KeyCorp to Issue Quarterly Dividend of $0.11 (KEY)
KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, January 11th, RTT News reports. Stockholders of record on Tuesday, February 27th will be given a dividend of 0.105 per share by the financial services provider on Thursday, March 15th. This represents a $0.42 annualized dividend and a dividend yield of 1.98%.
KeyCorp has raised its dividend payment by an average of 15.0% per year over the last three years and has increased its dividend every year for the last 7 years. KeyCorp has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KeyCorp to earn $1.54 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 27.3%.
KeyCorp (NYSE:KEY) traded up $0.18 during trading hours on Thursday, hitting $21.19. The stock had a trading volume of 6,490,000 shares, compared to its average volume of 9,930,000. KeyCorp has a 12 month low of $16.28 and a 12 month high of $21.28. The company has a market capitalization of $22,790.00, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. equities analysts expect that KeyCorp will post 1.37 EPS for the current fiscal year.
Several research firms have recently issued reports on KEY. Zacks Investment Research cut KeyCorp from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Wednesday, January 3rd. Barclays increased their price target on KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $21.50 target price on shares of KeyCorp in a research note on Thursday, December 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 target price on shares of KeyCorp in a research note on Thursday, December 14th. Finally, Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $21.56.
In related news, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the acquisition, the director now directly owns 24,989 shares in the company, valued at approximately $455,549.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $18.39, for a total value of $139,764.00. Following the sale, the director now directly owns 68,725 shares of the company’s stock, valued at $1,263,852.75. The disclosure for this sale can be found here. Insiders have sold 57,212 shares of company stock valued at $1,060,508 in the last ninety days. Company insiders own 0.65% of the company’s stock.
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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.
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