$CMA (Comerica Incorporated)

$CMA {{ '2016-10-18T16:19:39+0000' | timeago}} • Webcast

$CMA increased its share repurchases to approx. 2.1MM shares for a total of $97MM in 3Q16 compared to $65MM in 2Q16. The company maintained its securities book at about $12.5Bil. The estimated duration of the portfolio is about 3 years. Securities income declined $1MM due to continued yield pressure in 3Q16.

$CMA {{ '2017-09-14T18:35:41+0000' | timeago}} • Announcement

$CMA said in accordance with terms of the outstanding legacy Sterling Bancshares, Inc. warrants to purchase shares of $CMA common stock, par value $5.00 per share, the Sterling Warrants exercise price will be reduced to $7.170 per share. This dividend declaration did not result in a change in the Warrant Share Number of 0.24 per share.

$CMA {{ '2017-07-25T17:02:16+0000' | timeago}} • Announcement

$CMA's BoD declared a quarterly cash dividend for common stock of $0.30 per share, a 15% increase from the prior quarter, payable on Oct. 1, 2017 to shareholders of record on Sept. 15, 2017. The board also authorized an increase in number of common shares that $CMA is authorized to repurchase under its program by up to 5MM additional shares.

$CMA {{ '2017-07-18T21:15:30+0000' | timeago}} • Webcast

$CMA recently announced the 2017 capital plan, based on which the company is likely to increase its quarterly dividend of $0.30 per share. This plans also includes share repurchases of up to $605MM, an increase of 40% compared to 2016 plan.

$CMA {{ '2017-07-18T21:13:55+0000' | timeago}} • Webcast

During 2Q17, $CMA's average loans increased to $823MM. Seasonality helped drive increase in Mortgage Banker and National Dealer Services. The company reported 2% increase in the middle market average loans with growth in all the three markets, mainly California.

$CMA {{ '2017-07-18T11:52:34+0000' | timeago}} • Announcement

Financial services company $CMA reported 95% rise in its 2Q17 earnings, helped by higher net interest income and strong credit quality. Net income rose to $203MM, or $1.13 per share, compared to $104MM, or $0.58 per share during 2Q16. Net interest income rose 12% YoY to $500MM, mainly due to higher short-term rates and increased average loans.

$CMA {{ '2017-04-25T19:40:42+0000' | timeago}} • Webcast

$CMA's BoD lifted quarterly cash dividend for common stock by 13% to $0.26 per share. The dividend is payable on July 1, 2017 to shareholders of record on June 15, 2017.

$CMA {{ '2017-04-18T13:11:55+0000' | timeago}} • Webcast

Regarding the average balance growth all together, $CMA stated that the company feels more optimistic about the second quarter compared to the first quarter, given some of the businesses that are seasonal in nature. Additionally, looking at the pipeline, $CMA is anticipating growth in 2Q17.

$CMA {{ '2017-04-18T13:10:17+0000' | timeago}} • Announcement

$CMA had total deposits of $57.77MM in 1Q17, down 2% from the year-over quarter. Total loans decreased 1% to $47.9MM,  primarily reflecting increases in Commercial Real Estate and National Dealer Services.

$CMA {{ '2017-04-18T13:03:09+0000' | timeago}} • Announcement

$CMA's Business Bank segment contributed the lion's share to its earnings jump in 1Q17. Net income from the segment almost doubled to $177MM. Income from Retail Bank was flat at $11MM, while that from Wealth Management segment was up 9.5% to $23MM.

$CMA {{ '2017-04-18T12:56:01+0000' | timeago}} • Announcement

$CMA expects 1-2% growth in average loans in FY17. It also sees higher net interest income, reflecting the benefits from the rate hikes in December 2016 and March 2017, loan growth and debt maturities. $CMA estimates 4-6% rise in non interest income, with the execution of GEAR Up opportunities of $30MM, growth in treasury management and card fees.

$CMA {{ '2017-04-18T12:52:30+0000' | timeago}} • Webcast

$CMA said that on the appetite of deposit to loan growth, the company expects loan growth to be stronger than deposit growth. The company added that it is sitting on a considerable amount of excess liquidity and as the economy continues to grow, the amount of excess liquidity would be deployed into the businesses.

$CMA {{ '2017-04-18T12:45:47+0000' | timeago}} • Announcement

Financial services company $CMA reported a net income of $202MM in 1Q17, which more-than-tripled from last year's results. The results were helped by better credit quality in its Energy portfolio and benefits from higher interest rates. EPS grew to $1.11 from $0.34. Net interest income was up 5% to $470MM, due to increased short-term rates.

$CMA {{ '2017-01-24T19:41:41+0000' | timeago}} • Announcement

$CMA's BoD declared a quarterly cash dividend for common stock of $0.23 per share, payable April 1, 2017, to common stock shareholders of record March 15, 2017.

$CMA {{ '2017-01-17T14:16:07+0000' | timeago}} • Webcast

$CMA saw a headwind on the energy side in 2016 with a significant decline in balances and commitments. Moving into 2017, $CMA expects this to slow down and it is seeing some new opportunities with existing customers. This portfolio was down below 5% at 2016-end and $CMA believes it will level off and become less of a headwind in 2017.

$CMA {{ '2017-01-17T13:59:49+0000' | timeago}} • Webcast

$CMA looks at all alternatives as it moves forward and it is focused on what it controls. Texas and California are two of the largest markets in the country, and adding Michigan which has been very robust, especially with the auto industry coming back and a great market for $CMA, the company is well-positioned for growth moving forward.

$CMA {{ '2017-01-17T13:35:39+0000' | timeago}} • Webcast

$CMA estimates that the GEAR Up initiative will drive additional pretax income of $270MM in 2018 relative to its launch.  In 2017, the company expects to drive expense savings of $150MM including the $25MM in savings realized in 2016 as well as an incremental non-interest income of $30MM.

$CMA {{ '2017-01-17T13:27:37+0000' | timeago}} • Webcast

In 4Q16, $CMA increased its share buyback. Through the buyback and dividend, the company returned $139MM to shareholders or 85% of 4Q16 net income. As a result of warrants and employee options exercised during 4Q16, $CMA issued 5.1MM shares. Average diluted share count increased by 1MM shares to 177MM.

$CMA {{ '2017-01-17T13:15:14+0000' | timeago}} • Webcast

During 4Q16, $CMA’s credit quality was solid. The provision and net charge-offs increased from the very low levels of 3Q16. Net charge-offs were $36MM or 29BP, which is at the low end of the company’s historical norm and included $15MM in energy and $14MM in energy-related chargeoffs.

$CMA {{ '2017-01-17T12:33:42+0000' | timeago}} • Announcement

For FY17, $CMA expects average loans and net interest income to be higher vs. FY16. Provision for credit losses are expected to be lower. This outlook assumes current economic and low rate environment will continue and contributions from the Growth in Efficiency and Revenue (GEAR) Up initiative to be $30MM in revenue and $125MM in cost savings.

$CMA {{ '2017-01-17T12:28:04+0000' | timeago}} • Announcement

$CMA's average total loans decreased $291MM to $48.9Bil in 4Q16, reflecting decreases in Mortgage Banker Finance, Energy, general Middle Market and Environmental Services businesses. Average total deposits grew 3% to $59.6Bil, aided by the increase in deposits in almost all lines of business and all markets.

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