KeyCorp (NYSE:KEY) could be a possible acquisition target for Bank of America (NYSE:BAC) according to a report by analyst Richard Bove. The analyst cites the fact that the Bank of America currently has a market share of about 9.2% (according to Federal Deposit Insurance Corp). This leaves it 0.8% below the 10% level that might prevent it from making further U.S. acquisitions. However, the bank is still able to acquire $54 billion in deposits before reaching this level, which would help it boost its competitive position. Bove goes on to say that KeyCorp would be an aquisition that would make the most sense, as it is in the midwest (where BAC has less branches) and is available for relatively cheap. The company is trading well under its enterprise value with a strong cash position of $11 per share; however, it does have a PEG of 1.68, which makes it slightly overpriced given its growth rate. Both companies have not commented on the speculation, however this is definitely a stock worth keeping an eye on!

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