trending Market Intelligence /marketintelligence/en/news-insights/trending/td2tqlcqgzehtrz1nkguvq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Comerica Q3 net income climbs YOY

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Comerica Q3 net income climbs YOY

Comerica Inc. on Oct. 16 reported third-quarter net income attributable to common shares of $316 million, or $1.86 per share, up from net income of $224 million, or $1.26 per share, in the same quarter of the prior year.

The S&P Global Market Intelligence consensus mean estimate for third-quarter GAAP EPS was $1.75.

Net interest income increased to $599 million from $546 million, boosted by the net benefit from higher short-term rates.

Total loans stood at $49.01 billion, compared with $49.79 billion in the second quarter and $49.21 billion in the third quarter of 2017.

The company did not post any credit loss provision for the quarter, versus $24 million from the same quarter in 2017. Provision for income taxes decreased to $63 million from $108 million year over year.

Total deposits were $56.01 billion, compared with $57.21 billion in the linked quarter and $57.82 billion in the year-ago period. The year-over-year decline in deposits was attributed to a $1.9 billion decrease in noninterest-bearing deposits, offset by a $1.5 billion increase in interest-bearing deposits.

Dallas-based Comerica provided its fourth quarter 2018 outlook, which assumes a continuation of the current economic and rate environment as well as the benefits from the company's GEAR Up initiative. The company expects average loans to be stable with a positive trend and expects continued growth in net interest income partly due to rising short-term interest rates. The company also projects $10 million to $20 million provision for credit losses and expects net charge-offs to remain low.

In addition, noninterest income is expected to be relatively stable, excluding securities losses, bank-owned life insurance and deferred compensation asset returns. Noninterest expenses are expected to be modestly higher, excluding approximately $10 million of restructuring charges.