|Day Low/High||44.88 / 45.66|
|52 Wk Low/High||30.48 / 48.66|
Comerica, the Texas lender, drew shareholder ire for its flagging profitability. In response, the bank has unveiled a cost-cutting plan -- but is stopping short of an outright sale.
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The Salt Lake City-based regional bank could soon become an activist or acquisition target, considering its high regulatory costs and the post-Brexit low-interest rate-environment it faces.
Here are Friday's top research calls, including an upgrade for CF Industries, and downgrades for Citigroup, Juno Therapeutics and AT&T.
Lower share prices might make these five bank stocks look attractive, but their charts tell another story.
It's been eight years since the global financial crisis, and despite some forecasts that Brexit could slow the global economy, banks are gearing up to reward shareholders with big payouts.
Federal Reserve Did Not Object to Capital Plan
The U.S. units of Deutsche Bank and Banco Santander continue to have problems, while Morgan Stanley must resubmit its capital distribution plan by the end of December or fail.
Executives could accelerate decisions to go ahead and sell their banks.
Here are Wednesday's top research calls, including downgrades for Comerica, Coach and Harman, and an upgrade for Oracle.
Trade-Ideas LLC identified Comerica (CMA) as a "dead cat bounce" (down big yesterday but up big today) candidate
Comerica, the Dallas-based lender, was already grappling with angry shareholders and soured energy loans. Following Brexit, it's even less likely to get a much-needed boost from higher U.S. interest rates.
Small and mid-sized banks like Pinnacle and Renasant may offer gains to investors amid the stock market turmoil following Britain's decision to leave the European Union.
Nathaniel Bennett Named New Chief Diversity Officer
Comerica, in the midst of a three-month strategic review by Boston Consulting Group, appears to have ruled out the one move investors really wanted -- a sale of the bank.
Comerica President Curtis C. Farmer to Directly Oversee Business Bank Leadership Team at That Time
George Surdu, Executive Vice President and CTO, to Retire this Fall
Hudson Executive's James Woolery said at The Deal's Corporate Governance 2016 conference that his firm has received 16 inbound opportunities from publicly traded firms seeking its investment.
Trade-Ideas LLC identified Comerica (CMA) as a weak on high relative volume candidate