Last $13.40 USD
Change Today +0.125 / 0.94%
Volume 2.4M
KEY On Other Exchanges
Symbol
Exchange
New York
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As of 11:34 AM 08/20/14 All times are local (Market data is delayed by at least 15 minutes).

keycorp (KEY) Snapshot

Open
$13.27
Previous Close
$13.27
Day High
$13.40
Day Low
$13.24
52 Week High
03/21/14 - $14.70
52 Week Low
09/30/13 - $11.05
Market Cap
11.7B
Average Volume 10 Days
7.4M
EPS TTM
$1.06
Shares Outstanding
874.5M
EX-Date
08/28/14
P/E TM
12.7x
Dividend
$0.26
Dividend Yield
1.73%
Current Stock Chart for KEYCORP (KEY)

keycorp (KEY) Details

KeyCorp operates as the bank holding company for KeyBank National Association that provides various retail and commercial banking services to individual, corporate, and institutional clients in the United States. The company’s Key Community Bank segment offers deposit and investment products; personal finance services and loans, including residential mortgages, home equity, credit cards, and various installment loans for individuals; deposits, investment and credit products, and business advisory services to small businesses; and financial, estate and retirement planning, and asset management services to high-net-worth clients. This segment also provides commercial lending, cash management, equipment leasing, investment and employee benefit programs, succession planning, access to capital markets, derivatives, and foreign exchange services to mid-sized businesses. Its Key Corporate Bank segment offers a suite of banking and capital market products, such as syndicated finance, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, public finance, and debt and equity capital market products, as well as commercial mortgage loans for middle market clients comprising consumer, energy, healthcare, industrial, public, and real estate sectors. In addition, KeyCorp provides personal, securities lending, and custody services; access to mutual funds, treasury, investment banking, international banking, and investment management services; and financial services consisting of community development financing, securities underwriting, and brokerage, as well as merchant services. As of December 31, 2013, the company operated 1,028 retail banking branches and 1,335 automated teller machines in 12 states, as well as a telephone banking call center. KeyCorp was founded in 1849 and is headquartered in Cleveland, Ohio.

13,961 Employees
Last Reported Date: 08/4/14
Founded in 1849

keycorp (KEY) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $986.5K
Chief Financial Officer and Member of Executi...
Total Annual Compensation: $323.1K
Vice Chairman of Keybank National Association...
Total Annual Compensation: $600.0K
Chief Risk Officer, Senior Executive Vice Pre...
Total Annual Compensation: $500.0K
Compensation as of Fiscal Year 2013.

keycorp (KEY) Key Developments

KeyCorp. Mulls Acquisitions

KeyCorp. (NYSE:KEY) is seeking acquisitions. Kirk Albert, Market President of KeyCorp said, "Do you acquire a bank in a low-interest environment and look at deposits as loss leaders for the next year or two? When is the right time to buy? There's nothing imminent, but we continue to look at opportunities. We're positioned to be a buyer. Meanwhile, we'll grow organically."

Keycorp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Loan Charge-Offs for the Second Quarter Ended June 30, 2014; Provides Net Interest Income Guidance for 2014; Provides Net Charge-Offs and Tax Rate Guidance for the Second Six Months of 2014

KeyCorp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the second quarter, net income from continuing operations attributable to Key common shareholders was $242 million, or $0.27 per diluted share, compared to $193 million, or $0.21 per diluted share, for the second quarter of 2013. Net interest income was $579 million against $586 million a year ago. Total revenue was $1,034 million against $1,015 million a year ago. Income from continuing operations attributable to Key was $247 million against $199 million a year ago. Net income attributable to Key was $219 million against $204 million a year ago. Net income attributable to key common shareholders was $214 million or $0.24 per diluted and basic share against $198 million or $0.22 per diluted and basic share a year ago. From consolidated operations: Return on average common equity was 8.44% compared to 7.92% a year ago. From consolidated operations: Return on average tangible common equity was 9.37% compared to 8.82% a year ago. From consolidated operations: Return on average total asset was 0.96% compared to 0.92% a year ago. From continuing operations: return on average total assets was 1.14% against 0.95% a year ago. From continuing operations: return on average common equity was 9.55% against 7.72% a year ago. Book value at period end was $11.65 compared to $10.89 a year ago. Tangible book value at period end was $10.50 against $9.77 a year ago. For the six months, net income from continuing operations attributable to Key common shareholders was $474 million, or $0.53 per diluted share, compared to $389 million, or $0.42 per diluted share, for the same period one year ago. Net interest income was $1,148 million against $1,175 million a year ago. Total revenue was $2,038 million against $2,029 million a year ago. Income from continuing operations attributable to Key was $485 million against $400 million a year ago. Net income attributable to Key was $461 million against $408 million a year ago. Net income attributable to key common shareholders was $450 million or $0.51 per diluted and basic share against $397 million or $0.43 per diluted and basic share a year ago. From consolidated operations: Return on average common equity was 8.96% compared to 8.00% a year ago. From consolidated operations: Return on average tangible common equity was 9.96% compared to 8.91% a year ago. From continuing operations: return on average total assets was 1.13% against 0.97% a year ago. From continuing operations: return on average common equity was 9.44% against 7.84% a year ago. From consolidated operations: Return on average total assets was 1.03% compared to 0.93% a year ago. Net loan charge-offs for the second quarter of 2014 totaled $30 million, or 0.22%, of average total loans. These results compare to $20 million, or 0.15%, for the first quarter of 2014, and $45 million, or 0.34%, for the same period last year. For the second six months of 2014, on a normal basis, the company would expect that tax rate to be in the 26% to 28% range. For the full year 2014, the company expected net interest income to be relatively stable with reported level in 2013, with potential for downward pressure due to the competitive environment. For the second six months of 2014, the company expected net charge-offs to remain below the targeted range of 40 to 60 basis points and for the loan loss provision to approximate the level of net charge-offs.

Keycorp Declares Dividends on Common and Preferred Shares, Payable on September 15, 2014

KeyCorp announced that its Board of Directors declared the following dividends for the third quarter of 2014: a cash dividend of $0.065 per share on the corporation's outstanding common shares. The dividend is payable on September 15, 2014 to holders of record of such common shares as of the close of business on September 2, 2014, a dividend of $1.9375 per share on the corporation's outstanding 7.750% Non-Cumulative Perpetual Convertible Preferred Stock, Series A, payable on September 15, 2014 to holders of record as of the close of business on August 29, 2014, for the period commencing on (and including) June 15, 2014 to (but excluding) September 15, 2014.

 

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Industry Analysis

KEY

Industry Average

Valuation KEY Industry Range
Price/Earnings 12.7x
Price/Sales 2.9x
Price/Book 1.1x
Price/Cash Flow 12.1x
TEV/Sales NM Not Meaningful
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