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United States

Comerica Inc (CMA.N)

CMA.N on New York Stock Exchange

68.35USD
7 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Comerica sets quarterly cash dividend of $0.23 per share
Tuesday, 8 Nov 2016 12:24pm EST 

Comerica Inc :Sets quarterly cash dividend of $0.23 per share.  Full Article

BRIEF-Comerica to complete two-thirds of job cut target by 2016
Tuesday, 18 Oct 2016 09:31am EDT 

Corrects headline to say "to complete two-thirds of job cut target by 2016" not "to reduce two-thirds of its workforce by 2016".thirds of job cut target by 2016" not "to reduce two-thirds of its workforce by 2016") Oct 18 (Reuters) - Comerica Inc : Comerica reports third quarter 2016 net income of $149 million . Says approximately two-thirds of workforce reduction target will be completed by year-end 2016 . Q3 earnings per share $0.84 . Q3 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Comerica Inc - $40 million in additional savings identified . Comerica Inc - quarter-end common equity tier 1 capital ratio 10.68 percent versus. 10.58 percent . Now expecting to drive at least $270 million in additional pre-tax income for full-year 2018 . Gear up initiative now includes expected pre-tax benefits of approximately $180 million in full-year 2017 . Qtrly net interest income $ 450 million versus $ 422 million . Comerica - expense reduction targets increased to approximately $150 million for full-year 2017, which increases to about $200 million for full-year 2018 . Comerica Inc qtrly provision for credit losses $16 million versus $26 million . Comerica - additional initiatives include new retirement program that will replace current pension plan and retirement account plan for most employees effective Jan 1. . Comerica Inc - total expected pre-tax restructuring charges of $140 million to $160 million to be incurred through 2018 are unchanged . Net interest income increased $5 million to $450 million in Q3 2016, compared to Q2 2016.  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

BRIEF-Comerica appoints Michael Collins to its board

* Michael E. Collins appointed to the Comerica Inc board of directors Source text for Eikon: Further company coverage: