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Comerica Inc (CMA.N)

CMA.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Comerica Inc Q1 2017 net income $202 million
Tuesday, 18 Apr 2017 06:43am EDT 

April 18 (Reuters) - Comerica Inc :Comerica Inc - reports Q1 2017 net income of $202 million.Comerica Inc - earnings per diluted share were $1.11 for Q1 2017.Comerica Inc - qtrly net interest income $470 million versus $447 million last year.Comerica Inc - quarter-end common equity tier 1 capital ratio 11.54 percent versus 11.09 percent in previous quarter.Comerica Inc - qtrly provision for credit losses $16 million versus $148 million last year.Q1 earnings per share view $0.93 -- Thomson Reuters I/B/E/S.Comerica Inc - Q1 2017 results included $24 million of tax benefits from employee stock transactions.Comerica Inc sees growth in average loans of 1-2 percent for 2017.Comerica Inc sees 2017 net interest income higher compared to 2016.Qtrly average total loans decreased $1.0 billion to $47.9 billion compared to Q4 2016.  Full Article

Comerica Bank Raises Prime Rate
Wednesday, 14 Dec 2016 05:17pm EST 

Comerica Inc :Comerica Inc - It will raise its prime rate to 3.75 percent from 3.50 percent effective tomorrow.  Full Article

Comerica declares dividend increase of 4.5 percent
Tuesday, 26 Jul 2016 11:47am EDT 

Comerica Inc : Comerica declares dividend increase of 4.5 percent . Sets quarterly cash dividend of $0.23 per share .Board authorized increase of number of shares under share repurchase program by up to 10 million additional shares.  Full Article

Comerica posts Q2 earnings of $0.58/share
Tuesday, 19 Jul 2016 06:50am EDT 

Comerica Inc: Comerica reports second quarter 2016 financial results . Q2 earnings per share $0.58 . Q2 earnings per share view $0.69 -- Thomson Reuters I/B/E/S . Q2 net interest income $445 million versus $421 million last year . Expense reductions to be achieved through an approximately 9 percent reduction in workforce . Revenue enhancements expected to be approximately $30 million by year-end 2017, which increase to approximately $70 million by year-end 2018 . Cost reductions to be achieved by streamlining operational processes, real estate optimization including consolidating 40 banking centers . Sees 2016 net interest income higher, primarily reflecting benefits from December 2015 short-term rate increase . Sees 2016 provision for credit losses higher, reflecting q1 2016 reserve build for energy . Sees FY 2016 average loans modestly higher, in line with gross domestic product growth . "Believe with reserve allocation at over 8 percent of energy loans as of June 30, we are adequately reserved" . Estimated Q2 Basel III common equity tier 1 capital ratio 10.48 percent versus. 10.53 percent last year . Q2 provision for credit losses $49 million versus. $47 million last year . Efficiency and revenue initiative actions identified to-date expected to drive an additional $230 million in annual pre-tax income by year-end 2018 . Actions through "gear up" expected to deliver additional annual pre-tax income of approximately $230 million by year-end 2018.  Full Article

Comerica says Federal Reserve did not object to 2016 capital plan
Wednesday, 29 Jun 2016 05:08pm EDT 

Comerica Inc : Comerica announces results of Federal Reserve's review of 2016 capital plan . Plan includes equity repurchases of up to $440 million board to consider an increase to quarterly dividend in July . Federal Reserve did not object to capital plan includes equity repurchases of up to $440 million board . Board to consider an increase to quarterly dividend in July .Board will consider increasing company's quarterly dividend to $0.23 per common share, a 4.5 percent increase over current dividend rate.  Full Article

Comerica Bank says executive VP of business bank decided to retire
Tuesday, 14 Jun 2016 04:02pm EDT 

Comerica Bank: Says Patrick Faubion , executive vice president of business bank, has decided to retire in january 2017 .Says Comerica president Curtis Farmer will assume direct oversight of business bank leadership team.  Full Article

Comerica appoints David Duprey as CFO
Tuesday, 3 May 2016 05:00pm EDT 

Comerica Inc:David e. Duprey named chief financial officer of Comerica.Duprey succeeds Karen L. Parkhill , vice chairman and chief financial officer, who is leaving to pursue other opportunities.  Full Article

Comerica Inc announces quarterly dividend
Tuesday, 26 Apr 2016 02:39pm EDT 

Comerica Inc:Increases quarterly cash dividend for common stock 5 percent to 22 cents ($0.22) per share.Says dividend is payable July 1, 2016, to common stock shareholders of record on June 15, 2016.  Full Article

Comerica Directors Declare Dividend
Tuesday, 26 Jan 2016 02:50pm EST 

Comerica Incorporated:declared a quarterly cash dividend for common stock of $0.21 per share.The dividend is payable April 1, 2016, to common stock shareholders of record March 15, 2016.  Full Article

Comerica Inc declares dividend
Tuesday, 10 Nov 2015 03:33pm EST 

Comerica Inc:Declared a quarterly cash dividend for common stock of $0.21 per share.Dividend is payable January 1, 2016, to common stock shareholders of record December 15, 2015.  Full Article

More From Around the Web

Comerica quarterly profit beats as bad loan reserves fall

Comerica Inc reported a better-than-expected quarterly profit on Tuesday as a recovery in crude oil prices eased pressure on the regional lender's energy lending business and helped cut provision for future loan losses.