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Comerica Inc CMA

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Solid Finish to 2021 for Comerica, Despite PPP Drag We Still Expect Healthy Revenue Growth in 2022

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

Comerica reported solid fourth-quarter earnings of $1.66, beating the FactSet consensus of $1.58. Top-line revenue came in at $2.97 billion compared with our estimate of $2.94 billion. Net interest income was in line with our projections coming in at $1.84 billion, while fees were $1.12 billion, slightly higher than our projection of $1.10 billion. With a slight beat on fees and provisioning compared with our estimates, the bank slightly beat our full-year outlook.

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Company Profile

Business Description

Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada.

1717 Main Street, Comerica Bank Tower, MC 6404
Dallas, TX, 75201
T +1 214 462-6831
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 7,870