KeyCorp (KEY) To Go Ex-Dividend on February 28th

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 13th, RTT News reports. Stockholders of record on Tuesday, March 1st will be paid a dividend of 0.195 per share by the financial services provider on Tuesday, March 15th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, February 28th.

KeyCorp has increased its dividend by 32.7% over the last three years and has increased its dividend annually for the last 11 consecutive years. KeyCorp has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect KeyCorp to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 38.0%.

Shares of NYSE:KEY opened at $27.01 on Friday. KeyCorp has a 12-month low of $16.69 and a 12-month high of $27.02. The stock has a market cap of $25.15 billion, a PE ratio of 10.55, a P/E/G ratio of 0.80 and a beta of 1.47. The business has a 50 day moving average of $23.65 and a 200-day moving average of $21.94. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.84.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 21st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.08. KeyCorp had a return on equity of 15.47% and a net margin of 33.07%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that KeyCorp will post 2.55 earnings per share for the current year.

In related news, insider Brian L. Fishel sold 11,841 shares of the business’s stock in a transaction on Monday, December 6th. The shares were sold at an average price of $23.26, for a total value of $275,421.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Douglas M. Schosser sold 9,301 shares of the business’s stock in a transaction on Tuesday, November 9th. The stock was sold at an average price of $23.71, for a total transaction of $220,526.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,672 shares of company stock valued at $2,361,619. Company insiders own 0.56% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, October 11th. Wells Fargo & Company downgraded shares of KeyCorp to an “equal weight” rating and set a $29.00 price target for the company. in a research report on Thursday, December 16th. Royal Bank of Canada dropped their price target on shares of KeyCorp from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, November 4th. Wedbush lifted their price target on shares of KeyCorp from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, October 22nd. Finally, Barclays lifted their price target on shares of KeyCorp from $24.00 to $26.00 in a research report on Monday, January 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.63.

KeyCorp Company Profile

KeyCorp operates as bank holding company, which engages in the provision of financial services. it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients.

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Dividend History for KeyCorp (NYSE:KEY)

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