Keycorp Stock Shows Rising Relative Strength Amid Surging Profit Growth

The Relative Strength (RS) Rating for super-regional bank  Keycorp (KEY) rose to 77 Tuesday, up from 65 the day before. The upgrade came after the bank recorded two strong earnings reports, first a 205% leap in year-over-year profit growth, and then last quarter a 350% surge. Keycorp stock was down fractionally in sync with market consolidation Tuesday.

The 77 RS Rating means that Keycorp stock has outperformed 77% of all stocks regardless of industry over the past year. Typically, the best stocks have an RS Rating of above 80 as they launch their biggest climbs. See if Keycorp can continue to show renewed price strength and hit that benchmark.

Keycorp Stock Among Top 5 In Group

Keycorp stock is in top 5 among its peers in the Banks-Super Regional industry group. SVB Financial (SIVB) and Fifth Third Bancorp (FITB) are also among the group’s highest-rated stocks.

Additionally, Keycorp stock carries an 82 Composite Rating, of a best-possible 99. The IBD Composite Rating helps investors easily measure the quality of a stock’s fundamental and technical metrics. The best growth stocks have a Composite Rating of 90 or better.

The EPS Rating, a gauge of recent and long-term profit growth, is an even stronger 91. That puts the parent of Cleveland-based KeyBank among the top 9% of all companies in profit growth.

In terms of fundamentals, Keycorp has posted four quarters of rising earnings growth. Sales  growth has been uneven though, declining 2% in the most recent report to $1.84 billion. That came after it rose 6% the prior quarter.

Looking For The Best Stocks To Buy And Watch? Start Here

Keycorp stock is working on a consolidation with a 23.75 buy point. See if the stock can break out in heavy trade.

As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.

IBD’s proprietary Relative Strength Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the last 52 weeks compares to other publicly traded companies.


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