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INX:CMA, Jan 18, 02:46 UTC

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Thursday, January 16


News

Muted Lending, Low Rates to Hurt Comerica (CMA) Q4 Earnings

CMA

Muted Lending, Low Rates to Hurt Comerica (CMA) Q4 Earnings. The company’s third-quarter results were supported by non-interest income growth, higher deposits and lower expenses. However, lower loans and rise in provisions were the undermining factors. Muted Net Interest Income (NII): Per the Fed’s latest data, commercial and industrial, and revolving home equity loans slowed down in the quarter, which is likely to have affected NII. Also, the Fed’s interest rate cuts might have hurt Comerica’s net interest margin. However, the Zacks Consensus Estimate for average earning assets of $66.4 billion for the quarter indicates 1.1% year-over-year growth.

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  • Financial

Wednesday, January 15


News

Comerica Bank Names Irvin Ashford, Jr. Chief Community Officer

CMA

DALLAS, Jan. 15, 2020 /PRNewswire/ -- Comerica Bank has named Irvin Ashford, Jr., its new Chief Community Officer. Ashford, will be responsible for community reinvestment nationally and all associated activities, including development, lending, community investments, volunteerism and data analysis. Additionally, he will lead Comerica's diversity business resource groups. Ashford previously served as Comerica's National Director of Financial Education and External Affairs and will maintain these responsibilities in his new role. Ashford will report directly into the Office of the Chairman. Coupled with the Comerica Money $ense program, the bank has developed the Financial Education Brigade, a collection of employee volunteers dedicated to improving the community through financial empowerment. "For 170 years, Comerica has placed an importance in serving its community. Our goal is to continue to help our communities thrive and through programs promoting financial education, community and business development and diversity, we can truly help individuals and our communities succeed." Ashford has remained a pillar in the community, aiding various civic and community groups that include serving on the board of directors for the Texas Women's Empowerment Foundation (TWEF), Dallas Theater Center, Kym's Kids and Focus on Teens.

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Topics:
  • Business
  • Financial
  • Science

Friday, January 10


News

Comerica Incorporated to Post Q1 2020 Earnings of $1.63 Per Share, SunTrust Banks Forecasts (NYSE:CMA) – Riverton Roll

CMA STI

Comerica Incorporated (NYSE:CMA) – Research analysts at SunTrust Banks reduced their Q1 2020 earnings per share (EPS) estimates for Comerica in a report released on Tuesday, December 31st, Zacks Investment Research reports. Morgan Stanley upped their price objective on shares of Comerica from $75.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock valued at $52,000 after buying an additional 445 shares during the period.

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  • Business
  • Financial

Wednesday, January 08


News

Comerica Incorporated (CMA) vs. Top 20 Hedge Fund Stocks in 2019

CMA

We analyze quarterly 13F filings of nearly 750 hedge funds and, by looking at the smart money sentiment that surrounds a stock, we can determine whether it has the potential to beat the market over the long-term. Therefore, let’s take a closer look at what smart money thinks about Comerica Incorporated (NYSE:CMA) and compare its performance to hedge funds' consensus picks in 2019. Most estimates calculate that this group of people control the lion's share of the hedge fund industry's total asset base, and by shadowing their matchless picks, Insider Monkey has determined many investment strategies that have historically outpaced Mr. Market. With the smart money's capital changing hands, there exists a select group of key hedge fund managers who were upping their holdings substantially (or already accumulated large positions). When looking at the institutional investors followed by Insider Monkey, AQR Capital Management, managed by Cliff Asness, holds the number one position in Comerica Incorporated (NYSE:CMA). Unfortunately CMA wasn't nearly as popular as these 20 stocks and hedge funds that were betting on CMA were disappointed as the stock returned 8.5% in 2019 and trailed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 20 most popular stocks among hedge funds as many of these stocks already outperformed the market so far this year.

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Topics:
  • Business
  • Financial

Friday, January 03


News

Comerica Bank's California Index Improves

CMA

DALLAS, Jan. 3, 2020 /PRNewswire/ -- Comerica Bank's California Economic Activity Index increased in October to a level of 125.0. The index appears to have broken out of this range in the last quarter of 2019, consistent with a California economy growing at a moderate pace. The Federal Reserve's 75 basis points worth of cuts on short-term borrowing helped put downward pressure on mortgages last year. However, the benefit to California's housing sector may only be marginal in 2020 as the Fed expects to keep policy rates unchanged this year. 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.

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  • Financial
News

Comerica Bank's Texas Index Ticks Up

CMA

DALLAS, Jan. 3, 2020 /PRNewswire/ --Comerica Bank's Texas Economic Activity Index increased in October to 140.4. October's index reading was 45 points, or 47 percent, above the index cyclical low of 95.5. The Texas 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, Texas rotary rig count, total trade, hotel occupancy and sales tax revenue. Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), the largest U.S. commercial bank headquartered in Texas, strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management.

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News

Comerica Bank's Michigan Index Dips Again

CMA

DALLAS, Jan. 3, 2020 /PRNewswire/ -- Comerica Bank's Michigan Economic Activity Index declined in October to a level of 117.8. The index averaged 118.6 points for all of 2018, 0.2 points above the index average for 2017. We expect the Michigan Index to rebound in November, showing the positive impact of the strike's early-November resolution. For October, only two out of nine components of the Michigan Index were positive. 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.

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  • Business
  • Financial

Thursday, January 02


News

$807.51 Million in Sales Expected for Comerica Incorporated (NYSE:CMA) This Quarter – Trent Times

CMA

Comerica reported sales of $864.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 6.5%. According to Zacks, analysts expect that Comerica will report full year sales of $3.35 billion for the current year, with estimates ranging from $3.34 billion to $3.37 billion. For the next fiscal year, analysts expect that the company will post sales of $3.19 billion, with estimates ranging from $3.06 billion to $3.32 billion. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. Piper Jaffray Companies downgraded shares of Comerica from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $74.50 to $72.50 in a research report on Thursday, October 17th.

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  • Financial

Monday, December 30


News

Comerica (NYSE:CMA) Downgraded by ValuEngine to “Sell” – Slater Sentinel

CMA

Piper Jaffray Companies downgraded Comerica from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $74.50 to $72.50 in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. The financial services provider reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.06. In other Comerica news, EVP Peter William Guilfoile sold 6,959 shares of Comerica stock in a transaction dated Friday, November 8th.

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Topics:
  • Business
  • Financial

Friday, December 27


News

Comerica (NYSE:CMA) PT Raised to $77.00 – Slater Sentinel

CMA

Morgan Stanley currently has an equal weight rating on the financial services provider’s stock. Finally, JPMorgan Chase & Co. cut shares of Comerica from a neutral rating to an underweight rating and cut their price target for the stock from $70.00 to $65.00 in a research note on Thursday, October 17th. Comerica’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Comerica will post 7.7 earnings per share for the current fiscal year. Nuveen Asset Management LLC now owns 1,601,235 shares of the financial services provider’s stock valued at $116,313,000 after buying an additional 1,584,537 shares in the last quarter.

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Topics:
  • Business
  • Financial