Banks stocks have gained solid momentum following Donald Trump’s surprise presidential victory, reflecting investors’ expectations of easing regulations and higher inflation. Further, with greater chances of Fed rate hike next month, undoubtedly the banking sector seems be an attractive investment option.
Among the several potential gainers, adding KeyCorp. (KEY - Free Report) to your portfolio should not disappoint. With assets over $135.8 billion, KeyCorp offers wide range of products and services, including commercial and retail banking, commercial leasing, investment management, consumer finance as well as investment banking products in 15 states, across a network of over 1,200 branches.
The Cleveland, OH-based banking giant continues to reflect strength in several areas, such as growing loans and deposits, improving credit quality and a strong capital position. Shares of KeyCorp surged 32.8% year to date, compared with the 18.7% increase of the KBW Nasdaq Bank Index. Notably, the attractiveness of this stock as an investment option at this stage is further underscored by its Momentum Style Score ‘B.’
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