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

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Tuesday, March 4th will be given 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 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. 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 Stock Down 1.6 %

Shares of NYSE KEY traded down $0.30 during mid-day trading on Thursday, reaching $17.85. 16,414,253 shares of the company’s stock were exchanged, compared to its average volume of 12,312,288. 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 market capitalization of $17.69 billion, a price-to-earnings ratio of 1,784.50, a PEG ratio of 0.63 and a beta of 1.27. The business has a fifty day simple moving average of $18.22 and a 200 day simple moving average of $16.94.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. As a group, equities analysts expect that KeyCorp will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred 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 completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Barclays increased their price objective on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Wedbush upped their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, DA Davidson lifted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price 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.