KeyCorp (KEY) To Go Ex-Dividend on December 3rd

KeyCorp (NYSE:KEY) declared a quarterly dividend on Thursday, November 21st,RTT News reports. Shareholders of record on Tuesday, December 3rd will be paid a dividend of 0.205 per share by the financial services provider on Friday, December 13th. This represents a $0.82 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, December 3rd.

KeyCorp has raised 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 dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Analysts expect KeyCorp to earn $1.55 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 52.9%.

KeyCorp Stock Down 0.2 %

Shares of NYSE:KEY opened at $19.48 on Friday. The firm has a fifty day moving average price of $17.83 and a two-hundred day moving average price of $16.12. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $12.22 and a one year high of $20.04. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 1,948.00, a PEG ratio of 1.07 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Analysts anticipate that KeyCorp will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KEY shares. Royal Bank of Canada lifted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Evercore ISI lifted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. UBS Group lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their target price on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.26.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 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.