Comerica Stock Price, News & Analysis

Comerica Incorporated (NYSE: CMA) announced its fourth quarter 2021 financial results on January 19, 2022. Detailed results can be accessed via the Investor Relations section of their website. The company is set to host a conference call to discuss the financial results at 9 a.m. CT / 10 a.m. ET on the same day. Comerica operates through three segments: Commercial Bank, Retail Bank, and Wealth Management, with locations primarily in Texas, Arizona, California, Florida, and Michigan.

Delix Therapeutics announced the closure of over $30 million in convertible note financing, primarily led by existing investors, and a $10 million Strategic Credit Facility with Comerica Bank. This funding aims to enhance Delix's drug development programs, including psychoplastogens for mental health disorders. CEO Mark Rus emphasized the strong investor support and the potential of their non-hallucinogenic compounds. The firm previously secured $70 million in Series A funding in September 2021 to advance its lead candidates through clinical trials.

Comerica Incorporated (NYSE: CMA) has announced the establishment of a new Office of Corporate Responsibility, appointing Wendy Bridges as Executive Vice President and Director. This initiative aims to centralize efforts in environmental, social, and governance (ESG) initiatives, reflecting Comerica's commitment to community service and diversity. Bridges will enhance collaboration within the bank and oversee key areas such as Corporate Sustainability. Comerica has been recognized nationally for its ESG efforts, including being listed among Newsweek's Most Responsible Companies and Forbes' Best Employers for Women.

Comerica (NYSE: CMA) will participate in the Goldman Sachs 2021 US Financial Services Conference on Dec. 8, 2021. The conference will feature key executives, including CEO Curt Farmer and CFO James Herzog. Additionally, the company announced its fourth quarter 2021 earnings call scheduled for Jan. 19, 2022. Interested parties can access the live audio webcast and presentation materials through Comerica's Investor Relations page. The earnings presentation will also be available on the SEC's website.

Nancy Flores has been appointed to the Comerica Incorporated Board of Directors, effective January 1, 2022. Currently serving as Chief Information and Technology Officer at McKesson Corporation, Flores brings over 25 years of technology leadership experience. She will be a member of the board's Enterprise Risk Committee. Comerica emphasizes that Flores’ expertise in regulatory, technology, and financial risk will strengthen the company. As of September 30, 2021, Comerica reported total assets of $94.5 billion, underscoring its stability in the financial services sector.

The Board of Directors of Comerica Incorporated (NYSE: CMA) declared a quarterly cash dividend of $0.68 per share on common stock, payable on Jan. 1, 2022, to shareholders of record by Dec. 15, 2021. Additionally, a dividend of $1,406.25 per share on Series A Non-Cumulative Perpetual Preferred Stock will also be payable on the same date. As of Sept. 30, 2021, Comerica reported total assets of $94.5 billion. The company operates across various states and has a focus on strengthening relationships within its three business segments: Commercial Bank, Retail Bank, and Wealth Management.

Comerica Bank's California Economic Activity Index rose to 118.4 in August, 27.6% above the historical low of 92.8 from June 2020. This marks the fourteenth consecutive monthly gain, although the growth rate has slowed from a peak of 3.0% in May. Key components such as nonfarm employment and house prices improved, while factors like housing starts and hotel occupancy declined. The impact of COVID-19 and the end of enhanced unemployment benefits may affect future growth, with expectations for continued supply chain constraints into 2022.

Comerica Bank's Texas Economic Activity Index rose to 126.5 in August, a 0.3 percent increase over July, marking the sixth consecutive monthly gain. The index is 27.4 percent above the pandemic low of 99.3 in June 2020, reflecting recovery levels similar to pre-pandemic figures. Significant contributors included nonfarm payrolls and housing starts, while hotel occupancy and sales tax revenues declined. Texas has recovered 92 percent of jobs lost during the pandemic, with an unemployment rate of 5.6 percent, higher than the national average of 4.8 percent.