KeyCorp (NYSE:KEY) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Investors of record on Tuesday, May 28th will be given a dividend of 0.17 per share by the financial services provider on Friday, June 14th. This represents a $0.68 annualized dividend and a dividend yield of 4.10%.
KeyCorp has increased its dividend payment by an average of 24.9% annually over the last three years and has raised its dividend every year for the last 8 years. KeyCorp has a payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KeyCorp to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 34.9%.
NYSE KEY traded down $0.35 on Wednesday, reaching $16.57. 11,642,763 shares of the company’s stock traded hands, compared to its average volume of 12,861,748. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market capitalization of $16.67 billion, a P/E ratio of 9.58, a PEG ratio of 1.17 and a beta of 1.23.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of KeyCorp from a “hold” rating to a “sell” rating in a research report on Monday, February 18th. CIBC reiterated an “average” rating on shares of KeyCorp in a research report on Monday, February 4th. ValuEngine upgraded shares of KeyCorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Nomura upgraded shares of KeyCorp from a “reduce” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Friday, March 29th. Finally, JPMorgan Chase & Co. cut shares of KeyCorp from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $17.00 in a research report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.92.
In related news, insider Robert A. Deangelis sold 31,166 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $17.37, for a total value of $541,353.42. Following the completion of the sale, the insider now owns 196,478 shares of the company’s stock, valued at $3,412,822.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 4,162 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total value of $72,127.46. Following the completion of the sale, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
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KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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