An increased loan portfolio and higher profit and trading income all contributed to the unusually strong quarter. However, revenue growth 'remains sluggish' due to low interest rates.
The financial services sector has been volatile lately. If you're looking for robust bank stocks to add balance to your portfolio, check out these two stable contenders.
Hudson Executive Capital disclosed a stake in Comerica with fanfare earlier this year, part of an effort to push the bank toward a sale. That didn't pan out.
CLSA analyst Mike Mayo is no stranger to controversy, and the latest episode is no exception. He believes the Texas lender Comerica intentionally kept him off a conference call.