An Unfavorable Deposit Mix Shift and Lower Revenue Guidance Highlight Comerica's Tough First Quarter
Although narrow-moat rated Comerica reported a decent first-quarter 2019, as the bank works to maintain profitability in a slowing interest rate cycle, an unfavorable deposit mix shift and lower revenue guidance from management highlight just how difficult this can be. Earnings per share grew 32% year over year, largely driven by increasing net interest income, but in the face of slowing growth management has lowered both net interest income and fee income growth guidance. After several adjustme...Comerica is a financial holding company, engaged in lending to and accepting deposits from businesses and individuals. The company's segments are: Business Bank, which provides commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services; Retail Bank, which provides consumer lending, consumer deposit gathering and mortgage loan origination; and Wealth Management, which provides products and services consisting of fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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