KeyCorp's stock falls after discovery of 'fraudulent activity' by customer [MarketWatch]
KeyCorp (KEY)
Last keycorp earnings: 4/16 06:30 am
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Source: MarketWatch
KeyCorp's stock falls after discovery of 'fraudulent activity' by customer Shares of KeyCorp KEY, -1.57% shed 2% in premarket trading Tuesday, after the regional bank disclosed that it had discovered "fraudulent activity" conducted by a business customer of its KeyBank National Association subsidiary. The bank said while it continues to investigate the activity associated with the transactions, which were conducted in the third quarter of its 2019 fiscal year, it estimates the potential exposure to the bank of up to $90 million. KeyCorp said it was working with law-enforcement authorities and believes the incident is "an isolated occurrence involving a single business relationship." The stock had gained 3.6% over the past three months through Monday, while the SPDR S&P Regional Banking ETF KRE, -1.95% has declined 3.7% and the Dow Jones Industrial Average DJIA, +0.10% has advanced 3.4%.
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KEY
Earnings
- 4/18/24 - Miss
KEY
Sec Filings
- 4/18/24 - Form 8-K
- 4/2/24 - Form 4
- 4/2/24 - Form 4
- KEY's page on the SEC website