Comerica Swings To Profit, Earns 53 Cents Per Share (CMA)

Comerica Incorporated

released financial results on Tuesday morning. Comerica Incorporated announced 4th quarter net income of $96 million, or 53 cents per share, compared to a net loss of $29 million, or 42 cents per share, a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 32 cents per share. Chairman and chief executive officer Ralph W. Babb Jr. said, "Our customers are conveying a more positive and confident tone. Generally, they are feeling much better about the economy. Throughout our geographic footprint, our relationship managers report a growing sense of optimism among customers and prospects. This can be seen in our strong loan pipeline. Given the many positive signs we have seen, as well as our strategy for success, which is focused on growth and balance, we believe we are uniquely positioned for the future." Comerica Incorporated (

) finished the previous trading day at $42.25 per share. The consensus price target of analysts covering the company's stock is $42.15 per share. Comerica Incorporated is a financial services company headquartered in Dallas, Texas and strategically aligned by three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Read more