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Comerica Inc (CMA.N)

CMA.N on New York Stock Exchange

69.37USD
18 Aug 2017
Change (% chg)

$-0.11 (-0.16%)
Prev Close
$69.48
Open
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Day's High
$70.05
Day's Low
$68.91
Volume
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$75.72
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$45.15

Latest Key Developments (Source: Significant Developments)

Comerica increases quarterly cash dividend by 15 pct to $0.30/share
Tuesday, 25 Jul 2017 12:04pm EDT 

July 25 (Reuters) - Comerica Inc ::Comerica declares dividend increase of 15 percent.Increases quarterly cash dividend by 15 percent to $0.30 per share.  Full Article

Comerica reports qtrly income per common share $1.13
Tuesday, 18 Jul 2017 06:37am EDT 

July 18 (Reuters) - Comerica Inc ::Comerica reports second quarter 2017 earnings.Comerica Inc - qtrly income per common share $1.13 ‍​.Comerica Inc - Q2 net interest income $500 million versus $445 million last year.Comerica inc - q2 provision for credit losses $17 million versus $49 million last year.Q2 earnings per share view $1.06 -- Thomson Reuters I/B/E/S.Comerica Inc sees restructuring charges of $40 to $50 million in full year 2017, compared to $93 million in 2016..Comerica inc sees full-year 2017 provision of 20-25 basis points and net charge-offs to remain low ‍​.Comerica Inc - for FY 2017, co expects gear up initiative of $30 million in revenue and $125 million in expense savings.Comerica Inc sees 2017 growth in average loans of 1 percent.Comerica Inc - Q2 2017 average loan growth of $823 million, or 2 percent.Comerica Inc - quarter-end common equity tier 1 capital ratio 11.51 percent versus 10.49 in Q2 2016.Comerica Inc sees full-year 2017 net interest income higher‍​.  Full Article

Comerica announces results of Federal Reserve's review of 2017 capital plan
Wednesday, 28 Jun 2017 04:48pm EDT 

June 28 (Reuters) - Comerica Inc ::Comerica announces results of Federal Reserve's review of 2017 capital plan.Comerica Inc - plan includes equity repurchases of up to $605 million for four-quarter period commencing in Q3 2017 and ending in Q2 2018.Comerica Inc - at its meeting on July 25, board will consider increasing co's qtrly dividend to $0.30 per share, a 15 percent increase over current dividend rate.  Full Article

Comerica Bank to invest up to $5 mln in Detroit home mortgage managed by Community Reinvestment Fund
Friday, 16 Jun 2017 10:00am EDT 

June 16 (Reuters) - Comerica Bank:Comerica bank says will invest up to $5 million in detroit home mortgage which is managed by community reinvestment fund, usa.  Full Article

Comerica announces adjustments for legacy sterling warrants
Tuesday, 13 Jun 2017 09:00am EDT 

June 13 (Reuters) - Comerica Inc :Comerica announces adjustments for legacy sterling warrants.Comerica - adjustments in accordance with terms of outstanding legacy sterling bancshares, warrants to purchase shares of co stock, par value $5/ share.Comerica Inc - sterling warrant exercise price will be reduced to $7.177 per share and warrant share number will be increased to 0.24 per share.Comerica Inc - each of these adjustments will be effective on june 15, 2017.  Full Article

Comerica increase quarterly dividend by 13 pct to $0.26/shr
Tuesday, 25 Apr 2017 01:48pm EDT 

April 25 (Reuters) - Comerica Inc :Comerica directors increase quarterly dividend 13 percent to 26 cents per share.  Full Article

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

BRIEF-Comerica increases quarterly cash dividend by 15 pct to $0.30/share

* Increases quarterly cash dividend by 15 percent to $0.30 per share Source text for Eikon: Further company coverage: