KeyCorp (KEY) Stock Price & How to Invest

KeyCorp (NYSE: KEY) is the Cleveland, Ohio holding company for KeyBank National Association, one of the larger regional banks in the United States, with roughly $189 billion in assets as of early 2026. It operates through two segments: the Consumer Bank, which offers deposits, mortgages, home equity, credit cards, student-loan refinancing (through its national Laurel Road digital brand), and financial-wellness services to individuals and small businesses across a 15-state branch footprint, and the Commercial Bank, which serves middle-market clients in seven industry verticals (consumer, energy, healthcare, industrial, public sector, real estate, and technology) with lending, treasury management, and capital-markets services. Like other banks, KeyCorp makes money in two broad ways: net interest income, the spread between what it earns on loans and securities and what it pays on deposits, and noninterest fee income from investment banking, payments, wealth management, and service charges.

KeyCorp's recent story is a recovery. In 2024 the bank repositioned its securities portfolio (selling low-yielding bonds at a loss to reinvest at higher rates), a move funded in part by a roughly $2.8 billion minority investment from The Bank of Nova Scotia (Scotiabank), which now holds a strategic stake of about 14.9%. That repositioning, plus a more favorable rate environment, drove net interest income and the net interest margin sharply higher through 2025 and into 2026. In the first quarter of 2026 KeyCorp reported net income to common shareholders of about $486 million, or $0.44 per diluted share, up roughly 33% year over year, on revenue of about $1.95 billion, with net interest income up about 11% to roughly $1.23 billion, a net interest margin of about 2.87%, record investment-banking fees, a Common Equity Tier 1 ratio of about 11.4%, and continued share buybacks. The stock carries a market capitalization of roughly $25 billion and pays a quarterly dividend.

KeyCorp is highly sensitive to interest rates: net interest income is its largest revenue line, so falling rates, an inverted yield curve, or deposit repricing can compress the net interest margin and earnings. As an economically cyclical regional bank, it is exposed to the credit cycle, where a recession or rising unemployment would increase loan losses; commercial real estate and leveraged commercial lending are areas investors watch closely, though credit metrics were healthy in early 2026 (net charge-offs around 38 basis points). Deposit competition from larger banks, online banks, and money-market funds can raise funding costs. The 2024 securities repositioning was executed at a realized loss, and any renewed rate volatility could pressure the securities book again. Finally, regional banks broadly face heightened regulatory scrutiny and capital requirements after the 2023 regional-bank stress, and Scotiabank's large minority stake, while a source of capital, concentrates a significant block of ownership with a single strategic holder.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see KeyCorp's investor relations page or your broker.

• Total Assets: ~$189 billion (Q1 2026)
• Q1 2026 Total Revenue: ~$1.95 billion (up ~10% YoY)
• Q1 2026 Net Income to Common: ~$486 million
• Q1 2026 Diluted EPS: ~$0.44 (up ~33% YoY)
• Net Interest Income (Q1 2026): ~$1.23 billion, NIM ~2.87%
• CET1 Ratio (Q1 2026): ~11.4%
• Dividend: ~$0.82/yr, yield ~3.7%, paid quarterly
• Market Capitalization: ~$25 billion (mid-2026)

KeyCorp trades as a mid-cap regional bank, with a market value near $25 billion on roughly 1.08 billion shares and a dividend yield around 3.7%. Earnings have been recovering sharply off a weak 2024, so year-over-year growth rates look large partly because of the low base. As with all banks, valuation multiples like price-to-book and price-to-earnings are best read against peer regional banks and the direction of interest rates and credit costs.

There are three common ways to get KEY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so KEY sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where KEY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

KeyCorp is a mid-cap U.S. regional bank in the middle of an earnings recovery, with Scotiabank as a ~14.9% strategic shareholder, net interest income and fees growing double digits into 2026, and a dividend yield near 3.7%, while remaining an economically cyclical stock that moves with interest rates, loan credit quality, and the broader economy.

Whether KEY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is KEY a buy?, and where the stock could go from here in the KEY stock forecast.

For income investors, whether KEY pays a dividend and how the payout looks is covered in does KEY pay a dividend?