Dec 5 (Reuters) - HoldCo Asset Management said on Friday it is pushing KeyCorp KEY.N, in which it has built a sizeable position, to refrain from bank acquisitions, marking its latest activist campaign against U.S. regional lenders this year.

The Florida-based activist hedge fund, which owns 7.5 million shares in KeyCorp worth over $140 million, is also pressing the bank to oust its CEO Chris Gorman and to deploy all excess capital for buybacks.

Shares of KeyCorp, which has a market value of over $20 billion, rose as much as 3.2%. The stock has gained 11.5% so far this year, as of last close.

"We are executing a strategy to deliver disciplined growth, strong profitability, and capital return to shareholders, and we believe we are well positioned to drive upside for shareholders," KeyCorp said in an emailed statement.

HoldCo had successfully campaigned to push Comerica CMA.N for a sale, which in October agreed to be bought by Fifth Third Bancorp FITB.O for $10.9 billion.

The hedge fund has pushed for changes at a string of U.S. regional lenders in the wake of Comerica's sale. Last month, two banks sidestepped a proxy fight with the activist investor.

HoldCo, which manages about $2.6 billion in assets and was founded by Vik Ghei and Misha Zaitzef, is also considering a near-term proxy contest and pressing KeyCorp for a sale to a larger rival or certain Canadian banks.

Analysts expect investors to closely parse Gorman's commentary next week, who is scheduled to present at the Goldman Sachs U.S. Financial Services Conference.

"We know a lot of investors would love to hear that KeyCorp is just doing everything it can to repurchase as much (and as quickly) as is appropriate," Piper Sandler analysts said.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Krishna Chandra Eluri)

((ArasuKannagi.Basil@thomsonreuters.com))