KeyCorp (NYSE:KEY) Announces $0.21 Quarterly Dividend

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Investors of record on Tuesday, December 3rd will be given 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 4.26%.

KeyCorp has raised its dividend payment by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 13 years. KeyCorp has a dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

KEY opened at $19.25 on Friday. 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 capitalization of $19.08 billion, a P/E ratio of 1,925.00, a PEG ratio of 1.05 and a beta of 1.24. The stock has a 50-day moving average price of $17.48 and a 200-day moving average price of $15.92. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.00.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share 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 during the quarter, compared to the consensus estimate of $1.59 billion. Equities analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $19.00 price objective on shares of KeyCorp in a research note on Thursday, October 17th. Barclays raised their price objective on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. UBS Group increased 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. Finally, Wedbush lifted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $18.03.

Insiders Place Their Bets

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