Comerica posts Q3 earnings beat as expansion continues

DALLAS - Comerica Incorporated (NYSE:CMA ) reported third quarter 2024 earnings that surpassed analyst expectations, with adjusted earnings per share (EPS) coming in at $1.33, exceeding the consensus estimate of $1.16 by $0.17. CMA shares were trading flat following the report.

The Dallas-based financial services company, which is celebrating its 175th anniversary this year, demonstrated resilience in its financial performance for the quarter ended September 30, 2024. The earnings beat represents a 14.7% surprise above analyst projections.

Comerica reported total assets of $79.7 billion as of September 30, 2024.

Comerica, one of the 25 largest commercial U.S. financial holding companies, operates through three main business segments: The Commercial Bank, The Retail Bank, and Wealth Management. The company has a significant presence across the United States, with nearly 380 banking centers located in Arizona, California, Florida, Michigan, and Texas.

Comerica continues to expand its operations, recently entering new regions including North Carolina and Colorado's Mountain West Market. The bank now has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as maintaining operations in Canada and Mexico.

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Source: Investing.com