KeyCorp (NYSE:KEY) to Issue $0.21 Quarterly Dividend

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Investors 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 annualized dividend 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% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE KEY traded down $0.30 during midday trading on Thursday, hitting $17.85. The company had a trading volume of 16,414,253 shares, compared to its average volume of 12,312,288. The company has a market capitalization of $17.69 billion, a PE ratio of 1,784.50, a P/E/G ratio of 0.63 and a beta of 1.27. KeyCorp has a twelve month low of $12.94 and a twelve month 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 firm has a 50-day moving average price of $18.22 and a 200-day moving average price of $16.94.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping 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. As a group, analysts anticipate that KeyCorp will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction 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. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KEY. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. UBS Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Barclays raised their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.