Comerica Incorporated (CMA) Releases Earnings Results, Misses Expectations By $-0.11 EPS

Comerica Incorporated (CMA) reported quarterly earnings results on Tuesday, Jul-19-2016. The company reported $0.58 earnings per share for the quarter, missing the analyst consensus estimate by $-0.11. Analysts had a consensus of $0.69. The company posted revenue of $714.00 million in the period, compared to analysts expectations of $715.64 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Upgraded by Wells Fargo to ” Market Perform” on Jul 8, 2016. Comerica Incorporated was Downgraded by BofA/Merrill to ” Underperform” on Jun 29, 2016. Comerica Incorporated was Upgraded by Goldman to ” Neutral” on May 19, 2016.

Comerica Incorporated opened for trading at $43.53 and hit $43.849 on the upside on Monday, eventually ending the session at $43.73, with a gain of 0.16% or 0.07 points. The heightened volatility saw the trading volume jump to 18,14,594 shares. Company has a market cap of $7,659 M.

In a different news, on Mar 4, 2016, Peter L Sefzik (Executive Vice President) sold 2,500 shares at $35.43 per share price. According to the SEC, on Nov 10, 2015, Jacqueline P Kane (director) purchased 256 shares at $46.93 per share price. On Mar 5, 2015, Peter William Guilfoile (Executive Vice President) sold 1,200 shares at $45.81 per share price, according to the Form-4 filing with the securities and exchange commission.

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It operates in three business segments: the Business Bank the Retail Bank and Wealth Management. In addition it also operates in the Finance segment. The Business Bank segment offers commercial loans and lines of credit deposits cash management capital market products international trade finance letters of credit foreign exchange management services and loan syndication services. The Retail Bank segment offers deposit accounts installment loans credit cards student loans home equity lines of credit and residential mortgage loans. The Wealth Management segment offers fiduciary services private banking retirement services investment management and advisory services investment banking and brokerage services. The Finance segment includes its securities portfolio and asset and liability management activities.

Comerica Incorporated

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