CMA Comerica Incorporated featured news, full reports, and detailed charts
Comerica Incorporated (CMA) Wrap Up:
Comerica Incorporated, through its subsidiaries, provides financial products and services in the United States. The companys Business Bank segment comprises middle market, commercial real estate, national dealer services, international finance, global corporate, leasing, financial services, and technology and life sciences businesses. This segment offers commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services to medium-size businesses, multinational corporations, and governmental entities. Its Retail Bank segment offers small business banking and personal financial services, including consumer lending, consumer deposit gathering, and mortgage loan origination. This segment also provides consumer products, including deposit accounts, installment loans, credit cards, student loans, home equity loans and lines of credit, and residential mortgage loans to small business customers. The companys Wealth and Institutional Management segment offers products and services, consisting of fiduciary services, private banking, retirement services, investment management and advisory services, investment banking, and discount securities brokerage services. This segment also sells annuity products, as well as life, disability, and long-term care insurance products. As of December 31, 2008, Comerica Incorporated, through its banking affiliates, operated approximately 507 banking centers, trust services locations, and loan production or other financial services offices primarily in the states of Texas, Michigan, California, and Florida. The company was founded in 1849 and is headquartered in Dallas, Texas.www.comerica.com
9,732 Employees
Founded in 1849
Comerica Incorporated (CMA:NYSE)
LAST $27.91 USD
CHANGE TODAY -0.16 -0.57%
VOLUME 1.4M
As of 4:04 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Comerica Incorporated (CMA)
|
OPEN
$27.93
|
PREVIOUS CLOSE
$28.07
|
||
|
DAY HIGH
$28.21
|
DAY LOW
$27.62
|
||
|
52 WEEK HIGH
10/20/09 - $32.30
|
52 WEEK LOW
03/5/09 - $11.72
|
||
|
MARKET CAP
4.2B
|
AVERAGE VOLUME 3 mo
1.7M
|
||
|
DILUTED EPS TTM
$-0.36
|
SHARES OUTSTANDING
151.1M
|
||
|
EX-DATE
12/11/09
|
P/E TTM
NM
|
||
|
DIVIDEND
$0.20
|
DIVIDEND YIELD
0.72%
|
||
| K = Thousands M = Millions B = Billions | |||
| > | |||
related news
Financial Stocks Lead Market Rally
10/05/2009 4:25 PM ET
How Real Is the Rally in Real Estate Bonds?
09/17/2009 5:00 PM ET
Credit Finally Loosens Up for DreamWorks
08/17/2009 7:00 PM ET
Norwalk Furniture: The Factory That Refused to Die
07/23/2009 5:00 PM ET
CMA Top Compensated Officers
Mr. Ralph W. Babb Jr.
Chairman, Chief Executive Officer, President,...
Age: 60
Total Annual Compensation: $985.0K
Mrs. Beth Acton
Chief Financial Officer, Executive Vice Presi...
Age: 57
Total Annual Compensation: $512.5K
Ms. Connie Beck
Executive Vice President of Small Business, E...
Age: 63
Total Annual Compensation: $596.0K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Comerica Incorporated (CMA)
Comerica Incorporated Declares Quarterly Cash Dividend Payable on January 1, 2010
11/17/2009
The Board of Directors of Comerica Incorporated declared a quarterly cash dividend for common stock of $0.05 per share. The dividend is payable on January 1, 2010, to common stock shareholders of record December 15, 2009.
Comerica Incorporated Opens Banking Centre in Beverly Hills
10/27/2009
Comerica Incorporated has announced that it has opened a banking centre in Beverly Hills. The bank is expanding its operations in the greater Los Angeles area by opening a new full-service banking centre in Beverly Hills.
Comerica Incorporated Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/20/2009
Comerica Incorporated announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net interest income of $385 million compared to $466 million for the same period last year. The $17 million decrease in net interest income in the third quarter 2009, when compared to second quarter 2009, resulted primarily from decreases in the net interest margin and loans, partially offset by the impact of one more day, $4 million. The company reported return on average common shareholders equity negative to 1.27% and return on average assets of 0.12% compared to return on average common shareholders equity of 2.25% and return on average assets of 0.18% for the same period last year. The company reported income from continuing operations of $19 million or $0.10 diluted loss per share compared to income from continuing operations of $27 million or $0.18 diluted earnings per share for the same period last year. The company reported book value per common share of $31.90 compared to $33.89 for the same period last year. For the nine months, the company reported net interest income of $1,177 million compared to $1,387 million for the same period last year. The company reported return on average common shareholders equity negative to 1.48% and return on average assets of 0.09% compared to return on average common shareholders equity of 5.00% and return on average assets of 0.40% for the same period last year. The company reported income from continuing operations of $45 million or $0.37 diluted loss per share compared to income from continuing operations of $193 million or $1.28 diluted earnings per share for the same period last year.
CMA Competitors
| Company | Last | Change |
| Associated Banc | $11.27 USD | -0.22 |
| Fifth Third Bancorp | $9.97 USD | -0.08 |
| Huntington Bancshares Inc | $3.78 USD | -0.05 |
| KeyCorp | $5.73 USD | -0.09 |
| TCF Financial Corp | $12.40 USD | +0.26 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | CMA | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 2.7x |
|
| Price/Book | 0.9x |
|
| Price/Cash Flow | 64.3x |
|
| TEV/Sales | NM | Not Meaningful |
|
CMA |
||
|
CMA transactions
| Type Date |
Target |
|
Bankruptcy
October 27, 2009 |
California Coastal Communities Inc. |
More Recent News About Comerica Incorporated
More news for CMA
Michigan Tourism Index Holds Steady in Third Quarter, Reports Comerica Bank
DALLAS, Oct. 30 /PRNewswire-FirstCall/ -- Comerica Bank's Michigan Tourism Index remained unchanged at a level of 89 in the third quarter of 2009. Third quarter's reading is up two points from the Index's cyclical low of 87. The Index average for the first three quarters of 2009 is 89, three points below the average for all of 2008. (Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)"The modest rebound seen in the first half of 2009 appears to have stalled in the third quarter," said Dana Johnson, Chief Economist at Comerica Bank. "Looking ahead, as labor markets begin to stabilize and corporate profitability improves, personal and business travel should contribute positively to our Index, although likely at a gradual pace."As of this release, the Michigan Tourism Index's seasonal factors have been re-estimated dating back to 1980. Revised Index levels associated with this adjustment are available upon request.The Michigan Tourism Index is a quarterly summary of six equally weighted, seasonally adjusted travel, lodging and entertainment data series. These series serve as a proxy for statewide tourism activity.Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada ...Click here to read the whole Article (external link)
Commercial Real Estate Loans A Growing Problem For Banks
Housing may be starting to turn the corner. But commercial real estate's woes may be just beginning. Banks' loan quality "continues to deteriorate," in large part due to commercial real estate, said Jon Greenlee, associate director of the Federal Reserve's banking supervision and regulation division, before a House panel.Over the next 15 months, $2 trillion worth of commercial mortgages will mature, notes Jeffrey Rogers, president of Manhattan-based Integra Realty Resources, appraisers of commercial real estate. With office vacancy rates soaring, rents deflating and property values still falling, lenders face rising default rates likely to trigger new write-offs. Many banks have yet to bite the bullet and address the problem.In all, banks stand to lose $200 billion to $300 billion on commercial real estate loans, estimates Richard Parkus, head of commercial real estate debt research at Deutsche Bank Securities. In an Oct. 28 report that has attracted the attention of several government agencies, Parkus predicted that "many hundreds" of banks will fail due to their exposure to commercial real estate.On Friday, billionaire Wilbur Ross lent his voice to those predicting a "huge crash in commercial real estate," Bloomberg reported. Fellow megainvestor George Soros predicted a "bloodletting."Lenders are learning that many commercial property owners can't pay back loans -- or qualify for new ones. Delinquency rates on construction loans have already soared to 16% and could go much higher, notes Parkus.And yet to this point, he adds, the banks have taken very little in charge-offs or reserves for commercial real estate losses. "Less than 1% of commercial real estate loans have been written off. Our expectation is that losses will exceed 8%," Parkus told IBD. And despite the 16% delinquency rate, banks ha...Click here to read the whole Article (external link)
California Economic Recovery Gathering Momentum, Reports the Comerica Bank California Economic Activity Index
DALLAS, Nov. 2 /PRNewswire-FirstCall/ -- Comerica Bank's California Economic Activity Index increased one point in September, to a level of 102. September's reading marks the sixth consecutive monthly increase. It is now up 11 points, or 12 percent, cumulatively from its March cyclical low of 91. The index also now exceeds its previous peak reached in January 2008. (Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)"In September, the employment component of our Index again declined as it had in each of the previous 14 months," said Dana Johnson, Chief Economist at Comerica Bank. "Otherwise, our Index is showing broad-based improvement, with each of the other eight components contributing to the uptrend over the past six months. With the national economy now expanding, I expect employment in California will start trending higher in the first half of 2010."The California Economic Activity Index equally weights nine seasonally-adjusted coincident indicators of real economic activity. These indicators reflect activity in the manufacturing, tourism, travel and trade sectors, as well as job growth and consumer outlays. The Index levels represent a three-month moving average, used to smooth monthly volatility. The Index is benchmarked so that 2008 equals 100. A complete historical series dating to 1997 is available upon request.Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships, and helping people a...Click here to read the whole Article (external link)
COMERICA INC /NEW/ Financials
PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue826,000 850,000 786,000 890,000 Cost of Revenue89,000 106,000 125,000 158,000 Gross Profit737,000 744,000 661,000 732,000 Operating ExpensesResearch Development - - - - Selling General and Administrative391,000 428,000 398,000 410,000 Non Recurring8,000 - - 3,000 Others311,000 313,000 202,000 190,000 Total Operating Expenses - - - - Operating Income or Loss27,000 3,000 61,000 129,000 Income from Continuing OperationsTotal Other Income/Expenses Net - - - - Earnings Before Interest And Taxes27,000 3,000 61,000 129,000 Interest Expense37,000 44,000 54,000 127,000 Income Before Tax(10,000)(41,000)7,000 2,000 Income Tax Expense(29,000)(59,000)(1,000)(17,000)Minority Interest - - - - Net Income From Continuing Ops19,000 18,000 8,000 19,000 Non-recurring EventsDiscontinued Operations - - 1,000 1,000 Extraordinary Items - - - - &nbs...Click here to read the whole Article (external link)
Comerica Directors Declare Dividend
Copyright © 2009 Yahoo! All rights reserved. Privacy Policy - Terms of Service - Copyright Policy - Report Problems Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quote data delayed 15 minutes for Nasdaq, NYSE and Amex. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Yahoo! is not an investment adviser and does not provide, endorse or review any information or data contained herein....Click here to read the whole Article (external link)
Auto Affordability Reaches New Index Best, Comerica Bank Chief Economist Reports
DALLAS, Nov. 9 /PRNewswire-FirstCall/ -- The purchase and financing of an average-priced new vehicle took 21.9 weeks of median family income in the third quarter of 2009, according to Comerica Bank's Auto Affordability Index. The third quarter reading improved 0.6 of a week, pushing the latest Index reading to the best affordability on record. Median family income was roughly unchanged in the third quarter. The average total cost of a light vehicle, however, fell by $800 to $25,500. The drop mostly reflected a 2.4 percent decline in the average amount spent on a new car. (Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)"The impact of the cash-for-clunkers program cannot be isolated in the data that we use to construct our Index," said Dana Johnson, Chief Economist at Comerica Bank. "However, the average amount that consumers spent on new vehicles in the third quarter was the lowest since early 2004. That along with the monthly pattern of sharp declines in July and August strongly suggests that the federal rebate program was largely responsible for the improvement in affordability this past quarter. In all likelihood, affordability will deteriorate modestly in the current quarter now that these rebates are unavailable."This report incorporates the latest data on consumer spending on light vehicles and on the terms available on auto loans. The full history of the Index is available upon request.Comerica Incorporated (NYSE: CMA - ...Click here to read the whole Article (external link)
COMERICA INC /NEW/ Files SEC form 8-K, Regulation FD Disclosure, Financial Statements and Exhibits
Show all filings for COMERICA INC /NEW/ | Request a Trial to NEW EDGAR Online Pro Form 8-K for COMERICA INC /NEW/ 9-Nov-2009Regulation FD Disclosure, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informa...Click here to read the whole Article (external link)
Would you like to leave a comment about Comerica Incorporated CMA
Find out what social network information about Comerica Incorporated are available on RealpenniesWorst 5 - Click here to find out what stocks have been voted down by our visitors and users
Besides Comerica Incorporated there is more great information available at Realpennies.com