Is KeyCorp Stock a Buy?

The meltdown the industry suffered beginning in the first quarter and spilling over into April and May left a lot of bank stocks at dirt-cheap valuations. One of those cheap, beaten-down bank stocks is KeyCorp (NYSE: KEY), the holding company for KeyBank. KeyCorp was hit harder than the average bank this year, with its stock price down about 39% year to date to about $10.65 per share, as of Aug. 15.