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KeyCorp executives on Tuesday said the financial institution has realized $200 million in savings as a result of its latest cost-cutting strategy.
Rise in loan balance and improvement in mortgage banking business support KeyCorp's (KEY) Q2 earnings. However, worsening asset quality and flattening of yield curve are the undermining factors.
2Q19 results included a net impact of $.04 per common share from notable items, primarily related to efficiency initiative expenses Positive trends in core businesses: solid balance sheet growth and momentum ...
Soft loan growth, flattening of yield curve and rise in expenses are likely to affect KeyCorp's (KEY) earnings in the second quarter of 2019.
Large U.S. banks continued to churn out dividend increases this week, along with companies from other sectors.
Dividend paying stocks like KeyCorp (NYSE:KEY) tend to be popular with investors, and for good reason - some research...
CLEVELAND, July 18, 2019 /PRNewswire/ -- Today, KeyBank, N.A. and Dividend Finance, LLC are announcing a new partnership that will help people utilize the combined benefits of solar and energy storage for their homes. Dividend, a leading national provider of solar and home improvement financing solutions, together with KeyBank, a top regional bank supporting financial wellness with industry expertise, will now offer financing to homeowners who want to add solar power to their residences.
The competition for deposits shifts into high gear in Western New York as some banks offer large cash bonuses to new customers who open certain checking accounts.
CLEVELAND , July 17, 2019 /PRNewswire/ -- KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the third quarter of 2019: A cash dividend of $0.185 per share ...
In a complaint filed in Ohio, KeyBank alleges that it lost or could lose approximately $122 million as a result of fraudulent activity involving a business customer.
KeyCorp (KEY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The parent company of KeyBank N.A. says recently-discovered fraudulent activity by a business customer could cost the company up to $90 million.
Shares of KeyCorp shed 2% in premarket trading Tuesday, after the regional bank disclosed that it had discovered "fraudulent activity" conducted by a business customer of its KeyBank National Association subsidiary. The bank said while it continues to investigate the activity associated with the transactions, which were conducted in the third quarter of its 2019 fiscal year, it estimates the potential exposure to the bank of up to $90 million. KeyCorp said it was working with law-enforcement authorities and believes the incident is "an isolated occurrence involving a single business relationship." The stock had gained 3.6% over the past three months through Monday, while the SPDR S&P Regional Banking ETF has declined 3.7% and the Dow Jones Industrial Average has advanced 3.4%.
KeyCorp shares traded notably lower Tuesday after the lender uncovered fraudulent activity associated within one of its business customers in its current quarter.
Christopher Gorman is familiar with Buffalo. For months, the vice chairman and president of banking at KeyCorp was in town weekly during the integration of First Niagara Financial Group Inc., the largest acquisition in KeyCorp’s history. Gorman is one of the top executives of the Cleveland-based parent company of KeyBank N.A. In June 2017, he became one of two vice chairmen of the $141.5 billion financial institution. KeyBank is the second-largest deposit-holder in the eight counties of Western New York.
COLUMBUS, Ohio, July 11, 2019 /PRNewswire/ -- The KeyBank Business Boost & Build program, powered by JumpStart, has awarded $100,000 in funding to Per Scholas Inc. in Columbus through the KeyBank Center for Technology, Innovation and Inclusive Growth. Per Scholas was founded more than 20 years ago with a mission to open doors to transformative technology careers for individuals from overlooked communities. This funding will help Per Scholas build a tech workforce collaborative called "On-Ramps to Tech Careers" to increase the pipeline of students from underrepresented groups into the Columbus tech workforce.
Ford Motor Co. on Wednesday added KeyCorp CEO Beth Mooney to its board of directors. Among automakers, Mooney's appointment gives Ford (NYSE: F) a total of 14 board members, but only three of them are women. In contrast, rival automaker General Motors Co. (NYSE: GM) has six women on its 11-person board.
In her new role, Fran O’Rourke will lead wealth management teams in KeyBank’s Capital Region, Central New York, Rochester, Western New York and Connecticut markets.
KeyCorp NYSE:KEYView full report here! Summary * Perception of the company's creditworthiness is negative * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for KEY with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting KEY. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $5.11 billion over the last one-month into ETFs that hold KEY are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. KEY credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
A decade after KeyCorp slashed its dividend during the financial crisis, the payout looks very secure these days, research firm New Constructs says. That should offer some consolation to disappointed investors.