as of 08-24-2026 3:46pm EST
With assets of around $190 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its three largest markets: Ohio, New York, and Washington. KeyCorp is primarily focused on serving middle-market commercial clients through a hybrid community/corporate bank model.
| Founded: | 1825 | Country: | United States |
| Employees: | N/A | City: | CLEVELAND |
| Market Cap: | 25.0B | IPO Year: | 2005 |
| Target Price: | $22.90 | AVG Volume (30 days): | 8.9M |
| Analyst Decision: | Buy | Number of Analysts: | 15 |
| Dividend Yield: | Dividend Payout Frequency: | quarterly | |
| EPS: | 0.88 | EPS Growth: | 575.00 |
| 52 Week Low/High: | $16.47 - $24.07 | Next Earning Date: | 04-16-2026 |
| Revenue: | $7,513,000,000 | Revenue Growth: | 62.65% |
| Revenue Growth (this year): | 15.33% | Revenue Growth (next year): | 6.06% |
| P/E Ratio: | 24.85 | Index: | |
| Free Cash Flow: | 2.1B | FCF Growth: | N/A |
SEC 8-K filings with transcript text
Jul 21, 2026 · 100% conf.
1D
+1.49%
$23.31
Act: +0.61%
5D
+5.07%
$24.13
Act: -1.48%
20D
+5.55%
$24.24
4 a2q26erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
6/30/20263/31/20266/30/2025
Assets
Loans$110,430 $109,190 $106,389
Loans held for sale 1,198 876 530
Securities available for sale38,459 38,918 40,669
Held-to-maturity securities9,515 9,116 6,914
Trading account assets936 783 1,374
Short-term investments12,416 11,782 11,564
Other investments1,230 1,204 1,058
Total earning assets174,184 171,869 168,498
Allowance for loan and lease losses(1,445)(1,449)(1,446)
Cash and due from banks1,711 1,130 1,766
Premises and equipment620 618 599
Goodwill2,752 2,752 2,752
Other intangible assets3 5 18
Corporate-owned life insurance4,456 4,439 4,423
Accrued income and other assets8,848 9,100 8,654
Discontinued assets188 199 235
Total assets$191,317 $188,663 $185,499
Liabilities
Deposits in domestic offices:
Interest-bearing deposits122,196 120,220 119,230
Noninterest-bearing deposits30,893 27,595 27,675
Total deposits153,089 147,815 146,905
Federal funds purchased and securities sold under repurchase agreements 5 34 20
Bank notes and other short-term borrowings3,680 6,149 2,754
Accrued expense and other liabilities3,778 3,801 4,273
Long-term debt10,967 10,877 12,063
Total liabilities171,519 168,676 166,015
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,014 5,981 5,971
Retained earnings15,873 15,622 14,886
Treasury stock, at cost(3,492)(3,152)(2,629)
Accumulated other comprehensive income (loss)(2,354)(2,221)(2,501)
Total equity19,798 19,987 19,484
Total liabilities and equity$191,317 $188,663 $185,499
Common shares outstanding (000)1,072,035 1,087,293 1,112,453
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedSix months ended
6/30/20263/31/20266/30/20256/30/20266/30/2025
Interest income
Loans$1,463 $1,416 $1,443 $2,879 $2,844
Loans held for sale15 14 11 29 25
Securities available for sale367 370 411 737 803
Held-to-maturity securities95 86 61 181 124
Trading account assets10 11 16 21 33
Short-term investments101 103 157 204 331
Other investments8 5 8 13 17
Total interest income2,059 2,005 2,107 4,064 4,177
Interest expense
Deposits600 598 730 1,198 1,483
Federal funds purchased and securities sold under repurchase agreements19 14 4 33 5
Bank notes and other short-term borrowings35 20 34 55 61
Long-term debt155 151 198 306 391
Total interest expense809 783 966 1,592 1,940
Net interest income1,250 1,222 1,141 2,472 2,237
Provision for credit losses92 106 138 198 256
Net interest income after provision for credit losses1,158 1,116 1,003 2,274 1,981
Noninterest income
Trust and investment services income159 157 146 316 285
Investment banking and debt placement fees169 197 178 366 353
Service charges on deposit accounts77 77 73 154 142
Operating lease income and other leasing gains10 8 14 18 23
Corporate services income80 71 76 151 141
Cards and payments income94 86 85 180 167
Corporate-owned life insurance income33 34 32 67 65
Consumer mortgage income17 13 15 30 28
Commercial mortgage servicing fees49 62 70 111 146
Other income15 18 1 33 8
Net securities gains (losses)3 — — 3 —
Total noninterest income706 723 690 1,429 1,358
Noninterest expense
Personnel786 743 705 1,529 1,385
Net occupancy68 68 69 136 136
Computer processing108 111 107 219 214
Business services and professional fees46 36 48 82 88
Equipment22 19 21 41 41
Operating lease expense7 7 10 14 21
Marketing22 18 24 40 45
Other expense158 179 170 337 355
Total noninterest expense1,217 1,181 1,154 2,398 2,285
Income (loss) from continuing operations before income taxes647 658 539 1,305 1,054
Income taxes139 136 116 275 225
Income (loss) from continuing operations508 522 423 1,030 829
Income (loss) from discontinued operations, net of taxes1 — 2 1 1
Net income (loss)509 522 425 1,031 830
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$509 $522 $425 $1,031 $830
Income (loss) from continuing operations attributable to Key common shareholders$472 $486 $387 $958 $757
Net income (loss) attributable to Key common shareholders473 486 389 959 758
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.45 $.35 $.89 $.69
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .44 .45 .35 .89 .69
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.44 $.35 $.88 $.69
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .44 .44 $.35 .88 .69
Cash dividends declared per common share$.205 $.205 $.205 $.41 $.41
Weighted-average common shares outstanding (000)1,071,229 1,084,277 1,100,033 1,077,977 1,098,453
Effec
Apr 16, 2026
4 a1q26erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
3/31/202612/31/20253/31/2025
Assets
Loans$109,190 $106,541 $104,809
Loans held for sale 876 1,077 811
Securities available for sale38,918 39,596 40,751
Held-to-maturity securities9,116 8,622 7,160
Trading account assets783 1,061 1,296
Short-term investments11,782 10,163 15,349
Other investments1,204 949 1,050
Total earning assets171,869 168,009 171,226
Allowance for loan and lease losses(1,449)(1,427)(1,429)
Cash and due from banks1,130 1,287 1,909
Premises and equipment618 628 602
Goodwill2,752 2,752 2,752
Other intangible assets5 8 22
Corporate-owned life insurance4,439 4,432 4,404
Accrued income and other assets9,100 8,481 8,958
Discontinued assets199 211 247
Total assets$188,663 $184,381 $188,691
Liabilities
Deposits in domestic offices:
Interest-bearing deposits120,220 121,100 122,283
Noninterest-bearing deposits27,595 27,613 28,454
Total deposits147,815 148,713 150,737
Federal funds purchased and securities sold under repurchase agreements 34 13 22
Bank notes and other short-term borrowings6,149 1,071 2,328
Accrued expense and other liabilities3,801 4,286 4,209
Long-term debt10,877 9,917 12,392
Total liabilities168,676 164,000 169,688
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus5,981 6,035 5,946
Retained earnings15,622 15,359 14,724
Treasury stock, at cost(3,152)(2,810)(2,637)
Accumulated other comprehensive income (loss)(2,221)(1,960)(2,787)
Total equity19,987 20,381 19,003
Total liabilities and equity$188,663 $184,381 $188,691
Common shares outstanding (000)1,087,293 1,102,401 1,111,986
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months ended
3/31/202612/31/20253/31/2025
Interest income
Loans$1,416 $1,439 $1,401
Loans held for sale14 18 14
Securities available for sale370 388 392
Held-to-maturity securities86 76 63
Trading account assets11 12 17
Short-term investments103 137 174
Other investments5 8 9
Total interest income2,005 2,078 2,070
Interest expense
Deposits598 688 753
Federal funds purchased and securities sold under repurchase agreements14 4 1
Bank notes and other short-term borrowings20 9 27
Long-term debt151 162 193
Total interest expense783 863 974
Net interest income1,222 1,215 1,096
Provision for credit losses106 108 118
Net interest income after provision for credit losses1,116 1,107 978
Noninterest income
Trust and investment services income157 156 139
Investment banking and debt placement fees197 243 175
Service charges on deposit accounts77 78 69
Operating lease income and other leasing gains8 9 9
Corporate services income71 81 65
Cards and payments income86 84 82
Corporate-owned life insurance income34 40 33
Consumer mortgage income13 16 13
Commercial mortgage servicing fees62 68 76
Other income18 7 7
Net securities gains (losses)— — —
Total noninterest income723 782 668
Noninterest expense
Personnel743 790 680
Net occupancy68 69 67
Computer processing111 106 107
Business services and professional fees36 61 40
Equipment19 22 20
Operating lease expense7 8 11
Marketing18 28 21
Intangible asset amortization— — —
Other expense179 157 185
Total noninterest expense1,181 1,241 1,131
Income (loss) from continuing operations before income taxes658 648 515
Income taxes136 139 109
Income (loss) from continuing operations522 509 406
Income (loss) from discontinued operations, net of taxes— 1 (1)
Net income (loss)522 510 405
Less: Net income (loss) attributable to noncontrolling interests— — —
Net income (loss) attributable to Key$522 $510 $405
Income (loss) from continuing operations attributable to Key common shareholders$486 $474 $370
Net income (loss) attributable to Key common shareholders486 475 369
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.45 $.43 $.34
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .45 .43 .34
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.44 $.43 $.33
Income (loss) from discontinued operations, net of taxes— — —
Net income (loss) attributable to Key common shareholders (a) .44 .43 $.33
Cash dividends declared per common share$.205 $.205 $.205
Weighted-average common shares outstanding (000)1,084,277 1,095,171 1,096,654
Effect of common share options and other stock awards (b) 10,091 11,152 9,486
Weighted-average common shares and potential common shares outstanding (000) (c)
1,094,368 1,106,323 1,106,140
(a)Earnings per share may not foot due to rounding.
(b)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.
(c)Assumes convers
Jan 20, 2026
4 a4q25erex993.htm
Document
Exhibit 99.3
Consolidated Balance Sheets
(dollars in millions)
12/31/20259/30/202512/31/2024
Assets
Loans$106,541 $105,902 $104,260
Loans held for sale 1,077 998 797
Securities available for sale39,596 40,456 37,707
Held-to-maturity securities8,622 7,509 7,395
Trading account assets1,061 972 1,283
Short-term investments10,163 13,334 17,504
Other investments949 921 1,041
Total earning assets168,009 170,092 169,987
Allowance for loan and lease losses(1,427)(1,444)(1,409)
Cash and due from banks1,287 1,938 1,743
Premises and equipment628 606 614
Goodwill2,752 2,752 2,752
Other intangible assets8 13 27
Corporate-owned life insurance4,432 4,428 4,394
Accrued income and other assets8,481 8,803 8,797
Discontinued assets211 221 263
Total assets$184,381 $187,409 $187,168
Liabilities
Deposits in domestic offices:
Interest-bearing deposits121,100 122,425 120,132
Noninterest-bearing deposits27,613 28,340 29,628
Total deposits148,713 150,765 149,760
Federal funds purchased and securities sold under repurchase agreements 13 10 14
Bank notes and other short-term borrowings1,071 1,339 2,130
Accrued expense and other liabilities4,286 4,276 4,983
Long-term debt9,917 10,917 12,105
Total liabilities164,000 167,307 168,992
Equity
Preferred stock2,500 2,500 2,500
Common shares1,257 1,257 1,257
Capital surplus6,035 6,002 6,038
Retained earnings15,359 15,111 14,584
Treasury stock, at cost(2,810)(2,619)(2,733)
Accumulated other comprehensive income (loss)(1,960)(2,149)(3,470)
Total equity20,381 20,102 18,176
Total liabilities and equity$184,381 $187,409 $187,168
Common shares outstanding (000)1,102,401 1,112,952 1,106,786
Consolidated Statements of Income
(dollars in millions, except per share amounts)
Three months endedTwelve months ended
12/31/20259/30/202512/31/202412/31/202512/31/2024
Interest income
Loans$1,439 $1,466 $1,448 $5,749 $6,026
Loans held for sale18 18 20 61 60
Securities available for sale388 408 353 1,599 1,142
Held-to-maturity securities76 64 66 264 284
Trading account assets12 11 16 56 61
Short-term investments137 156 214 624 792
Other investments8 8 15 33 62
Total interest income2,078 2,131 2,132 8,386 8,427
Interest expense
Deposits688 748 821 2,919 3,307
Federal funds purchased and securities sold under repurchase agreements4 4 1 13 4
Bank notes and other short-term borrowings9 14 24 84 164
Long-term debt162 181 235 734 1,187
Total interest expense863 947 1,081 3,750 4,662
Net interest income1,215 1,184 1,051 4,636 3,765
Provision for credit losses108 107 39 471 335
Net interest income after provision for credit losses1,107 1,077 1,012 4,165 3,430
Noninterest income
Trust and investment services income156 150 142 591 557
Investment banking and debt placement fees243 184 221 780 688
Service charges on deposit accounts78 75 65 295 261
Operating lease income and other leasing gains9 11 15 43 76
Corporate services income81 72 69 294 275
Cards and payments income84 86 85 337 331
Corporate-owned life insurance income40 35 36 140 138
Consumer mortgage income16 14 16 58 58
Commercial mortgage servicing fees68 73 68 287 258
Other income7 8 (5)23 23
Net securities gains (losses)— (6)(908)(6)(1,856)
Total noninterest income782 702 (196)2,842 809
Noninterest expense
Personnel790 742 734 2,917 2,714
Net occupancy69 65 67 270 266
Computer processing106 105 107 425 414
Business services and professional fees61 44 55 193 174
Equipment22 20 20 83 80
Operating lease expense8 9 15 38 63
Marketing28 22 33 95 94
Intangible asset amortization— — — — —
Other expense157 170 198 682 740
Total noninterest expense1,241 1,177 1,229 4,703 4,545
Income (loss) from continuing operations before income taxes648 602 (413)2,304 (306)
Income taxes139 112 (169)476 (143)
Income (loss) from continuing operations509 490 (244)1,828 (163)
Income (loss) from discontinued operations, net of taxes1 (1)— 1 2
Net income (loss)510 489 (244)1,829 (161)
Less: Net income (loss) attributable to noncontrolling interests— — — — —
Net income (loss) attributable to Key$510 $489 $(244)$1,829 $(161)
Income (loss) from continuing operations attributable to Key common shareholders$474 $454 $(279)$1,685 $(306)
Net income (loss) attributable to Key common shareholders475 453 (279)1,686 (304)
Per common share
Income (loss) from continuing operations attributable to Key common shareholders$.43 $.41 $(.28)$1.53 $(.32)
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .43 .41 (.28)1.53 (.32)
Per common share — assuming dilution
Income (loss) from continuing operations attributable to Key common shareholders$.43 $.41 $(.28)$1.52 $(.32)
Income (loss) from discontinued operations, net of taxes— — — — —
Net income (loss) attributable to Key common shareholders (a) .43 .41 $(.28)1.52 (.32)
Cash dividends declared per common share$.205 $.205 $.205 $.82 $
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