Comerica Incorporated (NYSE:CMA) shares are trading lower by 14% to $36.50 Tuesday morning amid ongoing uncertainty in the regional banking sector.
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The gap lower in the broader regional banking sector comes after the Federal Deposit Insurance Corporation confirmed First Republic Bank (NYSE:FRC) has been shuttered and its assets and deposits will be sold to JPMorgan Chase & Co (NYSE:JPM).
CMA shares have fallen from around $60 in early March when troubles at Silicon Valley Bank came to light. First Republic’s folding up marks the third banking collapse after SVB and Signature Bank.
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According to data from Benzinga Pro, CMA has a 52-week high of $87.02 and a 52-week low of $29.17.