Why Comerica (CMA) Stock Is Rising

Comerica Incorporated CMA shares are trading higher by 3.5% to $49.77 going into the close of Tuesday's session. Comerica shares are seeing strength amid earnings results from several banks on Tuesday.

Traders and investors will also be watching for Comerica's second-quarter earnings report, which is confirmed for Friday before the market open. The company is expected to report EPS of $1.86 on revenue of $902.75 million.

What's Going On With Peer Banks?

Bank of America on Tuesday announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion. During the same period, earnings per share (EPS) amounted to 88 cents, surpassing the previous year's figure of 73 cents and exceeding the consensus estimate of 84 cents.

Furthermore, Bank of America's revenue exhibited an 11% year-on-year increase, reaching $25.33 billion, surpassing the analyst consensus estimate of $25.05 billion...Read More

According to data from Benzinga Pro, CMA has a 52-week high of $87.02 and a 52-week low of $28.40.