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

KeyCorp (NYSE:KEY - Get Free Report) declared a quarterly dividend on Tuesday, July 15th, RTT News reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.205 per share by the financial services provider on Monday, September 15th. This represents a $0.82 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Tuesday, September 2nd.

KeyCorp has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Equities 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 traded up $0.23 during mid-day trading on Thursday, reaching $18.20. The company's stock had a trading volume of 1,063,571 shares, compared to its average volume of 13,217,569. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm's fifty day moving average price is $16.68 and its two-hundred day moving average price is $16.39. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.75. The stock has a market cap of $19.94 billion, a P/E ratio of -107.24, a PEG ratio of 0.66 and a beta of 1.11.

KeyCorp (NYSE:KEY - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 9.43% and a negative net margin of 0.12%. During the same period in the previous year, the company posted $0.20 EPS. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

KEY has been the topic of several recent research reports. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Wall Street Zen upgraded KeyCorp from a "sell" rating to a "hold" rating in a research note on Monday, April 21st. Jefferies Financial Group started coverage on KeyCorp in a research note on Wednesday, May 21st. They issued a "hold" rating and a $18.00 target price on the stock. Morgan Stanley reissued an "equal weight" rating on shares of KeyCorp in a research report on Thursday, April 17th. Finally, Evercore ISI set a $17.00 price objective on KeyCorp in a research report on Monday, April 28th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.18.

Insider Buying and Selling

In related news, insider Amy G. Brady sold 19,000 shares of KeyCorp stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $305,710.00. Following the completion of the transaction, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. This trade represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total value of $83,000.00. Following the transaction, the director owned 37,177 shares of the company's stock, valued at approximately $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in KeyCorp stock. Woodline Partners LP grew its holdings in KeyCorp (NYSE:KEY - Free Report) by 41.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,156 shares of the financial services provider's stock after buying an additional 24,627 shares during the quarter. Woodline Partners LP's holdings in KeyCorp were worth $1,346,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 79.69% of the company's stock.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.