KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, January 11th, RTT News reports. Shareholders of record on Tuesday, February 27th will be paid 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 yield of 1.98%.
KeyCorp has raised its dividend payment by an average of 15.0% annually over the last three years and has raised its dividend every year for the last 7 years. KeyCorp has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities 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) opened at $21.19 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $22,790.00, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.65 and a beta of 1.09. KeyCorp has a 52-week low of $16.28 and a 52-week high of $21.28.
KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. equities research analysts forecast that KeyCorp will post 1.37 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price target on shares of KeyCorp in a report on Thursday, October 19th. CIBC restated a “buy” rating on shares of KeyCorp in a report on Friday, December 8th. Barclays raised their price target on KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Citigroup raised their price target on KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 9th. Finally, Stephens upgraded KeyCorp from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Thursday, December 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $21.56.
In related news, insider Andrew J. Paine III sold 46,854 shares of KeyCorp stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the completion of the sale, the insider now directly owns 110,052 shares in the company, valued at approximately $2,042,565.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth R. Gile acquired 1,374 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average price 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 disclosure for this purchase can be found here. Insiders sold a total of 57,212 shares of company stock valued at $1,060,508 over the last quarter. 0.65% of the stock is owned by corporate insiders.
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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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