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Comerica Incorporated
Type
Public company
Traded as NYSE: CMA
S&P 500 Index component
Industry Financial services
Founded 1849; 168 years ago (1849) as Detroit Savings Fund Institute
Founder Elon Farnsworth
Headquarters Comerica Bank Tower
Dallas, Texas
Number of locations
591 branches
Key people
Ralph W. Babb, Jr., Chairman & CEO
David E. Duprey, CFO
Services Commercial banking
Retail banking
Wealth management
Revenue Increase $1.797 billion (2016)
Net income
Decrease $0.477 billion (2016)
Total assets Increase $71.743 billion (2016)
Total equity Decrease $7.674 billion (2016)
Number of employees
7,659 (2016)
Website www.comerica.com

Comerica Incorporated is a financial services company headquartered in Dallas, Texas. It has retail banking operations in Texas, Michigan, Arizona, California and Florida, with select business operations in several other U.S. states, as well as in Canada and Mexico.

Comerica is the largest U.S. commercial bank headquartered in Texas and is on the list of largest banks in the United States.

The company's largest offices are in Detroit, Livonia, Auburn Hills, Michigan and Dallas.

The banks sponsors Comerica Park in Detroit and sponsored the Comerica Bank New Year's Parade in Dallas between 2007 and 2010.

In 1949, the company was founded in Detroit by Elon Farnsworth as the Detroit Savings Fund Institute.

Its name changed to The Detroit Savings Bank in 1871 and to The Detroit Bank in 1936, being one of the few area banks to survive the Great Depression. In 1956, the company merged with Birmingham National Bank, Ferndale National Bank and Detroit Wabeek Bank and Trust Company to form The Detroit Bank & Trust Company. In 1973, it formed a holding company, DetroitBank Corporation. The current name was adopted in 1982.

In 1982, Comerica entered the Florida market. In 1983, it acquired its hometown rival, Bank of the Commonwealth of Michigan. It entered the Texas market in 1988 when it acquired Grand Bancshares.

In 1990, Comerica received approval to construct a new headquarters building, One Detroit Center.

In 1991, the bank expanded to California by acquiring Plaza Commerce Bancorp and InBancshares.

In 1992, the bank merged with a similarly-sized Detroit-based bank, Manufacturers National Corporation.

In 1996, the bank sold its Illinois operation to LaSalle Bank parent ABN Amro for $190 million.

In 1998, the bank signed a 30-year $66 million agreement for the naming rights to Comerica Park in downtown Detroit, home to the Detroit Tigers of Major League Baseball.

In 2000, the bank sold its credit card division to MBNA and formed an alliance with the company.

In 2001, the bank acquired Imperial Bank of California, which also had branches in Arizona.

On March 6, 2007, the company announced its decision to relocate its corporate headquarters to Dallas to move closer to its customer base in the Sun Belt. In August, the company announced that it selected 1717 Main Street in Downtown Dallas. The company executives began moving into 1717 Main Street in November 2007 and the building was renamed Comerica Tower.

In January 2008, the company was selected by the United States Department of the Treasury as the issuing bank for its Direct Express debit-card program. The federal government uses the Express Debit product to issue electronic payments, such as Social Security benefits, to people who do not have bank accounts (unbanked).

In July 2011, the bank acquired Sterling Bank (Texas) for $1.03 billion.

In 2017, the bank announced plans to reduce its office space by 500,000 square feet, saving $7 million in 2018.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-01-19 Future report Set alerts
Q3 2020 2020-10-14 Future report Set alerts
Q2 2020 2020-07-21 0.80 0.80
Q1 2020 2020-04-21 -0.46 -0.46
Q4 2019 2020-01-21 1.85 1.85
Q3 2019 2019-10-16 1.96 1.96
Q2 2019 2019-07-17 1.94 1.94
Q1 2019 2019-04-16 2.11 2.11
Q4 2018 2019-01-16 1.88 1.88
Q3 2018 2018-10-16 1.86 1.86

Ratings

2016-07-12 Reiterated Rating Credit Suisse Group AG Hold $37.00
2016-07-09 Reiterated Rating Nomura Holdings Inc. Hold
2016-07-09 Reiterated Rating Barclays PLC Sell
2016-07-08 Upgrade Wells Fargo & Co. Underperform to Market Perform
2016-07-07 Lower Price Target JPMorgan Chase & Co. Neutral $47.00 to $43.00
2016-07-06 Reiterated Rating BMO Capital Markets Market Perform $45.00 to $41.00
2016-06-29 Downgrade Bank of America Neutral to Underperform $30.48 to $36.00
2016-06-29 Downgrade Bank of America Corp. Neutral to Underperform $30.48 to $36.00
2016-06-04 Reiterated Rating Deutsche Bank Hold
2016-06-04 Reiterated Rating Deutsche Bank AG Hold
2016-06-03 Reiterated Rating Raymond James Outperform
2016-06-03 Reiterated Rating Raymond James Financial Inc. Outperform
2016-05-26 Upgrade Goldman Sachs Sell to Neutral $49.00
2016-05-26 Upgrade Goldman Sachs Group Inc. Sell to Neutral $49.00
2016-05-19 Upgrade Goldman Sachs Sell to Neutral $42.00 to $49.00
2016-05-18 Reiterated Rating Deutsche Bank Hold $43.00
2016-05-13 Downgrade Wells Fargo Market Perform to Underperform
2016-05-13 Downgrade Wells Fargo & Co. Market Perform to Underperform
2016-05-09 Upgrade Raymond James Market Perform to Outperform
2016-05-02 Reiterated Rating Credit Suisse Hold $37.00
2016-05-02 Reiterated Rating Credit Suisse Group AG Hold $37.00
2016-04-27 Reiterated Rating Robert W. Baird Buy
2016-04-25 Reiterated Rating FBR & Co. Buy $48.00
2016-04-25 Reiterated Rating FBR & Co Buy $48.00
2016-04-21 Upgrade Bank of America Underperform to Neutral $45.00
2016-04-20 Downgrade Stephens Overweight to Equal Weight
2016-04-20 Boost Price Target RBC Capital Outperform $44.00 to $46.00
2016-04-20 Boost Price Target Keefe, Bruyette & Woods Market Perform $41.00 to $42.00
2016-04-20 Boost Price Target JPMorgan Chase & Co. Neutral $40.00 to $42.50
2016-04-20 Boost Price Target Barclays Underweight $40.00 to $42.00
2016-04-20 Reiterated Rating Robert W. Baird Buy
2016-04-20 Boost Price Target Royal Bank Of Canada Outperform $44.00 to $46.00
2016-04-20 Boost Price Target Barclays PLC Underweight $40.00 to $42.00
2016-04-06 Reiterated Rating JPMorgan Chase & Co. Hold
2016-03-31 Reiterated Rating BMO Capital Markets Hold
2016-03-14 Upgrade Credit Agricole Underperform to Outperform
2016-03-14 Upgrade Credit Agricole SA Underperform to Outperform
2016-03-12 Reiterated Rating Deutsche Bank Hold
2016-03-02 Lower Price Target Compass Point Neutral $43.00 to $40.00
2016-03-01 Lower Price Target Macquarie Neutral $39.00 to $38.00
2016-02-29 Lower Price Target Goldman Sachs Sell $41.00 to $38.00
2016-02-29 Lower Price Target Barclays Underweight $43.00 to $40.00
2016-02-29 Lower Price Target Credit Suisse Neutral $42.00 to $37.00
2016-02-24 Lower Price Target Deutsche Bank Hold $44.00 to $42.00
2016-02-22 Reiterated Rating FBR & Co. Outperform $48.00
2016-02-17 Lower Price Target Evercore ISI Hold $39.00 to $37.00
2016-02-11 Lower Price Target Nomura Neutral $41.00 to $34.00
2016-02-11 Lower Price Target Nomura Holdings Inc. Neutral $41.00 to $34.00
2016-01-28 Upgrade BMO Capital Markets Underperform to Market Perform $43.00 to $38.00
2016-01-20 Lower Price Target Keefe, Bruyette & Woods Market Perform $47.00 to $41.00
2016-01-20 Lower Price Target Barclays Underweight $45.00 to $43.00
2016-01-20 Lower Price Target RBC Capital Outperform $52.00 to $48.00
2016-01-20 Upgrade FBR & Co. Market Perform to Outperform $48.00
2016-01-20 Reiterated Rating Stephens Buy
2016-01-14 Lower Price Target Sterne Agee CRT $44.00 to $41.00
2016-01-13 Lower Price Target Deutsche Bank $47.00 to $45.00
2016-01-12 Downgrade Bank of America Buy to Underperform $54.00 to $39.00
2016-01-07 Upgrade Robert W. Baird Neutral to Outperform $46.00
2015-12-29 Reiterated Rating Piper Jaffray Hold
2015-12-29 Reiterated Rating Piper Jaffray Cos. Hold
2015-12-28 Reiterated Rating Deutsche Bank Hold
2015-12-28 Boost Price Target Piper Jaffray Neutral $43.00 to $45.00
2015-12-17 Downgrade Goldman Sachs Neutral to Sell $47.00 to $44.00
2015-12-08 Reiterated Rating Piper Jaffray Hold $46.00 to $43.00
2015-11-17 Boost Price Target Susquehanna Neutral $49.00 to $50.00
2015-10-19 Lower Price Target BMO Capital Markets Underperform $44.00 to $42.00
2015-10-19 Lower Price Target Sterne Agee CRT Neutral $45.00
2015-10-19 Lower Price Target FBR & Co. Market Perform $50.00 to $48.00
2015-10-19 Boost Price Target Sanford C. Bernstein Market-Perform $45.00 to $49.00
2015-10-09 Reiterated Rating Barclays Underweight $48.00 to $45.00
2015-10-08 Lower Price Target Sterne Agee CRT $47.00 to $46.00
2015-10-06 Downgrade JPMorgan Chase & Co. Overweight to Neutral $57.00 to $45.00
2015-10-06 Lower Price Target Jefferies Group Hold $52.00 to $46.00
2015-10-02 Lower Price Target Nomura Neutral $42.00 to $35.00
2015-09-23 Lower Price Target Credit Suisse Neutral $58.00 to $50.00
2015-09-11 Lower Price Target Evercore ISI $48.00 to $45.00
2015-09-10 Lower Price Target Sterne Agee CRT $51.00 to $47.00
2015-09-08 Initiated Coverage BMO Capital Markets Underperform $44.00
2015-08-26 Lower Price Target Sanford C. Bernstein Market Perform $47.00 to $45.00
2015-08-26 Lower Price Target SunTrust Neutral $57.00 to $45.00
2015-08-26 Lower Price Target SunTrust Banks Inc. Neutral $57.00 to $45.00
2015-08-24 Upgrade Robert W. Baird Underperform to Neutral $43.14 to $44.00
2015-08-19 Initiated Coverage Sterne Agee CRT Neutral $51.00
2015-08-10 Lower Price Target Susquehanna Neutral $53.00 to $49.00
2015-07-21 Reiterated Rating Barclays Sell
2015-07-21 Reiterated Rating Keefe, Bruyette & Woods Hold
2015-07-21 Reiterated Rating RBC Capital Buy
2015-07-21 Reiterated Rating Piper Jaffray Neutral $55.00 to $52.00
2015-07-20 Reiterated Rating Jefferies Group Hold $52.00
2015-07-20 Lower Price Target RBC Capital Outperform $56.00 to $54.00
2015-07-20 Lower Price Target Keefe, Bruyette & Woods Market Perform $53.00 to $52.00
2015-07-20 Lower Price Target Sanford C. Bernstein Market Perform $48.00 to $47.00
2015-07-20 Lower Price Target Barclays Underweight $50.00 to $48.00
2015-07-20 Lower Price Target Compass Point Neutral $48.00 to $43.00
2015-07-02 Boost Price Target Jefferies Group $46.00 to $54.00
2015-06-29 Reiterated Rating Citigroup Inc. Neutral $48.00 to $52.00
2015-06-26 Boost Price Target Credit Suisse $48.00 to $58.00
2015-06-26 Boost Price Target Wunderlich Buy $55.00 to $60.00
2015-06-24 Upgrade Bank of America Neutral to Buy $60.00
2015-06-18 Initiated Coverage Stephens Overweight $54.00
2015-06-12 Initiated Coverage Piper Jaffray Neutral $55.00
2015-06-09 Boost Price Target RBC Capital Outperform $50.00 to $56.00
2015-05-28 Reiterated Rating Bank of America Neutral
2015-05-20 Downgrade Robert W. Baird Neutral to Underperform $40.00 to $44.00
2015-05-11 Boost Price Target Susquehanna Neutral $47.00 to $53.00
2015-04-20 Boost Price Target RBC Capital Outperform $48.00 to $50.00
2015-04-20 Lower Price Target JPMorgan Chase & Co. Overweight $54.00 to $52.00
2015-04-20 Set Price Target Compass Point Hold $47.00 to $48.00
2015-04-20 Boost Price Target FBR & Co. Market Perform $46.00 to $48.00
2015-04-17 Lower Price Target Wunderlich Buy $65.00 to $55.00
2015-04-06 Downgrade Guggenheim Buy to Neutral
2015-02-06 Initiated Coverage Credit Suisse Neutral $48.00
2015-01-20 Reiterated Rating Jefferies Group Hold $47.00 to $46.00
2015-01-20 Set Price Target Keefe, Bruyette & Woods Market Perform $50.00 to $47.00
2015-01-20 Set Price Target FBR & Co. Hold $50.00 to $46.00
2015-01-16 Reiterated Rating DA Davidson Neutral $48.00 to $44.00
2015-01-13 Upgrade Robert W. Baird Underperform to Neutral $40.00
2015-01-12 Set Price Target Wunderlich Buy $65.00
2014-12-30 Lower Price Target Compass Point Neutral $49.00 to $47.00
2014-10-20 Lower Price Target DA Davidson Neutral $55.00 to $48.00
2014-10-20 Reiterated Rating Citigroup Inc. Neutral $55.00 to $48.00
2014-10-20 Downgrade Rafferty Capital Markets Buy to Hold
2014-10-20 Upgrade Sandler O'Neill Hold to Buy $52.00 to $49.00
2014-10-20 Upgrade Sanford C. Bernstein Underperform to Market Perform $44.00 to $47.00
2014-10-20 Upgrade Nomura Reduce to Neutral $42.00 to $41.00
2014-10-20 Lower Price Target RBC Capital Outperform $55.00 to $51.00
2014-10-07 Reiterated Rating Citigroup Inc. Neutral $53.00 to $55.00
2014-09-25 Upgrade Wunderlich Hold to Buy $55.00 to $65.00
2014-08-05 Upgrade Susquehanna Negative to Neutral $39.00 to $49.00
2014-07-16 Reiterated Rating JPMorgan Chase & Co. Overweight $56.00 to $61.00
2014-07-16 Boost Price Target Sanford C. Bernstein $40.00 to $44.00
2014-07-16 Boost Price Target DA Davidson Neutral $50.00 to $55.00
2014-07-16 Upgrade Macquarie Underperform to Neutral $45.00 to $50.00
2014-07-16 Boost Price Target Keefe, Bruyette & Woods $45.00 to $50.00
2014-07-16 Boost Price Target Barclays Underweight $47.00 to $50.00
2014-07-16 Boost Price Target RBC Capital Outperform $54.00 to $55.00
2014-07-15 Boost Price Target FBR & Co. Market Perform $48.00 to $54.00
2014-07-15 Upgrade Rafferty Capital Markets Hold to Buy $50.50 to $59.00
2014-07-10 Upgrade Guggenheim Neutral to Buy $54.00 to $58.00
2014-07-03 Downgrade Citigroup Inc. Buy to Neutral $53.00
2014-06-09 Boost Price Target BMO Capital Markets $48.00 to $49.00
2014-05-30 Initiated Coverage Sterne Agee CRT Buy
2014-05-14 Initiated Coverage Nomura Reduce $40.00
2014-05-14 Initiated Coverage Northland Securities Reduce $40.00
2014-04-30 Reiterated Rating Deutsche Bank Hold $45.00 to $48.00
2014-04-16 Reiterated Rating JPMorgan Chase & Co. Overweight $56.00
2014-04-16 Lower Price Target Jefferies Group Hold $49.00 to $48.00
2014-04-07 Boost Price Target JPMorgan Chase & Co. Overweight $56.00 to $59.00
2014-04-07 Boost Price Target Macquarie $42.00 to $45.00
2014-04-02 Upgrade Wells Fargo & Co. Underperform to Market Perform €37.00 to €40.00
2014-04-02 Upgrade Wells Fargo Underperform to Market Perform €37.00 to €40.00
2014-03-27 Reiterated RBC Capital Mkts Outperform $50 to $54
2014-03-27 Boost Price Target Morgan Stanley $47.00 to $55.00
2014-02-14 Upgrade Citigroup Inc. Neutral to Buy
2014-01-21 Reiterated RBC Capital Mkts Outperform $45 to $50
2014-01-21 Boost Price Target Compass Point Neutral $44.00 to $49.00
2014-01-21 Upgrade Keefe, Bruyette & Woods Market Perform
2014-01-21 Boost Price Target RBC Capital Outperform $45.00 to $50.00
2014-01-17 Boost Price Target Wunderlich Hold $45.00 to $48.00
2014-01-14 Boost Price Target Guggenheim $44.00 to $50.00
2014-01-14 Initiated Coverage Janney Montgomery Scott Neutral
2014-01-08 Boost Price Target Deutsche Bank Hold $40.00 to $44.00
2014-01-08 Upgrade Oppenheimer Underperform to Market Perform
2014-01-06 Boost Price Target Barclays Underweight $42.00 to $47.00
2013-12-19 Downgrade Macquarie Neutral to Underperform $41.00
2013-11-15 Boost Price Target Guggenheim Neutral €40.00 to €44.00
2013-11-12 Upgrade Raymond James Underperform to Market Perform
2013-10-17 Downgrade Rafferty Capital Markets Buy to Hold $41.00 to $40.50
2013-10-08 Initiated Coverage Evercore ISI Buy
2013-09-17 Upgrade Goldman Sachs Sell to Neutral €38.00 to €42.00
2013-07-16 Reiterated Wunderlich Hold $40 to $45
2013-05-29 Downgrade Wunderlich Buy to Hold $40
2013-05-22 Downgrade Oppenheimer Perform to Underperform $22
2013-05-08 Downgrade Robert W. Baird Neutral to Underperform $33
2013-02-11 Downgrade Stifel Nicolaus Hold to Sell
2013-01-09 Downgrade Oppenheimer Outperform to Perform $38
2012-10-18 Upgrade Stifel Nicolaus Sell to Hold
2016-07-12 Reiterated Rating Credit Suisse Group AG Hold $37.00
2016-07-09 Reiterated Rating Nomura Holdings Inc. Hold
2016-07-09 Reiterated Rating Barclays PLC Sell
2016-07-08 Upgrade Wells Fargo & Co. Underperform to Market Perform
2016-07-07 Lower Price Target JPMorgan Chase & Co. Neutral $47.00 to $43.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
BABB RALPH W JR Chairman, President & CEO 0.36%  (642074) CMA / TXN /
PARKHILL KAREN L Vice Chairman and CFO 0.06%  (100762) CMA /
ANDERSON LARS C Vice Chairman 0.05%  (99012) CMA / FITB /
Duprey David E EVP and General Auditor 0.05%  (91730) CMA /
FARMER CURTIS C Vice Chairman 0.05%  (82931) CMA /
PIERGALLINI ALFRED A 0.04%  (74151) CENT / CMA /
BILSTROM JON W EVP & Secretary 0.04%  (72287) CMA /
MICHALAK MICHAEL H Executive Vice President 0.03%  (47513) CMA /
FULTON J MICHAEL Executive Vice President 0.02%  (42270) CMA /
CREGG ROGER A 0.02%  (40197) AVHI / CMA /
FAUBION J PATRICK Executive Vice President 0.02%  (39943) CMA /
TAUBMAN ROBERT S 0.02%  (38619) BID / CMA / TCO /
Ogden Thomas D Executive Vice President 0.02%  (34987) CMA /
Killian John M EVP - Chief Credit Officer 0.02%  (27604) CMA /
Love Judith S EVP 0.01%  (26845) CMA /
Burkhart Megan D EVP - Chief HR Officer 0.01%  (25282) CMA /
Turner Reginald M JR 0.01%  (25263) CMA / MAS /
Humrichouse Ximena G 0.01%  (22323) CMA / CNK / KSS /
DENICOLA T KEVIN 0.01%  (21099) AXLL / CMA /
Buchanan John D Executive Vice President 0.01%  (21096) CMA /
RITCHIE MICHAEL T Executive Vice President 0.01%  (18884) CMA /
Carr Muneera S EVP & Chief Accounting Officer 0.01%  (18430) CMA /
OBERMEYER PAUL R Executive Vice President 0.01%  (17002) CMA /
Guilfoile Peter William Executive Vice President 0.01%  (15090) CMA /
Moore Christine M EVP and General Auditor 0.01%  (13930) CMA /
Sefzik Peter L Executive Vice President 0.01%  (13202) CMA /

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