More Conservative Assumptions Should Help Fifth Third [Seeking Alpha]
Comerica Incorporated (CMA)
Last comerica incorporated earnings: 4/21 06:34 am
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US:NYSE Investor Relations:
investor.comerica.com
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Source: Seeking Alpha
SummaryFifth Third's underlying performance in the first quarter was better than expected, though it seems like COVID-19 hit some fee-generating businesses earlier than at other banks.Fifth Third will likely need to build reserves further, but management is using a more conservative outlook for the recovery than many peers.A 20% discount to the tangible book seems too high relative to the underlying credit loss risks and the quality of the bank.Fifth Third (FITBWFCBased on management disclosures, I don't think the fallout from the account issue will be nearly as bad as it has been for Wells Fargo. I also think that Fifth Third's riskier loan book is mitigated by management taking a more bearish view of the COVID-19 recession and recovery, leading the bank toward a more conservative reserving approach. Fifth Third has never been among my favorite banks from an operational standpoint, but at a 20% discount to tangible book, this is a name worth considering now.Solid Underlying Performan
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CMA
News
- Comerica Bank Statement on Direct Express Program Transition [Yahoo! Finance]Yahoo! Finance
- Comerica Bank Statement on Direct Express Program TransitionPR Newswire
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- Bryn Mawr Trust Continues Adding Advisory Business Talent to Meet Growth Demands [Yahoo! Finance]Yahoo! Finance
CMA
Earnings
- 10/18/24 - Beat
CMA
Sec Filings
- 11/21/24 - Form 3
- 11/21/24 - Form 4
- 11/12/24 - Form 4
- CMA's page on the SEC website