I believe in selling a lot of the smaller regionals. I don't know what happens to KeyCorp(KEY), Comerica(CMA), SunTrust(STI), Huntington Bancshares(HBAN), Regions Financial(RF) and Fifth Third(FITB). Maybe they will be turned into zombie banks. Maybe they get seized.

Some likely takeover candidates according to Liesman are National City Corp [NCC], KeyCorp [KEY], Comerica [CMA] and First Horizon [FHN]. But this isn’t a slam dunk in my opinion, Liesman concludes.

Seems like the bank-buying spree has begun in earnest and all of the regionals could now go: Comerica (CMA), First Horizon (FHN), National City (NCC), Suntrust (STI). They can all be bought by Bank of America (BAC), U.S. Bancorp (USB) -- still not heard from -- Goldman Sachs (GS) and JPMorgan (JPM).

Regional banks, which had been pummeled until a sharp rebound that started Wednesday, have deposit bases that are so valuable that buyers of banks historically have paid sizable premiums to get them. Deposits now are being accorded little or no value throughout the banking industry as many institutions, including SunTrust Banks (STI), Marshall & Isley (MI), Comerica (CMA), Wachovia (WB) and Zions Bancorporation (ZION) trade around their tangible book values -- a conservative measure that excludes goodwill and other intangible assets.

So, banks again, courtesy of JPMorgan Chase (JPM) and Comerica (CMA) -- they aren't going out of business -- and tech.

The piece is a virtual hit list of banks that need to refinance: Bank of America (BAC), Citigroup (C), Citizens Republic Bancorp (CRBC), Colonial Bancgroup (CNB), Comerica (CMA), East West Bancorp (EWBC), First Horizon (FHN), Huntingon Bancshares (HBAN), KeyCorp (KEY), Marshall & Ilsley (MI) (conviction sell!!) National City (NCC), Popular Inc. (BPOP) and South Financial (TSFG).

6/11/2008

Comerica (CMA) was upgraded at Deutsche Bank. Rating raised to Buy from Hold. Price target raised to $52 from $36. 2008 EPS estimates lowered to $2.70 from $3.05.

Midwest stalwart Comerica, now trading around 41, yields 6.2%. It trades for less than 10 times earnings and for 1.3 times tangible book value, one of the lowest price/tangible-book ratios among regional banks.

Comerica (CMA) was upgraded from Sell to Hold, Deutsche Bank said. $57 price target. Stock is cheap based on its historical average valuation and against its peers. Midwest assets currently given little to no valuation.

Iheritance