KeyCorp (NYSE:KEY) Declares Quarterly Dividend of $0.20

KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of 0.205 per share by the financial services provider on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 1st.

KeyCorp has raised its dividend payment by an average of 0.0%per year over the last three years. KeyCorp has a dividend payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $2.15 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 38.1%.

KeyCorp Stock Up 1.1%

Shares of KEY opened at $23.55 on Thursday. KeyCorp has a 52 week low of $16.47 and a 52 week high of $23.72. 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 company has a market capitalization of $25.41 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.73 and a beta of 1.02. The stock’s 50-day moving average price is $22.20 and its 200-day moving average price is $21.49.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the business earned $0.38 earnings per share. KeyCorp’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that KeyCorp will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KEY. JPMorgan Chase & Co. raised their price objective on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Morgan Stanley increased their price target on shares of KeyCorp from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Jefferies Financial Group raised their price target on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, April 17th. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Finally, Weiss Ratings upgraded shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $47.34.

KeyCorp Company Profile

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.