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Wednesday, February 12


News

Comerica Incorporated Names Greg Carr, Executive Vice President of Wealth Management

CMA

DALLAS, Feb. 12, 2020 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) today announced that Greg Carr will be named Executive Vice President, Wealth Management, effective March 2, 2020. Michael J. Aust, Executive Vice President, Retail Bank, who announced his retirement on Jan. 28, 2020, has been serving as the interim leader for Wealth Management. "Greg brings to Comerica nearly 30 years of financial services experience, having spent over a decade in wealth management and the balance of his early career in commercial banking," said Farmer. Carr joins Comerica from Wells Fargo Private Bank, where he served as senior managing director for the Southeast region, leading a team who provided investment management, private banking, trust, estate, credit, and integrated wealth management services through Wells Fargo Bank, N.A., as well as insurance and brokerage services through Wells Fargo Advisors, LLC.

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Sunday, February 09


News

Tesla’s (TSLA) Sell Rating Reaffirmed at Barclays – Riverton Roll

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Barclays reiterated their sell rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Wednesday morning, Borsen Zeitung reports. Credit Suisse Group raised their price target on shares of Tesla from $340.00 to $415.00 and gave the company an underperform rating in a report on Thursday, January 30th. Eighteen investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Sumitomo Mitsui Trust Holdings Inc. now owns 1,448,917 shares of the electric vehicle producer’s stock worth $349,001,000 after buying an additional 733,764 shares in the last quarter.

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Saturday, February 08


News

Brokers Set Expectations for Comerica Incorporated’s FY2020 Earnings (NYSE:CMA) – Riverton Roll

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Piper Sandler analyst R. Siefers now forecasts that the financial services provider will post earnings per share of $6.66 for the year, up from their previous forecast of $6.54. Finally, Piper Jaffray Companies downgraded shares of Comerica from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $74.50 to $72.50 in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company. Wetherby Asset Management Inc. now owns 6,123 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 160 shares during the last quarter.

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Sunday, February 02


News

Q1 2020 EPS Estimates for Comerica Incorporated Lifted by Analyst (NYSE:CMA) – Riverton Roll

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Piper Jaffray Companies downgraded Comerica from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $74.50 to $72.50 in a research report on Thursday, October 17th. The company has a market cap of $8.82 billion, a P/E ratio of 7.78, a P/E/G ratio of 0.60 and a beta of 1.56. UBS Asset Management Americas Inc. now owns 1,109,129 shares of the financial services provider’s stock worth $80,567,000 after acquiring an additional 123,698 shares during the period. In other news, EVP Peter William Guilfoile sold 6,959 shares of the business’s stock in a transaction that occurred on Friday, November 8th.

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Saturday, February 01


News

Analysts Offer Predictions for Comerica Incorporated’s Q1 2020 Earnings (NYSE:CMA) – Riverton Roll

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Comerica Incorporated (NYSE:CMA) – Research analysts at B. Riley lifted their Q1 2020 earnings estimates for Comerica in a report issued on Tuesday, January 21st, according to Zacks Investment Research. B. Riley analyst S. Moss now expects that the financial services provider will post earnings per share of $1.65 for the quarter, up from their prior forecast of $1.55. B. Riley also issued estimates for Comerica’s Q4 2020 earnings at $1.68 EPS, Q1 2021 earnings at $1.59 EPS, Q2 2021 earnings at $1.79 EPS, Q3 2021 earnings at $1.82 EPS and Q4 2021 earnings at $1.86 EPS. JPMorgan Chase & Co. lowered shares of Comerica from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $70.00 to $65.00 in a research report on Thursday, October 17th.

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News

Visa (NYSE:V) Price Target Increased to $236.00 by Analysts at Citigroup – Tech Know Bits

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Several other brokerages also recently issued reports on V. Wedbush upped their price objective on shares of Visa from $195.00 to $215.00 and gave the company an outperform rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The firm has a market capitalization of $391.84 billion, a P/E ratio of 37.40, a P/E/G ratio of 2.13 and a beta of 0.93. California Public Employees Retirement System now owns 6,306,099 shares of the credit-card processor’s stock valued at $1,084,712,000 after acquiring an additional 783,989 shares in the last quarter.

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Friday, January 31


News

SunTrust Banks Weighs in on Comerica Incorporated’s Q1 2020 Earnings (NYSE:CMA) – Slater Sentinel

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Comerica Incorporated (NYSE:CMA) – Stock analysts at SunTrust Banks raised their Q1 2020 earnings per share estimates for shares of Comerica in a research note issued to investors on Tuesday, January 21st, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will post earnings of $1.69 per share for the quarter, up from their prior forecast of $1.63. Piper Jaffray Companies downgraded shares of Comerica from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $74.50 to $72.50 in a research note on Thursday, October 17th. Sumitomo Mitsui Trust Holdings Inc. now owns 672,385 shares of the financial services provider’s stock worth $48,244,000 after acquiring an additional 7,062 shares in the last quarter.

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Thursday, January 30


News

Comerica Bank's California Index Gains Again

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DALLAS, Jan. 30, 2020 /PRNewswire/ -- Comerica Bank's California Economic Activity Index increased in November to a level of 125.5. The index averaged 124.0 points in 2018, 2.8 points above the average for all of 2017. The California Economic Activity Index consists of eight variables, as follows: nonfarm payroll employment, continuing claims for unemployment insurance, housing starts, house price index, industrial electricity sales, total trade, technology stock index and hotel occupancy. Comerica Bank, with locations in the key California markets of San Francisco and the East Bay, San Jose, Los Angeles, Orange County, San Diego, Fresno, Sacramento, Santa Cruz/Monterey, and the Inland Empire, is a subsidiary of Comerica Incorporated (NYSE: CMA).

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News

Comerica Bank's Michigan Index Ticks Down

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DALLAS, Jan. 30, 2020 /PRNewswire/ -- Comerica Bank's Michigan Economic Activity Index declined in November to a level of 117.4. We expected the resolution of the GM/UAW strike in October to be a positive factor for the Michigan Index in November. However, the components of the Michigan Index remained mixed for the month. The Michigan Economic Activity Index consists of nine variables, as follows: nonfarm payroll employment, continuing claims for unemployment insurance, housing starts, house price index, industrial electricity sales, auto assemblies, total trade, hotel occupancy and sales tax revenue. Comerica Bank, with one of the largest banking center networks in Michigan, is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management.

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Tuesday, January 28


News

Comerica Directors Increase Dividend to 68 Cents

CMA

DALLAS, Jan. 28, 2020 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) announced an increase in our quarterly cash dividend for common stock from 67 cents($0.67) per share to 68 cents($0.68). "Today's dividend increase reflects our continued strong financial performance as we achieved record earnings per share in 2019," said Curt Farmer, Comerica's chairman and chief executive officer. Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Factors that could cause or contribute to such differences are changes in general economic, political or industry conditions; changes in monetary and fiscal policies; operational, systems or infrastructure failures; reliance on other companies to provide certain key components of business infrastructure; cybersecurity risks; whether Comerica may achieve opportunities for revenue enhancements and efficiency improvements under the GEAR Up initiative, or changes in the scope or assumptions underlying the GEAR Up initiative; Comerica's ability to maintain adequate sources of funding and liquidity; the effects of more stringent capital requirements; declines or other changes in the businesses or industries of Comerica's customers; unfavorable developments concerning credit quality; changes in regulation or oversight; heightened legislative and regulatory focus on cybersecurity and data privacy; fluctuations in interest rates and their impact on deposit pricing; transitions away from LIBOR towards new interest rate benchmarks; reductions in Comerica's credit rating; damage to Comerica's reputation; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; competitive product and pricing pressures among financial institutions within Comerica's markets; the interdependence of financial service companies; the implementation of Comerica's strategies and business initiatives; changes in customer behavior; management's ability to maintain and expand customer relationships; the effectiveness of methods of reducing risk exposures; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; the impacts of future legislative, administrative or judicial changes to tax regulations; any future strategic acquisitions or divestitures; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; losses due to fraud; the effects of terrorist activities and other hostilities; changes in accounting standards; the critical nature of Comerica's accounting policies; controls and procedures failures; and the volatility of Comerica's stock price.

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