Jet data shows KeyCorp visited Comerica’s home of Dallas, says Gordon Haskett

Don Bilson, who heads event-driven research at Gordon Haskett, said in a note to investors that it is “getting harder to ignore the consolidation wave that is now rolling through the regional banking space.” In that context, he noted that “a couple of other banks we have our eye on will be reporting tomorrow,” specifically KeyBank (KEY) and Comerica (CMA). While stating that he has “always thought” Comerica “would be a nice pickup” for KeyBank to turn the latter into a national bank, Bilson added that “to be clear, we don’t assign a very high probability to this happening.” However, “just to hedge our bets,” Bilson noted that jet tracking data shows that a KeyBank jet flew to Dallas last Wednesday, adding that data going back 18 months “has never seen KEY in Dallas before.” Comerica’s corporate headquarters is located in Dallas, Texas.