Is KeyCorp Stock a Buy?
This year, multi-decade-high interest rates helped create a challenging operational environment for many bank stocks. The abrupt failures of Silicon Valley Bank (a subsidiary of SVB Financial), Signature Bank, and First Republic Bank earlier this year brought intense scrutiny to the entire sector.
Concerns about the sector spooked many investors and led to the SPDR S Regional Banking ETF falling 27% since the start of 2023. (NYSE: KEY), the parent company of KeyBank, underperformed its peers and its stock is down 34% year to date. KeyCorp's margins are under pressure, and a recent downgrade only added to its problems.
And yet, KeyCorp now presents an intriguing long-term investment opportunity if it can navigate these near-term challenges. If you're thinking about buying the stock, here are some issues to consider.
Source Fool.com
KeyCorp Stock
With 21 Buy predictions and not a single Sell prediction KeyCorp is an absolute favorite of our community.
On the other hand, the target price of 15 € is below the current price of 15.16 € for KeyCorp, so the potential is actually -1.08%.
