KeyCorp (NYSE: KEY) bounced back strong last month as its stock price climbed 33% in July, according to S&P Global Market Intelligence. KeyCorp, the holding company for Key Bank, is down about 31% year to date as of Aug. 7, trading at about $12 per share.

The bank stock topped the S 500, which was up 3.2% in July. It also beat the Dow Jones Industrial Average (+3.4%), and the Nasdaq Composite (+4.1%) last month. 

It was a pretty good month for bank stocks overall, as the KBW Nasdaq Bank Index, which tracks the 24 largest U.S. banks, was up about 11% in July. KeyCorp is the 21st largest bank with about $195 billion in assets. Inflation dropping to 3.1% in June and the gross domestic product rising 2.4% in the second quarter provided a favorable environment for banks, which thrive in a growing economy. Also, banks like KeyCorp got a boost from the strong earnings reports by some of the megabanks earlier in July. 

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Source Fool.com