- Comerica’s average deposits for the first quarter were $61.90 billion, slightly above the estimated $61.82 billion.
- The provision for credit losses was $20 million, which was below the expected $22.9 million.
- Earnings per share were reported at $1.25.
- The net interest margin achieved was 3.18%, higher than the estimate of 3.15%.
- The efficiency ratio was 70.3%, better than the expected 72.1%.
- Return on average equity stood at 10.6%, surpassing the estimate of 9.53%.
- Average loans amounted to $50.21 billion, slightly below the predicted $50.42 billion.
- Net interest income was $575 million, exceeding the estimate of $563.5 million.
- Non-interest income totaled $254 million, which was below the estimated $266.1 million.
- The Common Equity Tier 1 ratio was reported at 12.1%, higher than the anticipated 11.5%.
- Net charge-offs were $26 million, above the estimate of $22.2 million.
- Total loans experienced a reduction of $403 million.
- Analyst recommendations for Comerica include 5 buys, 14 holds, and 5 sells.
A look at Comerica Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Comerica Inc, the holding company for business, individual, and investment banks operating in multiple countries, boasts solid scores in key areas. With a high Dividend score of 5, investors can expect consistent returns from the company. Additionally, Comerica Inc excels in the Value category with a score of 4, indicating a favorable position in terms of its intrinsic worth. The company also shows promise in Momentum with a score of 4, suggesting positive growth potential in the future.
Though Comerica Inc scores lower in Growth and Resilience with scores of 3 each, the company’s diverse range of services including corporate banking, international finance, and community banking, provide a stable foundation for future growth. Overall, Comerica Inc presents a strong investment opportunity with its impressive scores in Dividend, Value, and Momentum, coupled with its robust suite of banking services catering to a wide array of clients.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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