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Comerica Incorporated

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Following the discovery of irregularities tied with a $26 million loan, Comerica announced revised earnings for fourth-quarter and full-year 2015. The company increased provision for credit losses, booked a charge-off and reduced incentive compensation expense as of Dec 31, 2015. The company's previously reported fourth-quarter 2015 earnings outpaced the Zacks Consensus Estimate, in spite of declining from the prior-year quarter figure. Bottom-line growth reflected higher revenues. Although we expect continuous geographic diversification beyond the company’s traditional and slow-growth Midwest markets to drive growth in the upcoming quarters, higher expenses and provisions would be the undermining factors. Moreover, regulatory overhangs and margin pressure continue to pose concerns.


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