Comerica Stock Price, News & Analysis

Comerica Bank's Michigan Economic Activity Index rose to 105.9 in April, marking a 23.4% increase from its June 2020 low. This is the fifth consecutive month of growth, with six out of nine components showing improvement, including nonfarm payrolls and industrial electricity demand. Despite challenges like a global chip shortage affecting vehicle production, manufacturing employment in Michigan increased by 4,600 jobs in May. The auto inventory hit a record low of 254,800 units in April. Comerica reported total assets of $86.3 billion as of March 31, 2021.

Comerica Bank, in partnership with PF Bresee Foundation, is launching the Women in Charge Financial Empowerment Camp starting June 14, aimed at improving financial literacy among mothers and daughters. The six-week program will cover budgeting, credit management, and debt reduction, utilizing Comerica's Money $ense curriculum. Participants who improve their credit score by 10 points and save $100 will receive a $100 reward. This initiative is part of Comerica's broader $27 million pandemic relief contributions, focusing on supporting women and families.

Comerica Bank's California Economic Activity Index surged to 108.0 in March, marking a 17% rise above the historical low of 92.7 from June 2020. This increase represents the ninth consecutive monthly gain with seven of nine components showing positive growth. The state added 310,300 jobs in the first four months of 2021, despite a job loss in January. Factors such as improved hotel occupancy and rising household incomes are boosting consumer spending. However, supply chain disruptions and rising prices pose challenges for the economy in 2021.

Comerica Bank's Texas Economic Activity Index rose to 115.3 in March 2021, marking a 16% increase from the recent low of 99.3 in June 2020. This recovery is attributed to eight positive sub-indexes, including nonfarm employment and housing starts. In contrast, industrial electricity demand decreased. With oil prices nearing $68 per barrel and an improved drilling rig count, Comerica expects Texas to drive U.S. economic growth this year. Total assets reported at $86.3 billion as of March 31, 2021.

Comerica Bank's Michigan Economic Activity Index rose to 104.9 in March, a 23% increase from its historical low in June 2020. This marks the fourth consecutive monthly increase, with six of nine components showing positive results, notably in nonfarm payrolls and housing starts. However, challenges remain due to supply chain constraints in the auto sector affecting light vehicle production and trade. With COVID restrictions easing, a boost in services and construction is anticipated. Comerica reported total assets of $86.3 billion as of March 31, 2021.

Comerica Incorporated (NYSE: CMA) will participate in the Morgan Stanley US Financials Conference on June 14, 2021, at 7:45 a.m. CT. The company also announced its second quarter 2021 earnings call for July 21, 2021, at 7:00 a.m. CT. This call will cover financial results and provide insights to investors, with live webcast access available on their Investor Relations page. The details will be furnished in Form 8-K filings on the SEC website.

Comerica Bank and the National College Resources Foundation (NCRF) are hosting the Detroit Empowerment Weekend from May 20-22, 2021, a free virtual event aimed at assisting high school students with college applications. Participants can waive application fees and receive on-the-spot college acceptances and scholarships. The program includes informative seminars, a STEAM Expo, and dedicated college expos focusing on Latino and Black students. This initiative reinforces Comerica's commitment to community support amid challenges posed by the COVID-19 pandemic.

Comerica Bank announced the appointment of Sonya Trac as National Asian American Business Development Manager, aiming to strengthen relationships with Asian American businesses across key states. In addition, the bank is depositing $2.5 million into Royal Business Bank to enhance access to capital for the Asian American community. This partnership builds on previous commitments, including $10 million deposited in other Minority Depository Institutions. Trac's leadership is expected to bolster community engagement, supporting local businesses through innovative solutions.