KeyCorp's Share Price Has More than Doubled Over the Last Year. Is There Any More Upside?
Like many other players in the financial sector, regional bank KeyCorp (NYSE: KEY) has been on a tremendous run recently. Its stock is up roughly 40% year to date and has more than doubled over the past 12 months, as Wall Street looks favorably on an institution well-positioned to take advantage of a growing economy, loan growth, and rising interest rates. But after such a strong run, let's take a look at what investors can expect from the stock for the rest of this year and long term.
Based in Cleveland, KeyCorp, with $176 billion in assets, has a diverse geographic footprint ranging from New England to the Pacific region. Most of its loans are in the commercial space, although the bank is working to ramp up its new digital consumer bank, and it also has a sizable investment banking and capital markets operation.
After a tumultuous year during the pandemic, KeyCorp management is guiding for 2021 to be the bank's best year of earnings since 2018.
Source Fool.com
