Argus Research Keeps Their Hold Rating on Comerica (CMA)We are maintaining our HOLD rating on Comerica Inc. (NYSE: CMA), a regional bank focusing on Texas, California, Michigan, and several other states. At current levels around $68, we believe the shares remain fully valued. Regional bank shares faced pressure during the regional banking crisis, higher short-term interest rates, and concerns about commercial office real estate exposure. Many regional bank stocks marched higher in 2Q24 on the expectations that short-term interest rates would be cut significantly, which would lower deposit costs and improve losses in the investment portfolio. The thesis turned out not to be true, as the Fed indicated at their December meeting that there would be a smaller amount of cuts in 2025, most likely in the 2H25.