KeyCorp stock gains support from higher 2026 guidance

KeyCorp stock (ISIN US4932671088) traded at USD 20.70 on September 17, 2026, with a market capitalization of USD 22.09 billion and a 12-month range of USD 16.47 to USD 24.07. The shares also carry a PEG ratio of 0.82 and a beta of 1.02.

Q2 figures set the tone

In its second-quarter 2026 earnings call, KeyCorp said earnings per share were USD 0.44, up 26% year over year, while revenue rose 7% and net interest margin expanded to 2.89%. The bank also reported USD 1.96 billion in quarterly revenue, USD 1.2 billion in noninterest expense and USD 115 million in net charge-offs.

Those numbers matter because the company raised full-year 2026 guidance on July 21, 2026, to revenue growth of 7% to 8%, net interest income growth of 9% to 11% and average loan growth of 4% to 5%. KeyCorp also said it repurchased more than USD 340 million of stock in the quarter and expects at least USD 1.3 billion in buybacks for the year.

What investors watch next

Management said the bank expects 2026 noninterest expense growth of 3% to 4%, while commercial loans grew USD 2.1 billion sequentially in the quarter and deposits closed June at USD 153 billion. In the same call, KeyCorp pointed to an expected 3% year-end net interest margin and a return on tangible common equity above 15% by the end of 2027.

That mix leaves the stock tied to two variables: whether the margin path stays intact and whether fee income follows through. The bank said investment banking fees were USD 169 million in the quarter and USD 366 million in the first half of 2026, up 4% year over year.

Price and catalyst

KeyCorp closed near USD 20.70 on September 17, 2026, below its 12-month high of USD 24.07 and above its 12-month low of USD 16.47. For investors, the most important test now is whether the higher 2026 guidance can keep supporting the shares while credit costs and funding pressure stay contained.

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