KeyCorp Declares Quarterly Dividend of $0.09 (KEY)
KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, November 17th. Stockholders of record on Tuesday, November 29th will be paid a dividend of 0.085 per share by the financial services provider on Thursday, December 15th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.00%.
Shares of KeyCorp (NYSE:KEY) opened at 17.00 on Friday. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 19.59 and a beta of 1.00. KeyCorp has a 52 week low of $9.88 and a 52 week high of $17.12. The stock has a 50 day moving average of $13.69 and a 200-day moving average of $12.43.
KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, October 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. KeyCorp had a net margin of 15.72% and a return on equity of 8.44%. The company earned $1.34 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. The company’s revenue was up 25.2% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post $1.10 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in KEY. Cetera Advisors LLC bought a new position in shares of KeyCorp during the third quarter worth $187,000. Highbridge Capital Management LLC bought a new position in shares of KeyCorp during the second quarter worth $177,000. Bank of Nova Scotia increased its position in shares of KeyCorp by 7.1% in the second quarter. Bank of Nova Scotia now owns 16,692 shares of the financial services provider’s stock worth $184,000 after buying an additional 1,110 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of KeyCorp by 17.7% in the second quarter. Pacer Advisors Inc. now owns 16,861 shares of the financial services provider’s stock worth $186,000 after buying an additional 2,532 shares in the last quarter. Finally, Veritable L.P. increased its position in shares of KeyCorp by 10.9% in the second quarter. Veritable L.P. now owns 19,662 shares of the financial services provider’s stock worth $217,000 after buying an additional 1,932 shares in the last quarter. 70.15% of the stock is owned by institutional investors.
Several research analysts have recently commented on KEY shares. Citigroup Inc. increased their price target on shares of KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. Zacks Investment Research upgraded shares of KeyCorp from a “strong sell” rating to a “hold” rating in a research note on Monday, August 1st. Piper Jaffray Cos. lowered shares of KeyCorp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $14.50 to $13.00 in a research note on Monday, August 29th. Wedbush started coverage on shares of KeyCorp in a research note on Thursday, October 6th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Susquehanna lowered shares of KeyCorp from a “positive” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $14.84.
KeyCorp Company Profile
KeyCorp is a bank holding company. The Bank operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, the Company provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate and institutional clients.
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