KeyCorp (KEY) to Issue Quarterly Dividend of $0.21 on March 14th

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Tuesday, March 4th.

KeyCorp has increased its dividend by an average of 3.0% per year over the last three years. KeyCorp has a payout ratio of 45.6% meaning its dividend is sufficiently covered by earnings. 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 Up 2.7 %

NYSE KEY opened at $18.32 on Friday. The stock’s 50-day simple moving average is $18.18 and its two-hundred day simple moving average is $16.97. KeyCorp has a twelve month low of $12.94 and a twelve month high of $20.04. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $18.16 billion, a price-to-earnings ratio of 1,832.30, a PEG ratio of 0.63 and a beta of 1.27.

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

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated 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 owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $154,260.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KEY. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Truist Financial started coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Royal Bank of Canada increased their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Evercore ISI boosted their price objective on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.