Banco do Brasil SA is on the lookout for some takeover targets in the United States as it seeks to provide more banking services to a growing community of Brazilian citizens and companies in the world's largest economy, a source with knowledge of the situation said on Tuesday. Brazil's largest bank by assets is considering bidding for the Florida-based unit of Spain's Bankia SA, known as City National Bank of Florida, and another lender in New Jersey, said the source, who declined to speak on the record because negotiations are under way.
City National Corporation (the Corporation) is a bank holding company and a financial holding company. Shares of CYN fell by 0.28% or $-0.16/share to $57.54. In the past year, the shares have traded as low as $46.12 and as high as $59.79. On average, 368759 shares of CYN exchange hands on a given day and today's volume is recorded at 348907.
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