KeyCorp Announces Quarterly Dividend of $0.21 (NYSE:KEY)

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.205 per share by the financial services provider on Friday, March 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.60%.

KeyCorp has raised its dividend by an average of 3.0% annually over the last three years. KeyCorp has a dividend payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $1.56 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 52.6%.

KeyCorp Trading Down 1.6 %

Shares of KEY stock opened at $17.85 on Friday. The stock has a 50 day simple moving average of $18.22 and a 200 day simple moving average of $16.94. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a market cap of $17.69 billion, a P/E ratio of 1,784.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. On average, research analysts predict that KeyCorp will post 1.1 earnings per share for the current fiscal year.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KEY has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. UBS Group raised their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays boosted their price target on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their price objective on KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, DA Davidson boosted their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.44.

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.