KeyCorp Plans Quarterly Dividend of $0.17 (KEY)

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, January 10th, RTT News reports. Investors of record on Tuesday, March 5th will be paid a dividend of 0.17 per share by the financial services provider on Friday, March 15th. This represents a $0.68 dividend on an annualized basis and a yield of 4.30%.

KeyCorp has increased its dividend payment by an average of 24.9% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. KeyCorp has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 35.6%.

NYSE KEY traded down $0.05 on Thursday, reaching $15.80. The company had a trading volume of 7,014,686 shares, compared to its average volume of 9,412,195. The firm has a market cap of $16.12 billion, a PE ratio of 11.62, a PEG ratio of 0.52 and a beta of 1.17. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. KeyCorp has a 1-year low of $13.65 and a 1-year high of $22.40.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 18th. The financial services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. Equities research analysts forecast that KeyCorp will post 1.73 EPS for the current year.

In other news, Chairman Beth E. Mooney bought 10,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $18.26 per share, with a total value of $182,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 6,963 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $18.37, for a total transaction of $127,910.31. Following the completion of the sale, the director now directly owns 68,088 shares in the company, valued at $1,250,776.56. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

A number of brokerages recently weighed in on KEY. UBS Group set a $23.00 target price on shares of KeyCorp and gave the stock a “buy” rating in a research note on Monday, October 22nd. Nomura reduced their target price on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, October 19th. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a research note on Monday, October 22nd. Finally, Scotiabank reissued a “hold” rating on shares of KeyCorp in a research report on Friday, November 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. KeyCorp currently has a consensus rating of “Hold” and an average target price of $22.42.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

Further Reading: Different Types of Derivatives

Dividend History for KeyCorp (NYSE:KEY)

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