BOSTON - Comerica bank is down nearly 10% despite the company tripling its earnings from a year ago. Management has said there has been a drop in bad loans but that loan demand is weak. Ralph Babb Jr the CEO of Comerica’s said this morning that Comerica continues to look for acquisitions. The bank has more capital than it needs but he did not state whether he was planning a stock buy back or a dividend raise.
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Wednesday, October 20, 2010
The Puzzling Comerica Drop (NYSE: CMA)
BOSTON - Comerica bank is down nearly 10% despite the company tripling its earnings from a year ago. Management has said there has been a drop in bad loans but that loan demand is weak. Ralph Babb Jr the CEO of Comerica’s said this morning that Comerica continues to look for acquisitions. The bank has more capital than it needs but he did not state whether he was planning a stock buy back or a dividend raise.
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