Earnings Preview: Comerica Incorporated

Comerica Incorporated CMA is set to report earnings tomorrow after the bell, and Wall Street will be looking forward to hearing how the mid-sized regional bank is performing in this tough U.S. economy. Regional banks have more exposure to construction lending, which is still a huge percentage of the U.S. economy. At last check, shares of Comerica were off 58 cents to $32.01, a loss of 1.8% on the day. This is slightly more than the ~1% drop the broader equity markets are seeing. At 12.2 times 2012 earnings and sporting a 1.2% dividend yield, shares of Comerica are not cheap, but not expensive either, especially given the sector multiple that regional banks have been given. Wall Street is expecting earnings of 53 cents per share on $593.96 million in revenues. Guidance for next quarter is expected to come in at 52 cents per share on $628.75 million in revenues. Comerica Incorporated, through its subsidiaries, provides various financial products and services in the Midwest, Western, Texas, and Florida, the United States.