KeyCorp (KEY) to Issue Quarterly Dividend of $0.21 on June 15th

KeyCorp (NYSE:KEYGet Free Report) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Tuesday, June 2nd will be paid a dividend of 0.205 per share by the financial services provider on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, June 2nd.

KeyCorp has increased its dividend by an average of 0.0%annually over the last three years. KeyCorp has a dividend payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.6%

Shares of KeyCorp stock opened at $21.08 on Friday. KeyCorp has a 1 year low of $15.28 and a 1 year high of $23.34. The firm has a market cap of $22.85 billion, a PE ratio of 12.93, a P/E/G ratio of 0.66 and a beta of 1.06. The stock has a fifty day moving average price of $20.74 and a 200-day moving average price of $20.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEYGet Free Report) last announced its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the firm posted $0.38 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the transaction, the insider owned 281,564 shares in the company, valued at $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KEY. Brighton Jones LLC bought a new position in KeyCorp in the 4th quarter worth about $476,000. Woodline Partners LP boosted its position in shares of KeyCorp by 41.4% during the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 24,627 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of KeyCorp by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 1,890 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of KeyCorp by 6.5% during the 2nd quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 926 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of KeyCorp during the 2nd quarter valued at about $186,000. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

(Get Free Report)

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.

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Dividend History for KeyCorp (NYSE:KEY)

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