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

KeyCorp (NYSE:KEYGet Free Report) declared a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Tuesday, August 27th will be paid a dividend of 0.205 per share by the financial services provider on Friday, September 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.59%.

KeyCorp has raised its dividend payment by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 13 years. KeyCorp has a payout ratio of 50.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect KeyCorp to earn $1.63 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 50.3%.

KeyCorp Stock Performance

KEY opened at $14.68 on Thursday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day simple moving average of $14.31 and a 200 day simple moving average of $14.46. KeyCorp has a 1 year low of $9.50 and a 1 year high of $15.86. The company has a market capitalization of $13.84 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 0.71 and a beta of 1.26.

KeyCorp (NYSE:KEYGet Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Research analysts expect that KeyCorp will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KEY. Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price target on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Evercore ISI reduced their target price on KeyCorp from $17.50 to $16.50 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and an average price target of $17.24.

Read Our Latest Analysis on KeyCorp

About KeyCorp

(Get Free Report)

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.

Further Reading

Dividend History for KeyCorp (NYSE:KEY)

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