NEW YORK (TheStreet) -- Comerica (CMA) - Get Report shares closed trading down 0.43% to $46 on Friday following the release of the Dallas-based financial services company's first quarter earnings results before the opening bell today.
The company reported first quarter earnings of $132 million, or 73 cents per diluted share, that topped analysts expectations for the period of 72 cents by one cent. However, the company's net income fell by 3% from the year ago period while the EPS remained flat from that quarter.
Comerica generated revenue of $669 million during the quarter which topped analysts' $624.3 million guidance.
Net interest income declined by about 1% during the quarter to $413 million while net interest margins fell by 13 basis points to 2.64%.
TheStreet Ratings team rates COMERICA INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COMERICA INC (CMA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, expanding profit margins, growth in earnings per share, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: CMA Ratings Report