KeyCorp (KEY) to Issue Quarterly Dividend of $0.21 on June 15th

KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, June 2nd will be paid a dividend of 0.205 per share by the financial services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, June 2nd.

KeyCorp has raised its dividend by an average of 0.0%annually 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 $2.16 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 38.0%.

KeyCorp Trading Down 0.1%

KEY stock opened at $21.33 on Friday. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.68 and a beta of 1.06. KeyCorp has a 1-year low of $15.47 and a 1-year high of $23.34. The business has a 50 day simple moving average of $21.13 and a two-hundred day simple moving average of $20.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last posted its earnings results 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 firm 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 period in the prior year, the company earned $0.38 EPS. Research analysts anticipate that KeyCorp will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on KeyCorp from $24.50 to $22.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Jefferies Financial Group increased their target price on KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, April 17th. The Goldman Sachs Group increased their price target on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, April 17th. Robert W. Baird increased their price target on KeyCorp from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, April 17th. Finally, DA Davidson increased their price target on KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, May 4th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.78.

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.