KeyCorp (NYSE:KEY) Plans Quarterly Dividend of $0.20

KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, July 15th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date is Tuesday, September 1st.

KeyCorp has raised its dividend payment 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. Research 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 Stock Up 1.1%

KEY stock opened at $23.55 on Thursday. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.73 and a beta of 1.02. The company has a fifty day moving average price of $22.20 and a 200 day moving average price of $21.49. 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 has a 12 month low of $16.47 and a 12 month high of $23.72.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $0.38 EPS. KeyCorp’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that KeyCorp will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On KeyCorp

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in KeyCorp in the fourth quarter worth $476,000. Woodline Partners LP boosted its position in shares of KeyCorp by 41.4% during the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 24,627 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of KeyCorp by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 1,890 shares during the period. Cresset Asset Management LLC grew its stake in shares of KeyCorp by 6.5% during the 2nd quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock worth $263,000 after purchasing an additional 926 shares during the period. Finally, Federated Hermes Inc. purchased a new position in shares of KeyCorp in the 2nd quarter valued at about $186,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.