KeyCorp (KEY) to Issue Quarterly Dividend of $0.20 on September 15th

KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.205 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 1st.

KeyCorp has raised its dividend payment by an average of 0.0%annually over the last three years. KeyCorp has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Analysts expect KeyCorp to earn $2.14 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 38.3%.

KeyCorp Trading Down 0.5%

Shares of KeyCorp stock opened at $21.91 on Friday. The firm’s 50 day moving average is $22.85 and its 200 day moving average is $21.77. The firm has a market capitalization of $23.38 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. KeyCorp had a net margin of 17.83% and a return on equity of 11.23%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts forecast that KeyCorp will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. N.E.W. Advisory Services LLC acquired a new stake in shares of KeyCorp during the 2nd quarter worth approximately $30,000. Silvant Capital Management LLC acquired a new position in shares of KeyCorp during the 2nd quarter valued at $30,000. DV Equities LLC bought a new position in KeyCorp during the fourth quarter worth $27,000. Keating Financial Advisory Services Inc. bought a new position in KeyCorp during the second quarter worth $31,000. Finally, Smithfield Trust Co acquired a new stake in KeyCorp in the fourth quarter worth $31,000. 79.69% of the stock is owned by institutional investors and hedge funds.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.