Assistance from Comerica will help provide free access to the aquarium every Thursday in August, and help support preservation and restoration of the park DETROIT, July 30, 2024 /PRNewswire/ -- The Belle Isle Conservancy is extending the aquarium's hours of operation to provide community members free access every Thursday in August with support from Comerica Bank. The bank's assistance, which includes a $10,000 contribution, will not only enable the aquarium to be open an extra day every week in August but ...

See notes to consolidated financial statements (unaudited). Table of Contents 3 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------|-------|---------|---------|---------| | (in millions) | | 2024 | | 2023 | | OPERATING ACTIVITIES | | | | | | Net income | $ | | 344 $ | 597 | | Adjustments to reconcile net income to net cash (used in) provided by operating activities: | | | | | | Provision for credit losses | | | 14 | 63 | | Benefit fo ...

DALLAS, July 23, 2024 /PRNewswire/ -- The Board of Directors of Comerica Incorporated (NYSE: CMA) declared a quarterly cash dividend for common stock of 71 cents ($0.71) per share. The dividend is payable Oct. 1, 2024, to shareholders of record at the close of business on Sept. 13, 2024. The Board also declared a dividend of $1,406.25 per share (equivalent to $14.0625 per depositary share) on the Series A Non-Cumulative Perpetual Preferred Stock of Comerica Incorporated, payable Oct. 1, 2024, to preferred s ...

Comerica (NYSE:CMA) is an American financial services company with over four hundred branches across the US, such as Texas, Michigan, California, Florida, and Arizona. It generated a quarterly total revenue of $1.53 billion, declining by 4.3% year-over-year. Furthermore, its net income from continuing operations attributable to common shareholders fell by 5.2% to $237 million. According to the report, the company's net income fell to $206 million from $273 million, but it beat analysts' estimates of $165.4 ...

Comerica shares closed at $50.42 on Friday. These analysts made changes to their price targets on Comerica following the announcement. Truist Securities analyst Brandon King downgraded Comerica from Buy to Hold and slashed the price target from $55 to $53. Barclays analyst Jason Goldberg maintained the stock with an Underweight rating and cut the price target from $59 to $56. Piper Sandler analyst Scott Siefers maintained Comerica with a Neutral rating and increased the price target from $51 to $52. Read Ne ...

JHVEPhoto/iStock Editorial via Getty Images Comerica lost its contract for the Direct Express debit card with the U.S. Treasury. Because this contract expires in early 2025, it does not impact 2024 financials. However with 4.5 million beneficiaries, this will be a large 2025 headwind. This program provided $3.3 billion of noninterest-bearing deposits, though CMA expects it to be a "long" process next year for these to wind down. Now, by next year, rates should be lower, but even assuming this funding is rep ...

Interest rate pressure and a lost government contract outweighed a better-than-expected quarter. Comerica (CMA -10.92%) topped quarterly expectations in its latest earnings report, but the bank delivered a couple of surprises that left investors feeling less confident about what lies ahead. Wall Street is mostly focused on the negative, sending Comerica shares down about 12% as of noon ET. Better, but not great Bank stock investors have had a lot to digest so far in 2024. The Federal Reserve's push to fight ...

The allowance for credit losses was $717 million, down 1.5% from the year-ago quarter. FNB's results were primarily affected by higher provisions, higher expenses and lower NII. Nonetheless, a higher non-interest income and a rise in average loans and deposit balances offered some support. As of Jun 30, 2024, Total loans increased 2% on a sequential basis to $51.9 billion. However, total deposits decreased 1.8% from the previous quarter to $62.5 billion. First Horizon Corporation's (FHN) adjusted earnings p ...

Key Takeaways Shares of Comerica (CMA) tumbled Friday despite second-quarter results beating estimates, as the regional bank said it has been informed by the U.S. Treasury that it likely won't be selected to continue exclusively providing the Direct Express card. Comerica's net income fell to $206 million from $273 million in the same quarter last year, but topped the $165.4 million consensus estimate of analysts compiled by Visible Alpha. The Treasury has given Comerica preliminary notice that it likely wo ...

Comerica Incorporated (NYSE:CMA) Q2 2024 Earnings Conference Call July 19, 2024 8:00 AM ET Company Participants Kelly Gage - Director, Investor Relations Curt Farmer - President, Chairman & Chief Executive Officer Jim Herzog - Chief Financial Officer Peter Sefzik - Chief Banking Officer Melinda Chausse - Chief Credit Officer Conference Call Participants Ken Usdin - Jefferies Chris McGratty - KBW Bernard Von Gizycki - Deutsche Bank Mike Mayo - Wells Fargo Manan Gosalia - Morgan Stanley Samuel Varga - UBS Ope ...