KeyCorp (NYSE:KEY) Declares $0.21 Quarterly Dividend

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.205 per share by the financial services provider on Friday, December 13th. This represents a $0.82 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, December 3rd.

KeyCorp has raised its dividend payment by an average of 3.5% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. KeyCorp has a payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 52.9%.

KeyCorp Stock Up 2.0 %

Shares of NYSE:KEY opened at $19.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $17.55 and its 200 day moving average is $15.95. The stock has a market cap of $19.42 billion, a P/E ratio of 1,959.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Sell-side analysts predict that KeyCorp will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on KEY. Evercore ISI lifted their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Wells Fargo & Company raised their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wedbush lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, DA Davidson raised their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.03.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.