KeyCorp (NYSE:KEY) to Issue $0.21 Quarterly Dividend

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Shareholders of record on Tuesday, May 28th will be paid a dividend of 0.205 per share by the financial services provider on Friday, June 14th. This represents a $0.82 annualized dividend and a yield of 5.44%.

KeyCorp has raised its dividend by an average of 3.5% per year over the last three years. KeyCorp has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $1.64 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 50.0%.

KeyCorp Price Performance

KeyCorp stock opened at $15.07 on Friday. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 19.08 and a beta of 1.28. The stock’s 50 day moving average is $14.90 and its 200-day moving average is $13.81. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 12 month low of $8.73 and a 12 month high of $15.86.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post 1.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Barclays lowered their price objective on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. Finally, DA Davidson cut their target price on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.71.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 over the last quarter. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Company Profile

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.