Comerica Stock Price, News & Analysis

Comerica Bank's Michigan Economic Activity Index rose to 109.7 in January 2021, marking a 26% increase from its low in June 2020. This index reflects ongoing economic recovery despite challenges from COVID-19. Four of the nine components, including housing starts and light vehicle production, were positive, while payroll employment and state sales tax revenue were among the negatives. The report anticipates mixed results for February and March due to potential declines in consumer spending and supply chain issues. However, a new $1.9 trillion fiscal stimulus may boost consumer confidence.

Comerica Bank has launched the Asian Senior Citizens Anti-Violence Initiative with a focus on combating racially motivated violence against Asian American and Pacific Islander seniors. The initiative will allocate $100,000 to support Asian American nonprofits in California, Texas, and Michigan. Key partners include APA Family Support Services and Koreatown Youth & Community Center, which will receive personal safety alarms and funding for programs addressing elder abuse. The surge in violence is highlighted by over 3,700 reported incidents from March 2020 to February 2021.

Comerica Bank has announced the expansion of its community development lending program aimed at enhancing affordable housing. The initiative focuses on increasing capital access for developers of Low-Income Housing Tax Credit (LIHTC) projects, addressing the growing affordable housing crisis. With over $1.4 billion invested since 1992, Comerica aims to build better communities by facilitating affordable multifamily housing. Nearly 71% of extremely low-income renter households are severely cost-burdened, highlighting the need for such initiatives.

Comerica Bank has appointed Summer Faussette as its National African American Business Development Manager, enhancing its commitment to African American business leaders and communities. Faussette, with over 17 years of experience, will continue her role in Arizona while overseeing partnerships with nonprofit organizations nationwide. Her leadership aims to strengthen Comerica's outreach efforts, evidenced by the bank's $10 million investment in Minority Depository Institutions and significant community engagement programs that have benefited over 36,000 individuals in financial education during 2020.

Comerica Incorporated (NYSE: CMA) announced participation in the 2021 RBC Capital Markets Financial Institutions Conference on March 9, 2021. The bank will review its first quarter 2021 financial results during a conference call on April 20, 2021. The live audio webcast and presentation will be accessible on the Investor Relations page of Comerica's website. A replay will be available for six months. Comerica is aligned by three segments: Commercial Bank, Retail Bank, and Wealth Management, with operations in multiple U.S. states and in Canada and Mexico.

Comerica Bank's California Economic Activity Index rose to 107.5 in December, marking a 19% increase from the historical low of 90.4 in June 2020. This is the sixth consecutive month of improvement. Positive influences included nonfarm employment, housing starts, and the Dow Jones Technology Index. However, hotel occupancy declined. Federal fiscal stimulus continues to support recovery amidst a sluggish labor market, with California's GDP recovering faster than employment. As of December 31, 2020, Comerica had total assets of $88 billion.

The Texas Economic Activity Index from Comerica Bank rose to 126.7 in December, marking an 18% increase from its June low of 107.4. This is the sixth consecutive month of improvement, with eight of nine sub-indexes, including nonfarm payroll and housing starts, showing gains. However, the Texas economy faced challenges from severe winter weather in February, leading to significant damages. Despite this, the state is expected to recover quickly, bolstered by sustainable payrolls and insurance coverage.

Comerica Bank's Michigan Economic Activity Index rose to 108.6 in December, a 25% increase from the low in June 2020. This marks the index's strongest monthly gain since September, with six out of nine sub-indexes showing positive trends, including housing starts and state sales tax revenues. However, challenges exist, including a bifurcation in data between manufacturing and services, and concerns over the impact of a global chip shortage on Michigan’s auto industry. In 2020, the index averaged 104.6, 13.2 points lower than in 2019.