Financial Downgrades (BAC, BBT, CLMS, CMA, FITB, BEN, STI, VLY)

There were more downgrades in financial stocks, but these were the larger names that saw estimates or ratings cut by analysts this morning:

• Bank of America (BAC) Cut to Underperform at KBW.
• BB&T (BBT) Cut to Underperform at KBW.
• Calamos Asset Management (CLMS) Cut to Sell at Goldman Sachs.
• Comerica (CMA) Cut to Market Perform at KBW.
• Fifth Third Bancorp (FITB) Cut to Market Perform at KBW.
• Franklin Resources (BEN) Cut to Neutral at Goldman Sachs.
• Suntrust Banks (STI) Cut to Underperform at KBW.
• Valley National Bancorp (VLY) Cut to Underperform at KBW.

Jon C. Ogg
September 10, 2008