KeyCorp (KEY) to Issue Quarterly Dividend of $0.21 on March 13th

KeyCorp (NYSE:KEY) announced a quarterly dividend on Thursday, January 15th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of 0.205 per share by the financial services provider on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 3rd.

KeyCorp has raised its dividend by an average of 0.0%annually over the last three years. KeyCorp has a payout ratio of 47.7% meaning 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 Performance

NYSE KEY opened at $21.16 on Friday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $21.75. 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 stock has a market cap of $23.13 billion, a P/E ratio of 26.12, a PEG ratio of 0.52 and a beta of 1.09. The company’s 50-day simple moving average is $19.76 and its 200 day simple moving average is $18.80.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business posted ($0.47) earnings per share. The business’s revenue was up 172.7% compared to the same quarter last year. As a group, research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On KeyCorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Activest Wealth Management grew its holdings in shares of KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of KeyCorp during the second quarter valued at $26,000. United Community Bank acquired a new position in shares of KeyCorp during the third quarter worth $27,000. GoalVest Advisory LLC bought a new stake in shares of KeyCorp in the fourth quarter worth $30,000. Finally, Sachetta LLC increased its holdings in KeyCorp by 1,246.1% in the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,595 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

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.