KeyCorp (KEY) to Issue Quarterly Dividend of $0.20 on September 15th

KeyCorp (NYSE:KEY) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Tuesday, September 1st will be paid a dividend of 0.205 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, September 1st.

KeyCorp has raised its dividend by an average of 0.0%per year over the last three years. KeyCorp has a 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 Trading Up 1.7%

KeyCorp stock opened at $23.94 on Friday. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02. KeyCorp has a 1 year low of $16.47 and a 1 year high of $24.04. The firm’s 50 day moving average price is $22.25 and its two-hundred day moving average price is $21.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on KEY. JPMorgan Chase & Co. upped their target price on KeyCorp from $22.50 to $24.50 and gave the company a “neutral” rating in a report on Monday, July 6th. UBS Group upped their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their price target on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Evercore restated an “outperform” rating on shares of KeyCorp in a report on Tuesday, April 21st. Finally, Weiss Ratings raised shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.34.

About KeyCorp

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.