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

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 15th. Shareholders of record on Tuesday, March 3rd will be given a dividend of 0.205 per share by the financial services provider on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, March 3rd.

KeyCorp has increased its dividend by an average of 0.0%per year over the last three years. KeyCorp has a payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 5.3%

NYSE:KEY opened at $20.71 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The stock’s fifty day simple moving average is $21.51 and its 200-day simple moving average is $19.57. The firm has a market capitalization of $22.56 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.62 and a beta of 1.10.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company’s quarterly revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 65,961 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the transaction, the insider owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 161,506 shares of company stock worth $3,597,481. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of KeyCorp by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider’s stock worth $2,576,110,000 after purchasing an additional 1,192,323 shares in the last quarter. Wellington Management Group LLP increased its holdings in KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares during the last quarter. Geode Capital Management LLC raised its position in KeyCorp by 1.5% during the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after acquiring an additional 359,573 shares in the last quarter. Invesco Ltd. lifted its stake in KeyCorp by 2.4% in the second quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after acquiring an additional 488,730 shares during the last quarter. Finally, Capital World Investors grew its position in shares of KeyCorp by 1.1% in the 4th quarter. Capital World Investors now owns 21,027,471 shares of the financial services provider’s stock valued at $434,007,000 after acquiring an additional 238,514 shares during the period. 79.69% of the stock is currently owned by 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.