The local banking organization, Comerica Incorporated (CMA), has recently been the subject of much discussion. For instance, new shares in the company were acquired by Impact Partnership Wealth LLC and Simon Quick Advisors LLC. The company revealed its earnings for Q4 and the full fiscal year 2024, yet unfortunately missed predictions. The financial performance for the year, however, was robust, and dividends were declared, with an increase in share repurchase authorization.
Despite a disappointing performance in Q4 that led to a decline in share price, there is anticipation surrounding the projected earnings for the upcoming quarter. The Royal Bank of Canada and DA Davidson have lowered their price targets for CMA, while Morgan Stanley and JPMorgan Chase & Co. have lowered their expectations. Other significant news includes State Street Corp's strategic acquisition of Comerica shares.
However, the company also faced lawsuits from the CFPB over allegations of failing disabled and older Americans. In response to these legal challenges, Comerica CEO presented at the Goldman Sachs Financial Services Conference. Despite the mixed news, institutional investors are showing a preference for Comerica, owning over 82% of the company's shares.
Comerica Incorporated CMA News Analytics from Fri, 09 Feb 2024 10:49:11 GMT to Sat, 25 Jan 2025 10:53:47 GMT - Rating -3 - Innovation -1 - Information 6 - Rumor -4
