KeyCorp (KEY) To Go Ex-Dividend on August 27th

KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Tuesday, August 27th will be given 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 4.80%. The ex-dividend date of this dividend is Tuesday, August 27th.

KeyCorp has increased its dividend by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. KeyCorp has a payout ratio of 50.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect KeyCorp to earn $1.50 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 54.7%.

KeyCorp Stock Up 4.0 %

KEY opened at $17.07 on Friday. The company has a market capitalization of $16.10 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.26. The business has a 50-day moving average of $15.07 and a 200-day moving average of $14.76. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.20. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $0.27 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KEY shares. Royal Bank of Canada restated an “outperform” rating and set a $17.00 target price on shares of KeyCorp in a report on Tuesday, August 13th. DA Davidson boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Evercore ISI reduced their price objective on shares of KeyCorp from $17.50 to $16.50 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Wedbush upped their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.65.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.