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Comerica

NYSE:CMA
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CMA
NYSE
$11B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The last earnings update was 7 days ago. More info.


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CMA Share Price and Events
7 Day Returns
3%
NYSE:CMA
0.3%
US Banks
-0.9%
US Market
1 Year Returns
-25.9%
NYSE:CMA
-7.8%
US Banks
3.8%
US Market
CMA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Comerica (CMA) 3% 2.5% -7.8% -25.9% 56.3% 40.1%
US Banks 0.3% 2.9% -0.7% -7.8% 45.9% 46.5%
US Market -0.9% 1.1% 1.1% 3.8% 35.5% 42.1%
1 Year Return vs Industry and Market
  • CMA underperformed the Banks industry which returned -7.8% over the past year.
  • CMA underperformed the Market in United States of America which returned 3.8% over the past year.
Price Volatility
CMA
Industry
5yr Volatility vs Market

Value

 Is Comerica undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Comerica to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Comerica.

NYSE:CMA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 20 analysts.
= Stable Book Value * Return on Equity
= $52.35 * 15.9%
$8.33
Book Value of Equity per Share Weighted future Book Value estimates from 17 analysts. $52.35
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CMA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.597 (1 + (1- 21%) (78.69%))
0.978
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.978 * 5.96%)
8.56%

Discounted Cash Flow Calculation for NYSE:CMA using Excess Returns Model Model

The calculations below outline how an intrinsic value for Comerica is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:CMA Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15.9% – 8.56%) * $52.35)
$3.85
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $3.85 / (8.56% - 2.73%)
$66.10
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $52.35 + $66.10
$118.45
NYSE:CMA Discount to Share Price
Calculation Result
Value per share (USD) From above. $118.45
Current discount Discount to share price of $71.25
= -1 x ($71.25 - $118.45) / $118.45
39.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Comerica is available for.
Intrinsic value
40%
Share price is $71.25 vs Future cash flow value of $118.45
Current Discount Checks
For Comerica to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Comerica's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Comerica's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Comerica's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Comerica's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CMA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $7.88
NYSE:CMA Share Price ** NYSE (2019-07-23) in USD $71.25
United States of America Banks Industry PE Ratio Median Figure of 595 Publicly-Listed Banks Companies 12.67x
United States of America Market PE Ratio Median Figure of 3,083 Publicly-Listed Companies 17.8x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Comerica.

NYSE:CMA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CMA Share Price ÷ EPS (both in USD)

= 71.25 ÷ 7.88

9.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Comerica is good value based on earnings compared to the US Banks industry average.
  • Comerica is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Comerica's expected growth come at a high price?
Raw Data
NYSE:CMA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts
-5.3%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.2x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

NYSE:CMA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.04x ÷ -5.3%

-1.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Comerica earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Comerica's assets?
Raw Data
NYSE:CMA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $48.89
NYSE:CMA Share Price * NYSE (2019-07-23) in USD $71.25
United States of America Banks Industry PB Ratio Median Figure of 595 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,249 Publicly-Listed Companies 1.78x
NYSE:CMA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CMA Share Price ÷ Book Value per Share (both in USD)

= 71.25 ÷ 48.89

1.46x

* Primary Listing of Comerica.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Comerica is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Comerica's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Comerica has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Comerica expected to perform in the next 1 to 3 years based on estimates from 22 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-5.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Comerica expected to grow at an attractive rate?
  • Comerica's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Comerica's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Comerica's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CMA Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CMA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 22 Analysts -5.3%
NYSE:CMA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 22 Analysts -0.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 1.6%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CMA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CMA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 3,387 1,114 6
2020-12-31 3,342 1,109 21
2019-12-31 3,391 1,204 22
NYSE:CMA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 3,347 1,258
2019-03-31 3,405 1,298 1,285
2018-12-31 3,329 1,616 1,227
2018-09-30 3,294 1,220 1,031
2018-06-30 3,258 1,067 939
2018-03-31 3,156 1,039 817
2017-12-31 3,100 1,085 738
2017-09-30 2,968 950 789
2017-06-30 2,877 908 713
2017-03-31 2,782 658 614
2016-12-31 2,600 486 473
2016-09-30 2,552 601 425

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Comerica's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Comerica's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CMA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 weeks ago) See Below
Future Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below

All data from Comerica Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CMA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 8.24 9.70 7.45 8.00
2020-12-31 7.90 8.77 7.10 26.00
2019-12-31 7.93 8.09 7.73 24.00
NYSE:CMA Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 7.88
2019-03-31 7.81
2018-12-31 7.30
2018-09-30 6.06
2018-06-30 5.46
2018-03-31 4.72
2017-12-31 4.24
2017-09-30 4.55
2017-06-30 4.12
2017-03-31 3.56
2016-12-31 2.75
2016-09-30 2.45

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Comerica is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Comerica's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Comerica has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Comerica performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Comerica's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Comerica has delivered over 20% year on year earnings growth in the past 5 years.
  • Comerica's 1-year earnings growth exceeds its 5-year average (34% vs 20.5%)
  • Comerica's earnings growth has not exceeded the US Banks industry average in the past year (34% vs 37.8%).
Earnings and Revenue History
Comerica's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Comerica Company Filings, last reported 3 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CMA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 3,347.00 1,258.00 1,622.00
2019-03-31 3,405.00 1,285.00 1,628.00
2018-12-31 3,329.00 1,227.00 1,619.00
2018-09-30 3,294.00 1,031.00 1,602.00
2018-06-30 3,258.00 939.00 1,615.00
2018-03-31 3,156.00 817.00 1,668.00
2017-12-31 3,100.00 738.00 1,680.00
2017-09-30 2,968.00 789.00 1,638.00
2017-06-30 2,877.00 713.00 1,638.00
2017-03-31 2,782.00 614.00 1,651.00
2016-12-31 2,600.00 473.00 1,675.00
2016-09-30 2,552.00 425.00 1,680.00
2016-06-30 2,502.00 411.00 1,670.00
2016-03-31 2,469.00 442.00 1,665.00
2015-12-31 2,577.00 515.00 1,662.00
2015-09-30 2,576.00 548.00 1,591.00
2015-06-30 2,544.00 566.00 1,548.00
2015-03-31 2,538.00 581.00 1,488.00
2014-12-31 2,485.00 586.00 1,427.00
2014-09-30 2,498.00 553.00 1,451.00
2014-06-30 2,506.00 546.00 1,452.00
2014-03-31 2,504.00 538.00 1,455.00
2013-12-31 2,508.00 533.00 1,459.00
2013-09-30 2,480.00 546.00 1,457.00
2013-06-30 2,450.00 517.00 1,454.00
2013-03-31 2,454.00 518.00 1,457.00
2012-12-31 2,519.00 515.00 1,470.00
2012-09-30 2,463.00 482.00 1,479.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Comerica has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Comerica used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Comerica improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Comerica's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Comerica has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Comerica's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Comerica's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Comerica Company Filings, last reported 3 weeks ago.

NYSE:CMA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 7,323.00 8,291.00 3,581.00
2019-03-31 7,409.00 7,849.00 3,621.00
2018-12-31 7,507.00 6,730.00 4,018.00
2018-09-30 7,786.00 6,651.00 6,058.00
2018-06-30 8,079.00 5,789.00 5,857.00
2018-03-31 8,000.00 5,767.00 6,959.00
2017-12-31 7,963.00 4,734.00 5,415.00
2017-09-30 8,034.00 5,240.00 6,324.00
2017-06-30 7,985.00 5,809.00 5,745.00
2017-03-31 7,930.00 5,293.00 8,421.00
2016-12-31 7,796.00 5,310.00 6,977.00
2016-09-30 7,727.00 6,302.00 8,467.00
2016-06-30 7,694.00 6,288.00 4,626.00
2016-03-31 7,644.00 4,107.00 3,484.00
2015-12-31 7,560.00 3,561.00 6,077.00
2015-09-30 7,622.00 3,721.00 7,680.00
2015-06-30 7,523.00 3,248.00 6,317.00
2015-03-31 7,500.00 3,313.00 6,463.00
2014-12-31 7,402.00 3,319.00 6,140.00
2014-09-30 7,433.00 2,961.00 8,083.00
2014-06-30 7,369.00 2,891.00 4,422.00
2014-03-31 7,283.00 3,749.00 6,108.00
2013-12-31 7,150.00 3,850.00 6,383.00
2013-09-30 6,969.00 3,842.00 7,752.00
2013-06-30 6,911.00 3,825.00 4,628.00
2013-03-31 6,988.00 4,863.00 6,380.00
2012-12-31 6,942.00 4,960.00 5,044.00
2012-09-30 7,084.00 5,259.00 4,853.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Comerica has an acceptable proportion of non-loan assets held.
  • Comerica's liabilities are made up of primarily low risk sources of funding.
  • Loans at Comerica are broadly funded by customer deposits.
  • Comerica's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Comerica has a sufficient allowance for bad loans.
  • Comerica has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Comerica's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Comerica has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Comerica's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.76%
Current annual income from Comerica dividends. Estimated to be 4.02% next year.
If you bought $2,000 of Comerica shares you are expected to receive $75 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Comerica's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Comerica's dividend is below the markets top 25% of dividend payers in United States of America (3.77%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CMA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 22 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 480 Stocks 3.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CMA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 3.11 7.00
2020-12-31 2.91 23.00
2019-12-31 2.75 23.00
NYSE:CMA Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-23 2.680 3.690
2019-01-22 2.680 3.322
2018-11-06 2.400 3.209
2018-07-24 2.400 2.612
2018-04-24 1.360 1.433
2018-01-23 1.200 1.246
2017-11-07 1.200 1.416
2017-07-25 1.200 1.642
2017-07-18 1.200 1.645
2017-04-25 1.040 1.454
2017-01-24 0.920 1.323
2016-11-08 0.920 1.409
2016-07-26 0.920 1.935
2016-04-26 0.880 2.026
2016-01-26 0.840 2.293
2015-11-10 0.840 2.027
2015-07-28 0.840 1.926
2015-04-28 0.840 1.694
2015-04-17 0.840 1.831
2015-01-27 0.800 1.762
2014-11-11 0.800 1.761
2014-07-22 0.800 1.639
2014-04-22 0.800 1.636
2014-01-21 0.760 1.565
2013-11-12 0.680 1.471
2013-07-23 0.680 1.634
2013-04-23 0.680 1.745
2013-01-22 0.680 1.945
2012-11-13 0.600 1.990
2012-07-24 0.600 1.956
2012-04-24 0.600 1.974
2012-01-24 0.400 1.306
2011-11-15 0.400 1.530
2011-07-26 0.400 1.599
2011-04-26 0.400 1.144
2011-01-25 0.400 1.051
2010-11-16 0.400 1.001
2010-07-27 0.200 0.542
2010-04-27 0.200 0.515
2010-01-26 0.200 0.534
2009-11-17 0.200 0.666
2009-07-28 0.200 0.718
2009-05-19 0.200 0.935
2009-01-27 0.200 1.114
2008-09-18 1.320 5.979

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Comerica's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Comerica's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Comerica afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Comerica has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Comerica's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Curt Farmer
COMPENSATION $3,987,706
AGE 56
TENURE AS CEO 0.3 years
CEO Bio

Mr. Curtis Chatman Farmer, also known as Curt, has been Chief Executive Officer of Comerica Incorporated and Comerica Bank since April 23, 2019 and has been its the President since April 29, 2015. Mr. Farmer has been a Director of Comerica Incorporated since July 24, 2018. He is a Director at Comerica Bank. He served as Vice Chairman of Comerica Incorporated and Comerica Bank since April 2011 until April 2015. He led the business segment which serves the needs of affluent clients and institutions and includes Private Banking, Comerica Asset Management, Comerica Securities, Comerica Insurance, Private Fiduciary Services, Institutional Trust and Retirement Services, Wilson Kemp and World Asset Management. He served as an Executive Vice President of Wealth & Institutional Management for Comerica Incorporated and Comerica Bank from October 2008 to May 2, 2011. He served at Wachovia Wealth Management as Wealth Management Director for Pennsylvania and Delaware. He joined Comerica on October 20, 2008 from Wachovia Corporation of Charlotte, N.C, where he served three years as Executive Vice President and Wealth Management Director of the Wealth Management Segment. He led the organization's Southeast Region, which includes the Carolinas, Virginia, Georgia and Texas. During his 23 years with Wachovia, Mr. Farmer served a variety of positions of increasing scope and responsibility, including Senior Vice President and Managing Executive/National Sales Manager for Wachovia Trust Company and Wealth Management in Charlotte; Senior Vice President and Wealth Management Director in Philadelphia, Pa.; and Senior Vice President and Managing Executive of Marketing and Strategic Planning in Charlotte. He served as Vice Chairman of The Retail Bank and Wealth Management at Comerica Incorporated and Comerica Bank. He serves as a Director of Baylor Health Care System Foundation. He serves as a Director of The Philadelphia Orchestra Association. He serves as a Director of World Asset Management and as a Trustee of Wake Forest University. He holds a Bachelors Degree from Wake Forest University, where Mr. Farmer also earned his Masters in Business Administration.

CEO Compensation
  • Curt's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Curt's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Comerica management team in years:

3.2
Average Tenure
55.5
Average Age
  • The tenure for the Comerica management team is about average.
Management Team

Ralph Babb

TITLE
Executive Chairman
COMPENSATION
$10M
AGE
70

Curt Farmer

TITLE
CEO, President & Director
COMPENSATION
$4M
AGE
56
TENURE
0.3 yrs

Muneera Carr

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
50
TENURE
1.5 yrs

John Buchanan

TITLE
Executive VP of Legal & Regulatory Affairs and Corporate Secretary
COMPENSATION
$2M
AGE
55
TENURE
3.5 yrs

Edward Gwilt

TITLE
SVP of Asset Quality Review

Paul Obermeyer

TITLE
Executive Vice President of Enterprise Technology
AGE
61
TENURE
2.9 yrs

Darlene Persons

TITLE
Senior VP & Director of Investor Relations
TENURE
13 yrs

James Weber

TITLE
Executive VP and Chief Marketing & Communications Officer
TENURE
0.2 yrs

Megan Burkhart

TITLE
Executive VP & Chief HR Officer
AGE
47
TENURE
9.5 yrs

Michele Jones

TITLE
Senior Vice President and Alternate Group Manager - Energy Finance Group
TENURE
14.7 yrs
Board of Directors Tenure

Average tenure and age of the Comerica board of directors in years:

12.6
Average Tenure
63.5
Average Age
  • The average tenure for the Comerica board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Curt Farmer

TITLE
CEO, President & Director
COMPENSATION
$4M
AGE
56
TENURE
1 yrs

Reginald Turner

TITLE
Director
COMPENSATION
$226K
AGE
59
TENURE
14.5 yrs

Ralph Babb

TITLE
Executive Chairman
COMPENSATION
$10M
AGE
70
TENURE
16.8 yrs

T. DeNicola

TITLE
Director
COMPENSATION
$245K
AGE
64
TENURE
12.6 yrs

Rick Lindner

TITLE
Lead Director
COMPENSATION
$236K
AGE
64

Bobby Taubman

TITLE
Director
COMPENSATION
$182K
AGE
65
TENURE
19 yrs

Roger Cregg

TITLE
Director
COMPENSATION
$200K
AGE
63
TENURE
12.6 yrs

Jackie Kane

TITLE
Director
COMPENSATION
$180K
AGE
67
TENURE
10.8 yrs

Ximena Humrichouse Vaca

TITLE
Director
COMPENSATION
$200K
AGE
48
TENURE
10.8 yrs

Mike Van de Ven

TITLE
Director
COMPENSATION
$180K
AGE
57
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Mar 19 Sell Paul Obermeyer Individual 01. Mar 19 01. Mar 19 -8,200 $86.76 $-711,367
28. Feb 19 Sell Megan Burkhart Individual 27. Feb 19 27. Feb 19 -7,443 $87.58 $-651,647
31. Jan 19 Sell Peter Guilfoile Individual 29. Jan 19 29. Jan 19 -2,297 $82.26 $-188,951
X
Management checks
We assess Comerica's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Comerica has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Have Insiders Been Selling Comerica Incorporated (NYSE:CMA) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Comerica Incorporated (NYSE:CMA). … For example, a Harvard University study found that 'insider purchases earn abnormal returns of more than 6% per year.' View our latest analysis for Comerica The Last 12 Months Of Insider Transactions At Comerica Over the last year, we can see that the biggest insider sale was by the Executive Vice President of Enterprise Technology, Paul Obermeyer, for US$711k worth of shares, at about US$86.76 per share. … NYSE:CMA Recent Insider Trading, July 22nd 2019 Insiders at Comerica Have Sold Stock Recently Over the last three months, we've seen significant insider selling at Comerica.

Simply Wall St -

At US$71.73, Is Comerica Incorporated (NYSE:CMA) Worth Looking At Closely?

Comerica Incorporated (NYSE:CMA) saw significant share price movement during recent months on the NYSE, rising to highs of $80.33 and falling to the lows of $68.82. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. … This is because Comerica’s beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market.

Simply Wall St -

Comerica Incorporated (NYSE:CMA) Is A Real Dividend Rock Star - Here Is Why

It is a stock that pays a consistent, reliable and competitive dividend over a long period of time, and is expected to continue to pay in the same manner many years to come. … More specifically: It is paying an annual yield above 75% of dividend payers It has paid dividend every year without dramatically reducing payout in the past Its has increased its dividend per share amount over the past It can afford to pay the current rate of dividends from its earnings It is able to continue to payout at the current rate in the future High Yield And Dependable The company's dividend yield stands at 3.9%, which is high for Banks stocks. … Next Steps: Comerica's strong dividend attributes make it, without a doubt, a stock dividend investors should be considering for their portfolios.

Simply Wall St -

What Makes Comerica Incorporated (NYSE:CMA) A Great Dividend Stock?

Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Comerica has grown its earnings per share at 22% per annum over the past five years. … Conclusion To summarise, shareholders should always check that Comerica's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Does Comerica (NYSE:CMA) Deserve A Spot On Your Watchlist?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Comerica (NYSE:CMA). … View our latest analysis for Comerica Comerica's Earnings Per Share Are Growing. … Comerica maintained stable EBIT margins over the last year, all while growing revenue 7.9% to US$3.4b.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Comerica Incorporated (NYSE:CMA)

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll apply a basic P/E ratio analysis to Comerica Incorporated's (NYSE:CMA), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Real Risks You Need To Know Before Investing In Comerica Incorporated (NYSE:CMA)

As a US$12b market capitalisation company operating in the financial services sector, Comerica Incorporated (NYSE:CMA) has benefited from strong economic growth and improved credit quality as a result of post-GFC recovery. … Economic growth fuels demand for loans and affects a borrower’s ability to repay which directly impacts the level of risk Comerica takes on. … The level of risky assets a bank holds on its accounts affects the attractiveness of the company as an investment.

Simply Wall St -

What Should Investors Know About Comerica Incorporated's (NYSE:CMA) Earnings Outlook?

In December 2018, Comerica Incorporated (NYSE:CMA) announced its latest earnings update, whicha … suggested

Simply Wall St -

Three Understated Metrics For Comerica Incorporated (NYSE:CMA) You Should Know

A set of reforms called Basel III was imposed in order to strengthen regulation, supervision and risk management in the banking sector. … CMA operates predominantly in and is held to stringent regulation around the type and level of risk it can take on, exposing it to higher scrutiny on its risk-taking behaviour. … Investors should be more cautious when it comes to financial stocks given the different type of risk to which they are exposed.

Simply Wall St -

Can You Imagine How Chuffed Comerica's (NYSE:CMA) Shareholders Feel About Its 116% Share Price Gain?

For instance the Comerica Incorporated (NYSE:CMA) share price is 116% higher than it was three years ago. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Comerica was able to grow its EPS at 36% per year over three years, sending the share price higher.

Simply Wall St -

Company Info

Description

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities. The Retail Bank segment provides personal financial services, such as consumer lending, consumer deposit gathering, and mortgage loan origination. It also offers various consumer products that include deposit accounts, installment loans, credit cards, student loans, home equity lines of credit, and residential mortgage loans. The Wealth Management segment provides products and services comprising fiduciary, private banking, retirement, investment management and advisory, and investment banking and brokerage services. It also sells annuity products; and life, disability, and long-term care insurance products. The company also engages in the securities portfolio, and asset and liability management activities. It operates in Texas, California, and Michigan, as well as in Arizona and Florida, Canada, and Mexico. The company was formerly known as DETROITBANK Corporation and changed its name to Comerica Incorporated in July 1982. Comerica Incorporated was founded in 1849 and is headquartered in Dallas, Texas.

Details
Name: Comerica Incorporated
CMA
Exchange: NYSE
Founded: 1849
$10,536,741,378
149,797,290
Website: http://www.comerica.com
Address: Comerica Incorporated
Comerica Bank Tower,
1717 Main Street,
Dallas,
Texas, 75201,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CMA Common Stock New York Stock Exchange US USD 02. Jan 1969
DB CA3 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
LSE 0I1P Common Stock London Stock Exchange GB USD 02. Jan 1969
Number of employees
Current staff
Staff numbers
7,693
Comerica employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/24 01:15
End of day share price update: 2019/07/23 00:00
Last estimates confirmation: 2019/07/22
Last earnings filing: 2019/07/17
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.