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

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, November 20th. Investors of record on Tuesday, December 2nd will be paid a dividend of 0.205 per share by the financial services provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, December 2nd.

KeyCorp has raised its dividend payment by an average of 0.0%annually over the last three years. KeyCorp has a dividend payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.1%

KEY opened at $18.38 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $17.91 and its two-hundred day moving average is $17.74. The company has a market capitalization of $20.09 billion, a P/E ratio of 22.69, a PEG ratio of 0.52 and a beta of 1.18. KeyCorp has a 52 week low of $12.73 and a 52 week high of $19.61.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) EPS. Analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEY has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of KeyCorp in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Wells Fargo & Company upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Evercore ISI increased their target price on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price target on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.62.

KeyCorp Company Profile

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.