- Comerica reported first-quarter earnings per share of 66 cents.
- Analysts were expecting EPS of 55 cents.
- Average commercial loans grow by $1.2 billion, or 5%, sequentially.
Updated with comments from Jefferies analyst Ken Usdin.
The Dallas lender reported first-quarter net income of $130 million, or 66 cents a share, increasing from $96 million, or 48 cents a share, during the fourth quarter, and $103 million, or 57 cents a share, during the first quarter of 2011. The fourth-quarter results included $37 million in restructuring charges associated with the purchase of Sterling Bancshares last July.
|Comerica CEO Ralph W. Babb Jr.|
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