Comerica (CMA) Aided by NII & Loan Growth Amid Cost Woes

Comerica's income-generation capability relies heavily on its loan growth. The total loans witnessed a four-year compound annual growth rate (CAGR) of nearly 1% (ended 2023). Although the metric witnessed a decline in the first quarter of 2024 on the back of balance sheet management, a robust loan pipeline will support growth in the upcoming quarters. Though the company's exit from the mortgage finance business is likely to weigh on loan growth, decent loan demand is likely to keep the growth trend stable. ...