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KeyCorpKEY

Sector
Financial Services
Industry
National Commercial Banks
Exchange
NYSE

Stock Price $KEY

Latest filings

You are here#74 of 80 in Financials by market cap

Filing record · 2016–202610-K1110-Q348-K141

KEY filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’16Aug ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Jan ’26Jan ’26

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  12. $7.51B
YoY changeLargest recent move−28.0%in FY24Latest +62.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All KEY Financial Metrics47 metrics

Income Statement10

Balance Sheet17

Cash Flow15

Per Share5

02—Overview

KeyCorp Financial Overview 2021–2025

Updated Nov 4, 2026

KeyCorp went from a $304 million loss in FY2024 to $1.69 billiona of net income for common shareholders in FY2025. The 2024 hole came from a $1.8 billion securities repositioning loss, so the swing says more about a one-time cleanup than about broken earnings. The thesis is simple: the repositioning worked, and a recovering net interest margin is now carrying the results.

The long arc is a round trip. Net interest margin was 2.50% in FY2021, sank to 2.16% in FY2024, and recovered to 2.69% in FY2025. Diluted EPS tells the other half of the story: $2.63b in FY2021 versus $1.53 in FY2025. Earnings have not yet returned to their starting point. In FY2025, net interest income climbed $861 million to $4.67 billion, and noninterest income reached $2.84 billion from $809 million a year earlier. Total assets barely moved, at $184.4 billion against $186.3 billion in FY2021, so the gain came from better spreads, not a bigger balance sheet.

Credit stayed steady. Net charge-offs ran 41 basis points, and nonperforming loans fell to $615 millionc from $758 million. The Common Equity Tier 1 ratio sat at 11.78%, and buybacks restarted with $200 million repurchased in Q4 2025 under a $1.0 billion program. The stock closed at $20.64 on the last trading day of FY2025, or 13.6x earnings.

Recent Developments (Q1 and Q2 2026)

KeyCorp posted Q2 2026 diluted EPS of $0.44d, flat from Q1 2026 and up from $0.35 a year earlier. Net interest margin reached 2.89%, and net interest income (TE) hit $1.26 billion. Management raised its 2026 outlook and authorized a new $3.0 billion buyback in May 2026. Moody's upgraded the issuer rating to Baa1 on July 15, 2026. The Clearwater UK acquisition closed in August 2026. Nonperforming assets rose to $818 million from $692 million in Q1 2026, and noninterest expense grew 5.5%.

Bull case: margin expansion toward 3.25%, loan growth of $110.4 billione, and buybacks of $341 million support earnings. Bear case: rising problem assets and a CET1 ratio down to 11.17% leave less cushion. The stock traded at 15.1x earnings as of the Q2 2026 filing date of August 3, 2026, not today.

What to watch: nonperforming asset trends after the Q2 2026 rise; expense growth against the raised revenue outlook

03—Filings

Recent SEC Filings

  1. 8-KKeyCorp 8-K Report, Corporate Update (Nov 2, 2026)KeyCorp (KEY) filed a Form 8-K dated November 2, 2026 to report that it issued $1,000,000,000 aggregate principal amount of its 5.889% Fixed-to-Floating Rate Senior Medium Term Notes, Series U, due November 2, 2032. The Notes were registered under the Securities Act of 1933 pursuant to a Registration Statement on Form S-3 (File No. 333-296536). The filing is a routine disclosure of a debt issuance under Item 8.01 (Other Events). It contains no earnings, guidance, or other operating results. The issuance adds $1.0 billion of senior unsecured debt with a fixed rate of 5.889% for the first period, converting to a floating rate thereafter, with a maturity date of November 2, 2032. In connection with the sale, Squire Patton Boggs (US) LLP provided a legal opinion on the validity of the Notes, filed as Exhibit 5.1, and the filing includes the cover page interactive data file as Exhibit 104. The 8-K was signed by Andrea R. McCarthy, Assistant Secretary.
  2. 8-KKeyCorp 8-K Report, Financial Results (Oct 20, 2026)KeyCorp reported third-quarter 2026 net income from continuing operations attributable to Key common shareholders of $537 million, or $0.51 per diluted common share, up from $472 million, or $0.44 per diluted share, in the second quarter of 2026 and $454 million, or $0.41 per diluted share, in the third quarter of 2025. Record revenue was $2.04 billion, up 8% year-over-year and 4% sequentially, and the net interest margin was 2.95%, up 20 basis points year-over-year and 6 basis points sequentially. Return on average tangible common equity from continuing operations was 15.11%, and management reiterated its goal of a return on tangible common equity of 15%+ by the end of 2027. Average deposits rose $3.6 billion sequentially to $151.2 billion, while average loans held for investment rose $1.5 billion to $111.6 billion. Investment banking and debt placement fees increased 27% sequentially to $214 million. Credit quality improved, with net charge-offs of $89 million (0.32% of average total loans) versus $115 million in the prior quarter, and nonperforming assets of $627 million versus $818 million at June 30, 2026. The Common Equity Tier 1 ratio was an estimated 11.1% at September 30, 2026, compared with 11.2% at June 30, 2026, and the company repurchased $320 million of common shares during the quarter. The supplemental presentation states that KeyCorp expects to repurchase $1.3 billion of shares in 2026 and gives updated 2026 outlook figures, including GAAP tax rate of about 22% and ROTCE of 16% to 19%. The filing furnishes the earnings press release, supplemental information package, and financial statements, including consolidated balance sheets and income statements, under Item 2.02. Tangible book value per share was $12.35, down from $13.62 at June 30, 2026, and the company reported period-end book value of $15.01.
  3. 8-KKeyCorp 8-K Report, Regulation FD Disclosure (Sep 25, 2026)KeyCorp filed this Form 8-K under Item 7.01 (Regulation FD Disclosure) to furnish an investor presentation, KeyCorp Investor Meetings: Europe, posted to its website on September 25, 2026 and attached as Exhibit 99.1. The filing states the presentation may be used in conversations with investors and analysts, and that the information is furnished rather than filed for purposes of Section 18 of the Exchange Act. The presentation reports 2Q26 results: 1H26 diluted EPS of $0.88 (up 28% versus 1H25), revenue of $3,917 million (up 8%), noninterest expense of $2,398 million, a 13.0% return on tangible common equity for 1H26, and a marked CET1 ratio of 9.8%. Management reiterates a 3.25%+ net interest margin and 15%+ ROTCE target by 4Q27, with a 2026 outlook calling for net interest income up 9 to 11% and noninterest income up 4 to 5% on a GAAP basis. Management also expects to repurchase at least $1.3 billion of shares in 2026 and cites a $3.0 billion board-authorized repurchase program. The presentation emphasizes fee-based growth, including Investment Banking, Wealth (record $74 billion AUM at 6/30/2026), Commercial Payments and CRE servicing, alongside credit metrics showing a 42 bps 2Q26 net charge-off ratio against a 10-year average of 30 bps. It also describes the completed Clearwater Corporate Finance LLP acquisition (closed August 2026) and projects $60 to $70 million of revenue from it in 2027.
  4. 8-KKeyCorp 8-K Report, Regulation FD Disclosure (Sep 14, 2026)KeyCorp filed this Form 8-K to furnish the slides it will use at the Barclays Global Financial Services Conference on September 14, 2026, where management will review its performance, strategy, and outlook. The information is furnished under Item 7.01 (Regulation FD) and is not deemed filed under Section 18 of the Exchange Act. A live audio webcast and a later recording are available at www.key.com/ir. The presentation, delivered by Chief Financial Officer Clark Khayat, updates full-year 2026 guidance against 2025 baselines on an operating basis. Revenue is expected to be up about 8%, previously up 7% to 8%. Net interest income is guided up 9% to 11%, and the fourth-quarter 2026 exit net interest margin is expected at 3.00% to 3.05%. Noninterest income is now guided up 4% to 5%, previously 3% to 4%, while adjusted noninterest income is up 6% to 7%, previously 5% to 6%. Adjusted noninterest expense is guided up about 4%, previously 3% to 4%. Credit and balance sheet guidance includes average loans up 4% to 5% and average commercial loans up 8% to 10%, with net charge-offs of 40 to 45 basis points of average loans. The slides also list a GAAP tax rate of about 22% and a tax-equivalent effective rate of about 23%. Selected items show no items in the first and second quarters of 2026, and small FDIC special assessment charges in the third and fourth quarters of 2025.
  5. 8-KKeyCorp 8-K Report, Corporate Update (Aug 14, 2026)KeyCorp (NYSE: KEY) filed a Form 8-K on August 14, 2026 to disclose that it has given notice of its intention to redeem all 525,000 depositary shares of its Series D Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock on September 15, 2026. The filing states that 525,000 depositary shares, representing 21,000 shares of Preferred Stock, are outstanding, with an aggregate liquidation preference of $525,000,000. Each share will be redeemed for cash at $25,312.50 ($1,012.50 per depositary share), equal to the $25,000 per share liquidation preference plus accumulated and unpaid dividends and distributions through the redemption date. Once redeemed, the Preferred Stock will no longer be outstanding and holders' rights will terminate, except the right to receive the redemption price. The shares are held in book-entry form through the Depository Trust Company and will be redeemed under DTC procedures. Computershare, KeyCorp's transfer agent, will act as redemption agent. The accompanying press release (Exhibit 99.1) also states that KeyCorp had approximately $191 billion in assets at June 30, 2026, and operates approximately 950 branches and 1,100 ATMs across 15 states. The filing is a routine capital-management notice and does not disclose new financial results or changes to guidance.
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04—See also

Related Companies

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