KeyBanc (KEY) Corporate Jet Activity Sparks Some Comerica (CMA) Chatter

April 19, 2021 9:46 AM EDT
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Comerica (NYSE: CMA) ticks higher off the open (+0.7%) after Gordon Haksett analyst Don Bilson notes speculation KeyBanc (NYSE: KEY) could acquire the company, citing recent jet activity.

"... CMA would be a nice pickup for KEY as it would add California and Texas to its portfolio. In effect, it would turn KEY in to a national bank. To be clear, we don’t assign a very high probability to this happening, but just to hedge our bets, we’ll mention that KEY flew to Dallas last Wednesday and then made a trip to New York on Thursday. Our jet tracking data goes back 18 months and has never seen KEY in Dallas before."

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