KeyCorp (NYSE:KEY) Plans $0.21 Quarterly Dividend

by · The Cerbat Gem

KeyCorp (NYSE:KEYGet Free Report) 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 annualized dividend and a dividend yield of 4.60%.

KeyCorp has increased its dividend payment by an average of 3.0% per year over the last three years. KeyCorp has a dividend payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

KEY opened at $17.85 on Friday. KeyCorp has a 1-year low of $12.94 and a 1-year high of $20.04. The company has a market cap 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 company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average price is $18.22 and its two-hundred day moving average price is $16.94.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. On average, analysts expect that KeyCorp will post 1.1 EPS for the current fiscal year.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s 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 sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Truist Financial assumed coverage on KeyCorp in a report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.44.

Check Out Our Latest Stock Report on KEY

About KeyCorp

(Get Free Report)

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.

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