Soft interest income due to low rates might have hurt Comerica's (CMA) Q1 earnings despite fee income strength.
Comerica Incorporated (NYSE: CMA) announced today that John Lynch has been named Chief Investment Officer. Lynch will join its Comerica Asset Management Group, the investment management division of Comerica, on May 26, 2020, and will report to Greg Carr, Executive Vice President, Wealth Management.
Comerica Bank's Texas Economic Activity Index increased in February to 143.3. February's index reading was 48 points, or 50 percent, above the index cyclical low of 95.5. The index averaged 139.1 points for all of 2019, 3.8 points above the average for 2018. January's index reading was 142.2.
NEW YORK, NY / ACCESSWIRE / April 21, 2020 / Comerica, Inc. (NYSE:CMA) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 21, 2020 at 8:00 AM Eastern ...
Comerica Bank announced today that it is continuing to accept loan applications for the Small Business Administration's Paycheck Protection Program in expectation of additional funds being approved by Congress. Additionally, Comerica is ensuring that all Economic Impact Payments (EIP)-eligible customers receive their full stimulus payment regardless of their account status.
Comerica Bank's California Economic Activity Index increased in February to a level of 126.7. February's reading was 29 points, or 30 percent, above the index cyclical low of 97.8. The index averaged 124.4 points in 2019, 0.5 points above the average for all of 2018. January's reading was revised to 126.4.
Banks' Q1 results are likely to be disappointing amid lower rates, a tough operating backdrop and coronavirus-related concerns.
Comerica Incorporated (NYSE: CMA) announced its Board of Directors declared a quarterly cash dividend for common stock of 68 cents ($0.68) per share. The dividend is payable July 1, 2020, to shareholders of record at the close of business on June 15, 2020.
Comerica Bank announces today that it has processed and submitted approximately 13,000 Paycheck Protection Program (PPP) loan applications, all of which have been approved by the U.S. Small Business Administration (SBA). Currently, the total loans expected to be funded stands at $4.1 billion, with 63 percent of loans being less than $100,000 and 56 percent of loans going to companies with fewer than 10 employees. Based on the applications received, this funding will impact approximately 250,000 employees. Comerica is continuing to take applications from existing customers as of Feb. 15, 2020. Visit comerica.com for additional information.
Rise in provisions and lower interest rates hurt Comerica's (CMA) Q1 earnings amid the coronavirus-led concerns.
Comerica Incorporated (NYSE: CMA) has reported its first quarter 2020 financial results. The results are available on the Investor Relations section of Comerica's website here. In addition, the financial results and earnings presentation will be furnished on a Form 8-K that will be available on the Securities and Exchange Commission website at www.sec.gov.
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Dividends “are broadly safe, but also selectively at risk,” Keefe, Bruyette & Woods analysts said, projecting that 10% of banks in its coverage universe are at risk for a cut.
Social distancing, energy and the Small Business Administration's Paycheck Protection Program were all key topics as Comerica reported first quarter earnings.
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Comerica Bank's Michigan Economic Activity Index increased in February to a level of 118.6. February's reading is 21 points, or 21 percent, above the index cyclical low of 97.9. The index averaged 117.7 points for all of 2019, 0.9 points below the index average for 2018. January's index reading was revised to 117.9.
Bank stocks have sunk due to coronavirus impacts. Should value investors be taking a look?
Shares of Comerica (NYSE:CMA) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share fell 122.12% over the past year to ($0.46), which does not compare to the estimate of $0.95.Revenue of $750,000,000 less by 11.14% from the same period last year, which missed the estimate of $759,310,000.Looking Ahead Comerica hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: Apr 21, 2020View more earnings on CMATime: 01:00 PM ETWebcast URL: https://edge.media-server.com/mmc/p/cgj7nhhwTechnicals Company's 52-week high was at $79.74Company's 52-week low was at $24.28Price action over last quarter: down 55.39%Company Description Comerica is a financial services company headquartered in Dallas. It has three major business segments: the business bank, the retail bank, and wealth management. Comerica is primarily focused on relationship-based commercial banking. 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 and Mexico.See more from Benzinga * Fifth Third Bancorp: Q1 Earnings Insights * Recap: Peoples Bancorp Q1 Earnings * Stepan: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Q1 2020 Comerica Inc Earnings Call