Comerica (NYSE: CMA) shares plummeted 5.08% in intraday trading on Monday, despite the bank reporting better-than-expected first-quarter earnings. The sharp decline highlights investors' concerns about the company's future performance amidst growing economic uncertainty.
The Dallas-based financial services company reported earnings per share of $1.25 for the quarter ended March 31, surpassing analysts' expectations of $1.13. Revenue came in at $829 million, slightly below the estimated $831.34 million. Comerica's net income for the quarter stood at $172 million, with a return on equity (ROE) of 10.6%.
Despite the earnings beat, investors seemed to focus on Comerica's cautious outlook. The bank expects its second-quarter net interest income to remain relatively flat compared to the first quarter of 2025. While Comerica projects a 5-7% increase in net interest income for the full fiscal year 2025 compared to 2024, the company warned that an uptick in economic uncertainty is likely to pressure loan demand timing. This conservative guidance may have contributed to the stock's sharp decline, as investors reassess the bank's growth prospects in a challenging economic environment.
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