KeyCorp (KEY) is a financial services company based in Cleveland, Ohio, USA, established in 1849. It is one of the largest regional banks in the United States, The company operates in two main segments, the Consumer Bank and the Commercial Bank, and offers a broad range of financial services and products, including personal finance and financial wellness, investment options, student loan refinancing, mortgage and home equity, credit cards, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals, small and medium-sized businesses.
as of March 13, 2023
KeyCorp has made several strategic acquisitions to expand its business and increase its presence in key markets. For example, in 2016, the company acquired First Niagara Financial Group, which added over 400 branches and $40 billion in assets to KeyCorp’s operations. In 2020, KeyCorp acquired Laurel Road, a digital lending platform that specializes in student loan refinancing and personal loans. The stock was hit hard today, down 27% with a lot of the other banks with high rates of mortgage back securities. I’m not sure it’ll stay down at these levels through the next 9 months, and provides a healthy dividend if it keeps the rate unchanged.
