KeyCorp Announces Quarterly Dividend of $0.21 (NYSE:KEY)

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 16th, RTT News reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.205 per share by the financial services provider on Friday, March 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Tuesday, March 4th.

KeyCorp has increased its dividend by an average of 3.0% annually over the last three years. KeyCorp has a payout ratio of 46.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $1.73 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 47.4%.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.33 on Friday. The stock has a market cap of $19.15 billion, a P/E ratio of -57.76, a P/E/G ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The company has a fifty day moving average price of $17.48 and a two-hundred day moving average price of $17.48. KeyCorp has a one year low of $13.10 and a one year high of $20.04.

Insider Buying and Selling

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction on Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the completion of the purchase, the director now directly owns 162,983,726 shares of the company’s stock, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup cut shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Thursday, November 7th. DA Davidson dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 price objective on shares of KeyCorp in a research report on Monday, February 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research report on Wednesday, January 22nd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.69.

About KeyCorp

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.