M&A is coming back in a big way in banking. A top analyst believes these are the next takeouts

After years of drought, dealmaking is returning to the U.S. banking sector, and Wells Fargo analyst Mike Mayo broke down which firms could be the next target. Mayo, one of the industry's most closely followed bank analysts, said the setup reminds him of the 1990s, when consolidation swept through regional and community banks following waves of regulatory relief. "I lived and worked through that period," he said on CNBC's "Power Lunch" Monday. "It starts a little bit, and other people look at it, but it creates a domino effect. Merger Monday is back for banks. Lookout for the next 12 months. We should see a lot more mergers. And this is the period of the greatest deregulation in three decades." On Monday, Fifth Third Bancorp announced plans to acquire Comerica in an all-stock deal valued at