Financial Performance - KeyCorp reported a net income of $370 million, or $0.33 per diluted common share for Q1 2025, a significant increase from a net loss of $(279) million in Q4 2024[2]. - Total revenue for Q1 2025 was $1.8 billion, reflecting a 16% year-over-year increase, with net interest income rising 4% quarter-over-quarter[1][3]. - Net income attributable to Key for Q1 2025 was $406 million, up 85.4% from $219 million in Q1 2024[29]. - Total revenue from continuing operations for Q1 2025 was $1.773 billion, a 15.7% increase from $1.533 billion in Q1 2024[29]. - KeyCorp recorded net income attributable to Key of $321 million for Q1 2025, up from $205 million in Q1 2024, representing a 56.6% increase[35]. - The return on average common equity was 9.30% for the three months ended December 31, 2024, compared to a negative 7.80% in the prior quarter[52]. Credit Quality - Nonperforming assets decreased by 9% and net charge-offs declined by 4% quarter-over-quarter, indicating improved credit metrics[2]. - Key's net loan charge-offs for Q1 2025 totaled $110 million, or 0.43% of average total loans, compared to $81 million, or 0.29%, in Q1 2024[20]. - Nonperforming loans at the end of Q1 2025 were $686 million, representing 0.65% of period-end portfolio loans, compared to 0.60% at the end of Q1 2024[21]. - Key's provision for credit losses increased to $118 million in Q1 2025 from $101 million in Q1 2024, driven by higher net loan charge-offs and economic uncertainty[19]. - The provision for loan and lease losses was $130 million for the three months ended March 31, 2025, compared to $29 million in the previous quarter[88]. - Total allowance for credit losses at the end of the period was $1.707 billion, compared to $1.699 billion at December 31, 2024[88]. Capital Position - The common equity tier 1 ratio stood at 11.8%, up approximately 150 basis points year-over-year, demonstrating a strong capital position[2][6]. - Key's Common Equity Tier 1 capital ratio was 11.8% as of March 31, 2025, compared to 10.3% a year earlier[23]. - Tangible common equity (non-GAAP) rose to $13,783 million, up from $12,951 million in the previous quarter and $9,302 million a year ago, indicating a year-over-year increase of 48.5%[62]. - The tangible common equity to tangible assets ratio (non-GAAP) improved to 7.41%, compared to 7.02% in the previous quarter and 5.04% a year ago[62]. Deposits and Loans - Average deposits totaled $148.5 billion for Q1 2025, an increase of $5.7 billion year-over-year, driven by growth in both consumer and commercial deposits[16]. - Average loans for Q1 2025 were $104.4 billion, down $6.7 billion compared to Q1 2024, primarily due to weak client loan demand[14]. - Average deposit balances increased by $1.1 billion compared to Q1 2024, reflecting a focus on growing deposits across commercial businesses[35]. - Total loans decreased slightly to $104,354 million in Q1 2025 from $104,711 million in Q4 2024[71]. - Total commercial loans decreased to $494 million in Q1 2025 from $565 million in Q4 2024, a decline of 12.5%[92]. Noninterest Income and Expenses - Noninterest income rose to $668 million in Q1 2025, a 440.8% increase from Q4 2024, primarily due to the strategic repositioning of the available-for-sale portfolio[9][10]. - Noninterest expense decreased by 8% year-over-year to $1.131 billion, reflecting a reduction in personnel and other expenses[11][12]. - Total noninterest income for Q1 2025 was $668 million, a significant recovery from a loss of $196 million in Q4 2024[69]. - Noninterest expense rose by $20 million compared to Q1 2024, mainly due to increased personnel expenses[35]. Strategic Initiatives - KeyCorp expressed confidence in navigating the current environment, supported by strong earnings and business momentum[4][5]. - KeyCorp's Board of Directors authorized a new repurchase program for up to $1 billion of common shares[27].

Revenue of $1.8 billion, up 16% year-over-year; noninterest expense down 1% year-over-year Net interest income up 4% quarter-over-quarter Improved credit metrics - nonperforming assets declined by 9% and net charge-offs by 4% quarter-over-quarter Common equity tier 1 ratio of 11.8%, up ~150 basis points year-over-year CLEVELAND, April 17, 2025 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $370 million, or $.33 per diluted ...

KeyCorp KEY will release earnings results for the first quarter, before the opening bell on Thursday, April 17.Analysts expect the Cleveland, Ohio-based company to report quarterly earnings at 32 cents per share, up from 20 cents per share in the year-ago period. KeyCorp projects to report quarterly revenue at $1.75 billion, compared to $1.53 billion a year earlier, according to data from Benzinga Pro.On March 13, KeyCorp plans purchase up to $1.0 billion of common shares in open market or in privately nego ...

Core Viewpoint - KeyCorp is set to announce its first-quarter 2025 results on April 17, with expectations of improved lending activities despite a decline in commercial and industrial loan demand [1][2]. Lending Activities - Demand for commercial and industrial (C&I) loans, which make up about 50% of KeyCorp's average loan balances, decreased in the first quarter, while consumer loans, accounting for roughly 31%, saw significant improvement [2]. - The average loan balance for KeyCorp is projected to be $103.6 billion, reflecting a 6.7% year-over-year decline [2]. Earnings and Income Estimates - The Zacks Consensus Estimate for KeyCorp's average earning assets is $172 billion, indicating a 1.2% increase from the previous year [3]. - The consensus estimate for net interest income (NII) is $1.10 billion, suggesting a year-over-year increase of 25.8%, with projections at $1.12 billion [5]. - Total non-interest income is estimated at $653.8 million, indicating a 1.1% year-over-year increase, with projections at $661.6 million [10]. Interest Rates and Economic Factors - The Federal Reserve maintained interest rates at 4.25%-4.5%, which is expected to support KeyCorp's NII and net interest margin (NIM) through higher yields on interest-earning assets [4]. - The yield curve steepened during the first quarter, further aiding NIM and NII growth [4]. Mortgage and Non-Interest Income - Mortgage rates declined, leading to improved mortgage originations and refinancing activities, which are expected to positively impact KeyCorp's mortgage banking income [6]. - The consensus estimate for commercial mortgage servicing fees is $59.7 million, indicating a 6.7% year-over-year rise, while consumer mortgage income is expected to reach $15.3 million, reflecting a 9.1% increase [7]. Trading and Investment Banking - Increased client activity and market volatility are anticipated to have positively influenced KeyCorp's trading business, with a consensus estimate for investment banking and debt placement fees at $156.8 million, indicating a 7.8% decline [8]. Expense and Asset Quality - Total non-interest expenses are projected to be $1.19 billion, reflecting a 4.2% year-over-year increase [11]. - KeyCorp is expected to build reserves for credit losses, with an estimated provision of $104.8 million, suggesting a 3.8% rise year over year [12]. Non-Performing Assets - The consensus estimate for non-performing assets (NPAs) is $773.1 million, indicating a 14.7% increase, while non-performing loans (NPLs) are estimated at $760.9 million, reflecting a 15.6% rise [13]. Earnings Expectations - The Zacks Consensus Estimate for KeyCorp's first-quarter earnings is 32 cents, representing a 45.5% increase from the prior year, with sales expected to reach $1.76 billion, indicating a 15.4% rise [15].

Analysts on Wall Street project that KeyCorp (KEY) will announce quarterly earnings of $0.32 per share in its forthcoming report, representing an increase of 45.5% year over year. Revenues are projected to reach $1.76 billion, increasing 15.4% from the same quarter last year.The current level reflects a downward revision of 2.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections ov ...

The market expects KeyCorp (KEY) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. 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 April 17, 2025, might help the stock move higher if these key numbers are better ...

Core Points - KeyBank Foundation is launching a grant program to strengthen Community Development Financial Institutions (CDFIs) to enhance affordable housing and small business development [1][2] - The program will award $200,000 grants to one exemplary CDFI in each of KeyBank's 27 markets, providing flexible funding for their broader missions [2][4] - CDFIs are essential for economic empowerment, facilitating homeownership, business growth, and financial stability in underserved communities [3] Grant Program Details - The grant program aims to provide unrestricted funding to support CDFIs in expanding services, enhancing infrastructure, and deepening community impact [2][4] - Applications for the grants must be submitted by May 16, with specific submission requirements outlined by the KeyBank Foundation [5] - Eligible applicants must be certified CDFIs in good standing, operating as nonprofit or for-profit entities in KeyBank's primary markets, with a strong track record in affordable housing or small business development [9] About KeyBank and KeyBank Foundation - KeyBank Foundation is a nonprofit organization focused on improving financial wellness, education, and community development through strategic philanthropy [6] - KeyCorp, the parent company of KeyBank, is celebrating its bicentennial in 2025, with assets of approximately $187 billion as of December 31, 2024 [7] - KeyBank operates approximately 1,000 branches and 1,200 ATMs across 15 states, offering a range of financial services including corporate and investment banking products [8]

Core Insights - The KeyBank 2025 Financial Mobility Survey indicates a growing belief among Americans that homeownership is unattainable, with 46% of non-homeowners expressing this sentiment, up from 39% the previous year [4] - Despite these challenges, recent homebuyers report increased confidence due to financial education and support from mortgage loan officers, with 30% stating that such meetings influenced their purchasing decisions, a rise from 19% last year [5][6] Group 1: Homeownership Perception - A significant portion of respondents, 41%, believe homeownership is not attainable for the average American [4] - Younger individuals without a mortgage are attempting to save more, with 47% spending less in hopes of affording a mortgage, yet 60% still doubt their ability to own a home [4] Group 2: Financial Education and Support - Financial education is seen as crucial, with 48% of respondents in the market for a home recognizing the importance of budgeting for down payments and closing costs [5] - KeyBank's Financial Wellness Center offers resources to help individuals understand their financial standing and navigate the homebuying process [5][10] Group 3: Role of Financial Institutions - Building a relationship with banks can enhance the homebuying experience, as financial institutions provide guidance and tools to make homeownership more achievable [6][7] - KeyBank Mortgage Loan Officers are highlighted as valuable resources for potential homebuyers, offering information on lending opportunities and programs [8] Group 4: Economic Outlook - Recent homebuyers exhibit a positive economic outlook, feeling confident in their ability to manage financial commitments, such as coming up with $2,000 in a month [6] - The survey reflects a broader sentiment regarding financial resiliency and the impact of societal trends on homeownership aspirations [11]

Core Insights - KeyBank has been awarded twelve 2025 Best Bank Awards for its support of small and middle market business clients, highlighting its commitment to building trusted relationships and providing high-quality service [1][2]. Group 1: Awards and Recognition - KeyBank received nine national and regional Coalition Greenwich Best Bank Awards for middle market banking, recognizing its ability to build trusted relationships and optimize business performance for clients [2][3]. - The bank also received three national and regional Coalition Greenwich Best Bank Awards for small business banking, reflecting its dedication to providing tools and guidance for small businesses [3][7]. Group 2: Methodology - The awards for small business banking were based on over 13,000 interviews with businesses generating sales between $1 million and $10 million across the country [4]. - The awards for middle market banking were based on nearly 12,000 interviews with businesses generating sales between $10 million and $500 million in the United States [4]. Group 3: Company Overview - KeyCorp, headquartered in Cleveland, Ohio, is one of the largest bank-based financial services companies in the U.S., with approximately $187 billion in assets as of December 31, 2024 [5][8]. - The company provides a range of services including deposit, lending, cash management, and investment services through approximately 1,000 branches and 1,200 ATMs across 15 states [8].

Group 1 - KeyCorp's shares increased by 19% in 2024, supported by a $2.8 billion investment from Scotiabank, which involved a significant repositioning of its available-for-sale portfolio [2] - The repositioning included the sale of approximately $10 billion worth of assets [2] - The Insiders Forum focuses on small and mid-cap stocks with significant insider purchases, aiming to outperform the Russell 2000 benchmark [2]