KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Shareholders of record on Tuesday, August 27th will be given a dividend of 0.185 per share by the financial services provider on Friday, September 13th. This represents a $0.74 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, August 26th. This is a boost from KeyCorp’s previous quarterly dividend of $0.17.
KeyCorp has increased its dividend payment by an average of 24.9% per year over the last three years and has increased its dividend every year for the last 8 years. KeyCorp has a dividend payout ratio of 42.5% meaning its dividend is sufficiently covered by earnings. Analysts expect KeyCorp to earn $1.89 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 39.2%.
KEY opened at $15.98 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $17.26 and its two-hundred day moving average price is $17.01. KeyCorp has a 1-year low of $13.65 and a 1-year high of $21.50. The company has a market cap of $16.62 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 2.84 and a beta of 1.24.
KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. KeyCorp had a net margin of 23.15% and a return on equity of 12.82%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts forecast that KeyCorp will post 1.79 earnings per share for the current fiscal year.
In related news, insider Amy G. Brady sold 13,238 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $17.00, for a total transaction of $225,046.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Paine III sold 99,999 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the sale, the insider now owns 85,469 shares of the company’s stock, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
KEY has been the subject of several analyst reports. Credit Suisse Group upgraded shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, August 7th. Jefferies Financial Group increased their target price on shares of KeyCorp from $20.00 to $18.50 and gave the company a “buy” rating in a report on Monday, May 6th. GMP Securities reiterated an “average” rating and issued a $34.50 target price on shares of KeyCorp in a report on Friday, May 17th. Nomura set a $18.00 target price on shares of KeyCorp and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Zacks Investment Research downgraded shares of KeyCorp from a “hold” rating to a “sell” rating and set a $20.00 target price for the company. in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.88.
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.
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