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

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

KeyCorp has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Research 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 Down 0.5%

Shares of KEY opened at $21.33 on Friday. The firm has a market cap of $22.53 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company’s fifty day moving average is $20.84 and its two-hundred day moving average is $21.55. KeyCorp has a fifty-two week low of $16.91 and a fifty-two week high of $24.07. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.72.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. Analysts forecast that KeyCorp will post 1.88 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on KEY. JPMorgan Chase & Co. lifted their target price on KeyCorp from $23.00 to $23.50 and gave the company a “neutral” rating in a report on Friday, October 30th. TD Cowen began coverage on KeyCorp in a research report on Thursday, October 8th. They set a “buy” rating and a $23.00 price target for the company. Jefferies Financial Group dropped their price target on KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, September 24th. Evercore restated an “outperform” rating and issued a $24.00 price objective on shares of KeyCorp in a report on Thursday, October 1st. Finally, DA Davidson lifted their price objective on KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.