CMA Stock Recent News
CMA LATEST HEADLINES
Comerica Incorporated CMA posted better-than-expected quarterly results on Friday.
Comerica shares plunged over 10% after disappointing earnings, wiping out gains from the past year, as net interest income pressures persist. Struggles with noninterest-bearing deposit outflows are pressuring net income, making earnings growth more difficult. Loss of Direct Express debit card contract will lead to a $3.3 billion headwind in 2025, impacting earnings by at least $0.60.
Comerica beat earnings expectations, but net interest income continues to be under pressure. The bank lowered its forecast for interest income for the year.
A rise in loan balance, along with a strong capital position and nil provisions, supports Comerica's (CMA) Q2 earnings. Yet, lower NII and fee income are major headwinds.
Comerica Inc.'s stock fell 12% on Friday after the bank cut its outlook on net interest income and said it doesn't expect to continue as financial agent for the U.S. Treasury Direct Express Prepaid Debit Card program.
Shares of Comerica (CMA) tumbled Friday despite second-quarter results beating estimates, as the regional bank said it has been informed by the U.S. Treasury that it likely won't be selected to continue exclusively providing the Direct Express card.
Although the revenue and EPS for Comerica (CMA) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Comerica Incorporated (CMA) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $2.01 per share a year ago.
DALLAS , July 19, 2024 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) has reported its second quarter 2024 financial results. The results are available on the Investor Relations section of Comerica's website here.
Comerica's (CMA) second-quarter 2024 results are expected to be hurt by lower consumer loan demand and rising costs. Yet, a strong fee income growth is likely to offer support.