KeyCorp (NYSE:KEY) Shares Set to Pay Quarterly Dividend of $0.20

Key Points

• KeyCorp declared a quarterly dividend of $0.205 per share, payable December 15 to shareholders of record on December 1. That equates to an annualized $0.82 per share and a 3.8% yield.
• The dividend appears well covered: KeyCorp’s current payout ratio is 47.7%, and analysts expect next year’s earnings to bring the payout ratio to 38%.
• In its latest reported quarter, KeyCorp earned $0.51 per share, beating the $0.46 analyst consensus; revenue increased 8.3% year over year to $2.05 billion.

KeyCorp (NYSE:KEY - Get Free Report) announced a quarterly dividend on Thursday, November 12th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.2050 per share by the financial services provider on Tuesday, December 15th. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, December 1st.

KeyCorp has a payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect KeyCorp to earn $2.16 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 38.0%.

KeyCorp Stock Performance

Shares of KEY stock opened at $21.33 on Friday. The stock has a fifty day moving average price of $20.84 and a 200 day moving average price of $21.55. The stock has a market cap of $22.53 billion, a PE ratio of 11.72, a P/E/G ratio of 0.76 and a beta of 1.07. KeyCorp has a 1 year low of $16.91 and a 1 year high of $24.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the business earned $0.41 earnings per share. KeyCorp's quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that KeyCorp will post 1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KEY has been the topic of several recent research reports. Wall Street Zen upgraded shares of KeyCorp from a "sell" rating to a "hold" rating in a research report on Sunday, October 25th. Robert W. Baird raised their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 22nd. DA Davidson lifted their target price on shares of KeyCorp from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, October 21st. Weiss Ratings upgraded shares of KeyCorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, November 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, KeyCorp has a consensus rating of "Moderate Buy" and a consensus target price of $46.25.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company's offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.

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