All of this came to a head at Comerica’s annual meeting in April, with shareholders demanding to know when the bank would improve its performance. Mayo was one of the biggest antagonists. “What we’re calling for at Comerica is greater accountability,” Mayo said a few months later. navigate to this web-site “If Comerica doesn’t sell, they should get a new CEO.” Fortunately for Comerica, a rebound in energy prices triggered a similar change in direction for its stock. After bottoming out around $25 a barrel in January, the price of oil has climbed to more than $50 a barrel today, making it easier for borrowers in the industry to service their debts. Brent Crude Oil Spot Price data by YCharts . Additionally, like all other bank stocks, Comerica’s shares soared in the wake of the presidential election. Investors are particularly bullish on the impact of the incoming administration on bank stocks, given that the President-elect promised on the campaign trail to stimulate faster growth and reduce regulations in the bank industry. The net result is that Comerica’s stock, while starting out the year at the bottom of the pack, has emerged at the top.
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