Hints and tips:
...“Credit quality trumps margins and AOCI [securities losses]....
...Just 14 per cent of the bank’s securities were pledged a year ago. Comerica’s stock has rebounded 65 per cent from its early May low to just over $50 a share....
...Moody’s said the review reflected the bank’s reliance on confidence-sensitive uninsured deposits and unrealised losses on held-to-maturity securities....
...Western Alliance, Comerica, KeyBank and Zions, which attracted negative attention in March for their large securities losses or concentration of uninsured deposits, or both, have all rallied by 25 per cent...
...It also reported $860mn in unrealised losses in its securities portfolio....
...piece that specifically explores issues like the asset-liability management of US bank, and factors that led to the rating reviews of First Republic Bank, Zions Bancorporation, Western Alliance Bancorp, Comerica...
...Smaller banks that have come under pressure from investors following the collapse of SVB, including PacWest and Comerica, were not included in the stress tests....
...Shares in other regional US banks also fell on Friday, including a 13 per cent decline for Western Alliance Bancorp, a 7 per cent fall for Comerica, an 8 per cent slide in KeyCorp, and a 6 per cent drop...
...Here is its price to tangible book value ratio, compared with those of JPMorgan Chase and the large regional bank Comerica: It is not surprising that Citi’s valuation should lag behind JPMorgan Chase, the...
...The banks that are getting beat up do have weaknesses: PacWest’s exposure to the venture capital industry, securities and loan losses at Zions and KeyCorp, uninsured deposits at Comerica, and so on....
...Monday UN Security Council briefing on Ukraine, with British foreign secretary James Cleverly expected to chair the meeting....
...Zions Bancorp and Comerica were down roughly 10 per cent....
...Charles Schwab and Comerica are each down 8 per cent, KeyCorp is down almost 6 per cent, and Bank of America — which is second on Morgan Stanley’s list of unrealised held-to-maturity losses — is lower, down...
...Take Comerica for example, which had $45bn in uninsured deposits as of December 22....
...It has been delayed until September, and the SEC is smelling potential securities fraud. (See Rob’s segment above for our case against GameStop and, by extension, AMC.)...
...Last week Moody’s put its ratings on Western Alliance, Comerica, Zions Bancorp and UMB under review for downgrade, while Fitch has put PacWest Bancorp on watch....
...They had a lot of debt securities on their balance sheet or they had a lot of unsecured deposits or, etc etc. These banks have been rallying....
...Britain’s biggest commercial landlord — still widely known as Land Securities in spite of a rebranding in 2017 — surged more than 20 per cent on Monday as global markets celebrated promising data from Pfizer...
...That is true of Comerica, a fast-growing bank with $71bn in assets. It has fallen 9 per cent since May....
...But the banks there — Comerica, Regions, Zions — are not detached from the broader world....
...Lenders can also rejig their securities portfolios....
...At the same time, Hudson announced it had taken a stake in Comerica, a regional bank with between $50bn and $100bn in assets....
...In its filing to the Securities and Exchange Commission, Basswood argued that Astoria had “substantial opportunities . . . to take steps to enhance shareholder value.”...
...Reported losses so far are “the tip of the iceberg”, said Meny Grauman, a banks analyst at Cormark Securities in Toronto....
...Matthew Coombe and Patrick Menerey have both joined as private bankers in Los Angeles from Comerica Bank....
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