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What: Shares of regional banker Comerica
So what: Last night's third-quarter report showed earnings of $0.51 per share, 66% above the year-ago period. According to FactSet, that was $0.02 per share short of analyst targets.
Now what: Most of the growth comes from the just-completed acquisition of Texas bank Sterling Bancshares, which was hailed as a slam-dunk deal almost a year ago. Regulatory reviews held up the closing, which added to Comerica's costs and delayed the expected returns. Well, with Sterling safely under its belt, Comerica now plays in roughly the same league as Regions Financial
Interested in more information about Comerica? Add it to My Watchlist.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. You can check out Anders' holdings and a concise bio, follow him on Twitter or Google+, or peruse our Foolish disclosure policy.
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