This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 More Bank Stocks for Bottom-Fishing Investors

6. Comerica

Shares of Comerica (CMA) of Dallas closed at $22.56 Monday, down 46% year-to-date. The shares trade for 0.7 times their tangible book value of $33.31, according to SNL Financial.

Based on a quarterly payout of ten cents, the shares have a dividend yield of 1.77%.

The company acquired Sterling Bancshares of Houston on July 28 for about $803 million, bringing on about $4.7 billion in assets and more than 50 branches in the metropolitan areas of Houston, San Antonio, Dallas and Fort Worth, in Texas.

Comerica had $54.2 billion in assets as of June 30. Second-quarter net income attributable to common shares was $95 million, or 53 cents a share, increasing from $70 million, or 39 cents a share, in the second quarter of 2010. The provision for loan losses declined to $47 million in the second quarter, from $126 million a year earlier Meanwhile, the net interest margin declined to 3.14% from 3.28%, as strong deposit growth led to excess liquidity.

The second-quarter ROA was 0.70% according to SNL, which was the second-highest among the 10 bank holding companies listed here.

Guggenheim Securities analyst Jeff Davis rates Comerica a "buy," with a price target of $35, saying on August 19 that he expects the company to repurchase 3.5 million to 4 million shares this year, "with all but 400,000 occurring since July 28 when the [Sterling] deal closed."

The shares trade for nine times the consensus 2012 EPS estimate of $2.47, among analysts polled by FactSet.

Out of 26 analysts covering Comerica, 12 rate the shares a buy, 11 have neutral ratings and three analysts recommend selling the shares.

6 of 11

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,901.61 -17.98 -0.11%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs