RALEIGH – Winston-Salem-based BB&T Bank may feel the effects of activist investors pressuring banks nationwide.
BB&T could buy Comerica, a Dallas-based bank, according to activist investors who spoke to Reuters. The bank is a lender with $71 billion in assets under management. Comerica also has a return on common equity of about 7 percent.
David White, a spokesman with BB&T, said the company does not comment on speculation relating to mergers and acquisitions. Comerica also declined to comment.
A New York-based hedge fund Hudson Executive Capital announced Monday it had acquired a $56 million state in Comerica Bank.
BB&T has approximately $209.9 billion in assets and $29.5 billion in market capitalization as of Dec. 31. The company is based in Winston-Salem, and has 2,139 financial centers in 15 states.
Since 1997, BB&T has completed 26 acquisitions. Started in Wilson, North Carolina in 1872 as Branch Banking & Trust, BB&T moved to Winston-Salem in 1995.
From Reuters and staff reports.