Core Points - Comerica Bank is hosting its 10th annual North Texas Prom Dress Drive in February, aiming to support local teens who cannot afford formal attire for prom [1][2] - The initiative has successfully sent thousands of teens to prom over the years, with over 200 students benefiting from the program last year [2] - New locations have been added for the 2025 drive, including the Mockingbird-Abrams Banking Center and the Preston John Hickman Banking Center [2] - Project Beauty has partnered with Comerica to enhance the drive by collecting dresses and providing beauty swag bags and makeovers for selected teens [2] Company Overview - Comerica Incorporated is a financial services company headquartered in Dallas, Texas, with a focus on building relationships and helping individuals and businesses succeed [5] - The company operates 380 banking centers across the U.S. and reported total assets of $79.3 billion as of December 31, 2024 [5] Community Impact - Since 2015, Comerica has donated nearly 6,600 dresses to local organizations, including 380 dresses in 2024 [4] - The drive aims to empower young women in the community and is part of Comerica's broader mission of community development [2][4] Partner Organizations - Boys & Girls Clubs of Collin County serves nearly 10,000 youth annually through various programs [7] - Boys & Girls Clubs of Greater Dallas has provided services to over a quarter of a million youth in its 60-year history [8] - Dallas CASA advocates for children in protective care, serving over 2,000 children in 2024 [9] - Project Beauty focuses on empowering women and children facing challenging circumstances through beauty services [10]

Core Insights - Comerica's shares have increased by 15% over the past year, but this performance is below the market average and many financial institutions [1] - The company is facing challenges due to a decline in non-interest-bearing (NIB) deposits and the loss of a government contract [1] Company Performance - The stock has shown mixed performance, indicating volatility in its market position [1] - The decline in NIB deposits is a significant concern for the company's financial health [1] Market Context - Comerica's performance is contrasted with broader market trends and other financial companies, highlighting its underperformance [1]

Core Viewpoint - Comerica Incorporated (CMA) reported mixed financial results for the fourth quarter of 2024, with adjusted earnings per share (EPS) missing estimates, while full-year EPS showed a decline compared to the previous year [1][2]. Financial Performance - Fourth-quarter adjusted EPS was $1.20, below the Zacks Consensus Estimate of $1.25, and down from $1.46 in the prior-year quarter [1]. - For 2024, adjusted EPS was $5.39, slightly beating the Zacks Consensus Estimate of $5.38, but down from $7.75 reported in the year-ago quarter [2]. - Net income attributable to common shareholders (GAAP basis) for the fourth quarter was $163 million, significantly up from $27 million in the prior-year quarter [3]. - Full-year net income attributable to common shareholders (GAAP basis) was $671 million, a decrease of 21.4% year over year [3]. Revenue and Expenses - Total quarterly revenues were $825 million, up 5.5% year over year, but missed the consensus estimate of $834.6 million [4]. - Full-year revenues totaled $3.24 billion, down 9.7% year over year, and also missed the Zacks Consensus Estimate of $3.28 billion [4]. - Quarterly net interest income (NII) fell 1.5% year over year to $575 million, while the net interest margin increased by 15 basis points to 3.06% [4]. - Total non-interest income was $250 million, up 26.3% year over year, driven by increases in service charges, capital markets income, and other fees [5]. - Non-interest expenses totaled $587 million, down 18.2% year over year, primarily due to reductions in salaries and benefits [5]. Efficiency and Credit Quality - The efficiency ratio improved to 69.51% from 91.86% in the prior-year quarter, indicating increased profitability [6]. - The company recorded a provision for credit loss of $21 million in the fourth quarter, a 75% increase year over year [8]. - Total non-performing assets surged 73% year over year to $308 million [8]. - The allowance for credit losses to total loans ratio was 1.44%, up from 1.4% a year earlier [9]. Capital Position - Total capital ratio improved to 14.22% from 13.52% in the prior-year quarter, and the Common Equity Tier 1 capital ratio rose to 11.89% from 11.09% [10]. - The tangible common equity ratio was 7%, up from 6.3% in the prior-year quarter [10]. - The company repurchased $100 million of common stock under its share repurchase program [11]. Outlook - The company's solid capital position is expected to support capital distribution activities and enhance investor confidence [12]. - Focus on improving operational efficiency is anticipated to bolster financial performance, although lower NII and weak asset quality remain concerns [12].

Core Insights - Comerica Incorporated (CMA) reported $844 million in revenue for Q4 2024, a year-over-year increase of 7.9% [1] - The EPS for the same period was $1.20, down from $1.46 a year ago, with an EPS surprise of -4.00% compared to the consensus estimate of $1.25 [1] Financial Performance Metrics - Efficiency Ratio was 69.5%, better than the estimated 70.3% [4] - Net interest margin stood at 3.1%, exceeding the average estimate of 3% [4] - Net charge-offs (recoveries)/Average total loans were 0.1%, better than the estimated 0.2% [4] - Average Balance of Total earning assets was $72.07 billion, below the estimated $73.89 billion [4] - Total nonperforming assets were $308 million, higher than the average estimate of $250.38 million [4] - Total nonperforming loans were also $308 million, compared to the estimated $250.07 million [4] - Net interest income reached $575 million, surpassing the average estimate of $557.66 million [4] - Total noninterest income was $269 million, slightly below the estimated $275.72 million [4] - Service charges on deposit accounts were $47 million, above the estimated $45.72 million [4] - Commercial lending fees were $18 million, exceeding the average estimate of $17.39 million [4] - Fiduciary income was $54 million, below the estimated $57.71 million [4] - Letter of credit fees were $10 million, close to the estimated $10.54 million [4] Stock Performance - Comerica shares returned +6.3% over the past month, outperforming the Zacks S&P 500 composite's +2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Comerica Incorporated (NYSE:CMA) Q4 2024 Earnings Conference Call January 22, 2025 8:00 AM ET Company Participants Kelly Gage - Director, IR Curt Farmer - President, Chairman & CEO Jim Herzog - CFO Peter Sefzik - Chief Banking Officer Melinda Chausse - Senior EVP, Chief Credit Officer Conference Call Participants Jon Arfstrom - RBC Capital Markets Manan Gosalia - Morgan Stanley John Pancari - Evercore ISI Bernard Von Gizycki - Deutsche Bank Anthony Elian - JPMorgan Chase Chris McGratty - KBW Operator Greeti ...

Comerica Incorporated (CMA) came out with quarterly earnings of $1.20 per share, missing the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.46 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4%. A quarter ago, it was expected that this company would post earnings of $1.18 per share when it actually produced earnings of $1.37, delivering a surprise of 16.10%.Over the last four quarters, the compan ...

Comerica Incorporated Fourth Quarter & Fiscal Year 2024 Financial Review January 22, 2025 Safe Harbor Statement This presentation, & other Comerica written & oral communications, include statements that are not historical facts but rather are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as achieve, anticipate, aspire, assume, believe, can, confident, continue, could, designed, enhances, estimate, expect, feel, forecast, forward, future, goal, grow ...

DALLAS, Jan. 22, 2025 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) has reported its fourth quarter and full-year 2024 financial results. The results are available on the Investor Relations section of Comerica's website here. In addition, the financial results and earnings presentation will be furnished on a Form 8-K filing that will be available on the Securities and Exchange Commission website at www.sec.gov.As previously announced, Comerica will host a conference call to review the fourth quarter and ...

FULL-YEAR 2024 NET INCOME OF $698 MILLION, $5.02 PER SHARE FOURTH QUARTER 2024 NET INCOME OF $170 MILLION, $1.22 PER SHARE Enhanced Liquidity Through Lower Wholesale Funding and Favorable Customer Deposit Trends Strong Credit Quality and Capital Position with Resumption of Share Repurchases "In 2024, we took steps to further enhance our strong foundation as we improved our capital and liquidity positions while demonstrating credit and expense discipline," said Curtis C. Farmer, Comerica Chairman and Chief E ...

Comerica Incorporated (CMA) is scheduled to report fourth-quarter 2024 results on Jan. 22, before the opening bell. The bank’s revenues are expected to increase while earnings are likely to decline from the year-ago quarter’s reported figures.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The bank’s earnings for the third quarter of 2024 surpassed the Zacks Consensus Estimate by 16.1%. Results benefited from a rise in the deposit balance and a strong capital position. However, a decl ...