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 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, December 3rd.

KeyCorp has increased its dividend payment by an average of 3.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. KeyCorp has a dividend payout ratio of 52.2% indicating that 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 Performance

NYSE KEY opened at $19.60 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $17.55 and a two-hundred day simple moving average of $15.95. The firm has a market cap of $19.42 billion, a price-to-earnings ratio of 1,959.50, a PEG ratio of 1.06 and a beta of 1.24. KeyCorp has a 12-month low of $11.64 and a 12-month high of $20.00.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share 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 analyst estimates of $1.59 billion. On average, equities analysts forecast that KeyCorp will post 1.09 EPS for the current year.

Insider Activity

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the transaction, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % 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, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KEY shares. Royal Bank of Canada raised their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley boosted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. DA Davidson increased their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Barclays upped their price target on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $18.03.

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.