KeyCorp Plans Quarterly Dividend of $0.21 (NYSE:KEY)

KeyCorp (NYSE:KEY) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Tuesday, June 2nd will be given a dividend of 0.205 per share by the financial services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, June 2nd.

KeyCorp has raised its dividend payment by an average of 0.0%per year 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 $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 Performance

KEY opened at $20.74 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a 52-week low of $15.28 and a 52-week high of $23.34. The firm has a market cap of $22.48 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.68 and a beta of 1.06. The business’s fifty day moving average is $20.72 and its 200-day moving average is $20.37.

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

Insider Activity

In related news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the sale, the insider directly owned 281,564 shares of the company’s stock, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. United Community Bank acquired a new position in shares of KeyCorp during the third quarter worth $27,000. Maseco LLP acquired a new stake in shares of KeyCorp during the 4th quarter valued at $27,000. DV Equities LLC bought a new stake in KeyCorp during the 4th quarter worth $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp in the 4th quarter worth about $30,000. Finally, Smithfield Trust Co acquired a new position in KeyCorp in the 4th quarter worth about $31,000. Institutional investors 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.