New York State Teachers Retirement System has grown their stake in Comerica Incorporated (CMA), acquiring 11,564 more shares. Expansion efforts are evident as
Comerica Bank officially opens its largest corporate office - the Great Lakes Campus, yet the
stock has underperformed compared to competitors recently.
First Horizon Advisors Inc. also increased their position in Comerica. Q2 2024 earnings for Comerica were higher than expected, despite pressures from lower loan intake and high costs, with an EPS beat of $1.4. The institution is underway with strategic shifts amidst economic uncertainty and signed an agreement with OCC over compliance issues, leading to a stock drop.
Cassandra Mckinney, an executive vice president, recently sold 7,271 shares of Comerica stock. Despite falling stock prices and losing an exclusive Treasury contract, Comerica's dividends remain intact. Comerica has come under scrutiny over tech snafus at its wealth unit. Future prospects highlight ongoing deposit pressure that may limit upside. However, Comerica recently completed a $1 billion senior notes offering and is due to participate in the 2024 Morgan Stanley US Financials, Payments & CRE Conference. Despite recent obstacles, Comerica Inc. has seen strong earnings amid deposit and loan challenges as shown in their Q2 2024 earnings call transcript.
Comerica Incorporated CMA News Analytics from Mon, 22 Aug 2022 07:00:00 GMT to Sun, 25 Aug 2024 13:25:21 GMT -
Rating -3
- Innovation 0
- Information 4
- Rumor -4
