KeyCorp (NYSE:KEY) Announces $0.21 Quarterly Dividend

KeyCorp (NYSE:KEY) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, June 2nd will be given a dividend of 0.205 per share by the financial services provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, June 2nd.

KeyCorp has increased its dividend payment by an average of 0.0%per year over the last three years. KeyCorp has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Analysts expect KeyCorp to earn $2.15 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 38.1%.

KeyCorp Price Performance

NYSE KEY opened at $20.74 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $20.72 and a 200 day simple moving average of $20.37. The company has a market cap of $22.48 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.68 and a beta of 1.06. KeyCorp has a 1 year low of $15.28 and a 1 year high of $23.34.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. KeyCorp’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. On average, sell-side analysts predict that KeyCorp will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KEY. Argus increased their price target on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler increased their price target on shares of KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Morgan Stanley reduced their price target on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Jefferies Financial Group increased their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.18.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.