KeyCorp (KEY) Announces Quarterly Dividend of $0.11

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 11th, RTT News reports. Shareholders of record on Tuesday, February 27th will be paid a dividend of 0.105 per share by the financial services provider on Thursday, March 15th. This represents a $0.42 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, February 26th.

KeyCorp has raised its dividend payment by an average of 15.0% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. KeyCorp has a payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect KeyCorp to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 23.1%.

Shares of KeyCorp (KEY) opened at $20.95 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The company has a market cap of $22,472.15, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. KeyCorp has a 1 year low of $16.28 and a 1 year high of $22.22.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. KeyCorp had a net margin of 18.06% and a return on equity of 10.66%. During the same quarter in the prior year, the firm posted $0.31 earnings per share. equities research analysts expect that KeyCorp will post 1.67 EPS for the current fiscal year.

In other news, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total transaction of $250,680.99. Following the sale, the insider now owns 51,791 shares in the company, valued at approximately $1,098,487.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

KEY has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 price target on shares of KeyCorp in a research report on Thursday, December 14th. ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of KeyCorp from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Deutsche Bank raised shares of KeyCorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $24.00 in a research report on Thursday, January 25th. Finally, Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. KeyCorp has a consensus rating of “Buy” and an average target price of $22.07.

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KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Dividend History for KeyCorp (NYSE:KEY)

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