRS number

346542451

KEY stock data

1M 1Y 5Y

News

From Benzinga Pro

JP Morgan Maintains Neutral on KeyCorp, Lowers Price Target to $20.5

1 Jul 22

JP Morgan analyst Steven Alexopoulos maintains KeyCorp (NYSE:KEY) with a Neutral and lowers the price target from $25 to $20.5.

Wells Fargo Maintains Overweight on KeyCorp, Lowers Price Target to $22

1 Jul 22

Wells Fargo analyst Mike Mayo maintains KeyCorp (NYSE:KEY) with a Overweight and lowers the price target from $27 to $22.

Benzinga's Top Ratings Upgrades, Downgrades For June 30, 2022

30 Jun 22

Upgrades

5 Analysts Have This to Say About KeyCorp

30 Jun 22

Wedbush Downgrades KeyCorp to Neutral

30 Jun 22

Press releases

From Benzinga Pro

KEYCORP RAISES ITS PRIME LENDING RATE TO 4.75 PERCENT

15 Jun 22

CLEVELAND, June 15, 2022 /PRNewswire/ -- KeyCorp (NYSE:KEY) and its banking affiliates have raised their prime lending rate to 4.75 percent from 4.00 percent, effective tomorrow, June 16, 2022. About KeyCorpKeyCorp's

KEYBANK EXPANDS EMBEDDED BANKING PLATFORM WITH NEW PAYMENT FACILITATION CAPABILITIES

1 Jun 22

CLEVELAND, June 1, 2022 /PRNewswire/ -- KeyBank announced the release of its end-to-end payment facilitation capabilities, allowing software companies to easily own and process payments. The concept of embedding

Americans' Credit Scores Rise With Help From KeyBank Secured Credit Card

1 Jun 22

More than 15,000 clients who graduated from KeyBank's Secured Credit Card program to date have found financial mobility CLEVELAND, June 1, 2022 /PRNewswire/ -- Today, KeyBank (NYSE:KEY) announced its May 2022

KEYCORP TO PRESENT AT THE MORGAN STANLEY US FINANCIALS, PAYMENTS & CRE CONFERENCE

24 May 22

KEYCORP DECLARES QUARTERLY CASH DIVIDEND ON COMMON SHARES AND PREFERRED STOCKS

12 May 22

Analyst ratings and price targets

Last 3 months

Average target

$20.60

Low target

$17.00

High target

$23.00

Calendar

4 May 22

2 Jul 22

31 Dec 22

Financial summary

Financial statements Chart KEY financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	684M	684M	684M	684M	684M	684M
Cash burn (monthly)	76.33M	21.17M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	234.11M	64.92M	n/a	n/a	n/a	n/a
Cash remaining	449.89M	619.08M	n/a	n/a	n/a	n/a
Runway (months of cash)	5.9	29.2	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Keycorp earnings reports.

Recent insider trades

KEY insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
23 May 22	Dallas H James	Common Shares	Sale back to company	Dispose D	No	No	19.81	4,463	88.41K	115,172
23 May 22	Dallas H James	Common Shares	Option exercise	Acquire M	No	No	0	8,928	0	119,635
23 May 22	Dallas H James	Deferred Shares Common Shares	Option exercise	Dispose M	No	No	0	8,928	0	26,319
23 May 22	Highsmith Carlton L	Common Shares	Sale back to company	Dispose D	No	No	19.81	4,463	88.41K	69,339
23 May 22	Highsmith Carlton L	Common Shares	Option exercise	Acquire M	No	No	0	8,928	0	73,802
23 May 22	Highsmith Carlton L	Deferred Shares Common Shares	Option exercise	Dispose M	No	No	0	8,928	0	26,319
12 May 22	Alexander M Cutler	Deferred Shares Common Shares	Grant	Acquire A	No	No	0	7,285	0	74,285
12 May 22	Gillis Ruth Ann M	Deferred Shares Common Shares	Grant	Acquire A	No	No	0	7,285	0	35,247
12 May 22	Hipple Richard J	Deferred Shares Common Shares	Grant	Acquire A	No	No	0	7,285	0	49,077

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

KEY institutional ownership history Ownership history

81.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	827	815	+1.5%
Opened positions	94	123	-23.6%
Closed positions	82	63	+30.2%
Increased positions	344	284	+21.1%
Reduced positions	238	251	-5.2%

13F shares	Current	Prev Q	Change
Total value	17.01B	17.68B	-3.8%
Total shares	759.95M	764.14M	-0.5%
Total puts	1.51M	2.69M	-43.7%
Total calls	1.99M	2.18M	-8.7%
Total put/call ratio	0.8	1.2	-38.3%

Largest owners	Shares	Value	Change
Vanguard	111.2M	$2.49B	+1.2%
BLK Blackrock	83.58M	$1.87B	-0.1%
Capital International Investors	83.19M	$1.86B	-0.0%
STT State Street	51.91M	$1.16B	-3.3%
Boston Partners	30.67M	$686.24M	-5.7%
RY Royal Bank Of Canada	21.97M	$491.58M	+0.6%
Geode Capital Management	18.52M	$413.5M	+2.9%
Charles Schwab Investment Management	15.13M	$338.56M	+5.8%
IVZ Invesco	12.93M	$289.42M	-2.4%
First Trust Advisors	11.79M	$263.87M	+280.7%

Largest transactions	Shares	Bought/sold	Change
First Trust Advisors	11.79M	+8.69M	+280.7%
Norges Bank	0	-7.85M	EXIT
Capital World Investors	7.62M	-6.6M	-46.4%
Fuller & Thaler Asset Management	1.56M	-5.99M	-79.4%
GS Goldman Sachs	9.49M	-4.06M	-30.0%
Balyasny Asset Management	0	-2.72M	EXIT
PRU Prudential Financial	3.27M	+2.22M	+211.6%
Eaton Vance Management	3.61M	-1.93M	-34.8%
FHI Federated Hermes	8.2M	-1.85M	-18.4%
Boston Partners	30.67M	-1.84M	-5.7%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Huntington Bancshares • Truist Financial • AT&T

Management Discussion

One of our principal sources of revenue is net interest income. Net interest income is the difference between interest income received on earning assets (such as loans and securities) and loan-related fee income, and interest expense paid on deposits and borrowings. There are several factors that affect net interest income, including:
•fair value accounting of acquired earning assets and interest-bearing liabilities.
To make it easier to compare both the results among several periods and the yields on various types of earning assets (some taxable, some not), we present net interest income in this discussion on a “TE basis” (i.e., as if all income were taxable and at the same rate). For example, $100 of tax-exempt income would be presented as $126, an amount that, if taxed at the statutory federal income tax rate of 21%, would yield $100. Prior to 2018, $100 of tax-exempt income would be presented as $154, an amount that, if taxed at the previous statutory federal income tax rate of 35%, would yield $100.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Avg

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From filing 10-Q 2022 Q1

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