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Comerica (CMA) reports a decline in average loans and deposits. Nonetheless, it reiterates the NII guidance for fourth-quarter 2023.
An upgrade of Comerica Inc.'s CMA, +1.11% technology platform inadvertently caused millions of dollars in account shortfalls in its wealth management trust unit, The Wall Street Journal reported on Wednesday. The Office of the Comptroller of the Currency is studying the technology platform change at Comerica that triggered failures on transactions for trust clients, the newspaper reported.
Decent loan growth, rising NII, adequate liquidity and sustainable capital distributions are major tailwinds for Comerica (CMA). However, increasing costs are likely to limit bottom-line growth.
The "Halftime Report" traders give their top picks to watch for the second half.
Investors may consider attractive dividend-yielding stocks like Comerica (CMA) for their portfolios amid the current economic uncertainties.
Regional banks are weighed down by concerns over the impact of new rules and the risk of a recession on loan losses, particularly in commercial real estate.
DALLAS , Nov. 21, 2023 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced it will participate in the Goldman Sachs 2023 US Financial Services Conference on Tuesday, Dec. 5, 2023. Comerica Incorporated also provided details for its fourth quarter 2023 earnings call on Friday, Jan. 19, 2024.
The banking crisis in March 2023 affected even the best bank stocks as higher interest rates put pressure on liquidity. With interest rates at 5% compared with March's 4.75%, risks remain due to tighter lending standards and potentially higher yields.
Bank stocks are down badly this year. Borrowing costs are sky-high, cutting into net interest income.
Financial stocks are struggling on multiple fronts. First, legacy financial and banking institutions face increased credit risk as high rates push depositors away and into money market funds and fixed-income investing on their own.