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Financial services company, Comerica Incorporated( CMA ) has missed profit expectations due to a drop in loans to commercial mortgage customers.

The Dallas based company reported less than expected profits for their third quarter. CMA reported profit of $116 million, or 61 cents a share, a 16.4% increase from last years reported profit of $97 million, or 51 cents a share. Analysts at Thomson Reuters expected earnings of 65 cents per share.

It was reported that the company's miss in profit expectations was due to a decline in commercial mortgage loans, which dropped by 6% to $9.67 billion.

Comerica shares were mostly flat during premarket trading Wednesday.

The Bottom Line
Shares of Comerica ( CMA ) have a 1.93% dividend yield, based on last night's closing stock price of $31.04. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.

Comerica Incorporated( CMA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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