The Race Is On for Laggard Banks to Payback TARP - Analyst (FITB, KEY, RF, STI, more...)

Commenting on Comerica's (NYSE: CMA) move after the close to offer $800 million in common stock to payback TARP, analysts at Deutsche Bank said the remaining banks are eager to exit TARP especially given the recent 15% rally in the sector and as no one wants to be the last to repay.

Banks that the firm tracks that have yet to repay include First Horizon National Corp. (NYSE: FHN) ($867m of TARP), Fifth Third Bancorp (Nasdaq: FITB) ($3.4b), Huntington Bancshares Inc. (Nasdaq: HBAN) ($1.4b), KeyCorp (NYSE: KEY) ($2.5b), Marshall & Ilsley Corporation (NYSE: MI) ($1.7b), M&T Bank Corp. (NYSE: MTB) ($600m), Regions Financial Corp. (NYSE: RF) ($3.5b), SunTrust Banks, Inc. (NYSE: STI) ($4.9b) and Zions Bancorp. (Nasdaq: ZION) ($1.4b).

The firm remains positive on banks despite a likely $10 billion of capital raises to come, citing improving macro and bank specific trends.

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