Jim Cramer Says He Likes KeyCorp

KeyCorp (NYSE:KEY) is one of the relatively cheap S&P 500 stocks Jim Cramer talked about. Cramer highlighted the company’s significant projected growth compared to its forward multiple. He remarked:

“For my small bank, you know what, I like KeyCorp. That’s that Cleveland-based parent of KeyBank. We’ve had them on a bunch of times. Fine regional bank, underrated capital markets business to boot. KeyCorp is expected to grow at a 22% clip next year, yet trades at just under 11 times next year’s numbers.”

KeyCorp (NYSE:KEY) provides retail and commercial banking services, including deposits, lending, mortgages, credit cards, and wealth management. Moreover, the company offers capital markets, investment banking, equipment financing, and advisory solutions for corporate, institutional, and high-net-worth clients. During a July episode, when a caller asked if the company would be bought out soon, Cramer responded:

“You know what? That’s an interesting question, but we had Chris Gorman on, and Chris was also on another show recently. I don’t think they’re in any, I think they’re in expansion mode. I don’t think they’re in sell mode, and, but I don’t mind owning the stock at all, especially with that 4.5% yield.”

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Disclosure: None. This article is originally published at Insider Monkey.