Comerica Inc.’s stock dropped nearly 7% on Friday after it missed analyst estimates for core deposits and loans, although its top-line revenue and bottom-line numbers came in stronger than expected.

Comerica’s stock
CMA,
-8.53%

fell $2.85 to $38.66 in afternoon trading.

The bank said its third-quarter net income fell by 28% to $251 million, or $1.84 a share, from $351 million, or $2.60 a share, in the year-ago quarter. The bank was expected to earn $1.69 a share, according to the FactSet consensus estimate.

Revenue of $896 million beat the analyst consensus view of $878.3 million.

Third-quarter net interest income dropped to $601 million from $707 million but exceeded the analyst forecast of $392 million.

Total loans rose to $53.99 billion in the third quarter from $51.1 billion in the year-ago period but fell short of the analyst consensus view by about $870 million.

Total deposits dropped to $65.9 billion from just under $74 billion and fell short of the analyst estimate of $66.1 billion.

“Through strategic balance-sheet management, loans moderated and customer deposits grew, allowing us to absorb $6 billion in wholesale funding maturities,” Chief Executive Curtis C. Farmer said. “Excess cash and significant liquidity capacity provide flexibility as we position ourselves to further prioritize high-return growth in the future.”

Citi analyst Keith Horowitz reiterated a buy rating on the stock and said the bank signaled that its fourth-quarter preprovision net revenue would be $281 million, which is $3 million below the consensus estimate.

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