Comerica Rallies 2.94% to Yearly High on Merger Approval Backing

The share price rose to its highest level since the start of the year today, with an intraday gain of 2.94%.

The rally follows robust shareholder approval of Comerica’s $10.9 billion merger with Fifth Third Bancorp, with 97.0% of Comerica shareholders and 99.7% of Fifth Third shareholders backing the deal. The transaction, expected to close in Q1 2026, aims to create a $290 billion-asset bank with expanded presence in key U.S. growth markets. Both companies highlighted synergies in digital banking, commercial services, and operational efficiencies as key drivers of the merger’s strategic rationale.

Comerica shareholders will receive 1.8663 shares of Fifth Third stock per CMA share under the agreed terms. Despite opposition from activist investor Holdco Asset Management, which criticized the merger’s rushed approval process, the deal’s overwhelming support signals confidence in long-term value creation. Immediate market reactions reflected optimism, with Comerica’s stock rising 2.5% on the day of the announcement. Analysts note the merger aligns with broader banking-sector consolidation trends, though risks such as regulatory hurdles and integration challenges remain. The combined entity’s ability to leverage scale and cross-selling opportunities will be critical to sustaining investor momentum in the months ahead.