Core Viewpoint - Investors should focus on fundamentally solid banks with robust dividend yields, specifically Comerica, KeyCorp, and Truist Financial, as they are expected to provide solid dividends despite recent stock declines [1][4]. Group 1: Bank Overview - Comerica, based in Dallas, TX, operates primarily in Texas, California, Michigan, Arizona, and Florida, providing a range of financial services [5]. - KeyCorp, headquartered in Cleveland, OH, is a leading regional bank offering commercial and retail banking, investment management, and consumer finance services [16]. - Truist Financial, located in Charlotte, NC, is one of the largest commercial banks in the U.S., operating mainly through its bank subsidiary, Truist Bank [14]. Group 2: Dividend Information - Comerica has a dividend yield of 6.03% and has raised its quarterly dividend twice in the last five years [2][8]. - KeyCorp's dividend yield stands at 6.04%, with three increases in its dividend payout over the past five years [18]. - Truist Financial offers a dividend yield of 5.69% and has also increased its dividend payout three times in the last five years [20]. Group 3: Economic and Market Context - The current optimism in the banking sector is driven by decent economic growth, a modest rise in loan demand, and banks' initiatives to diversify revenues [3]. - Despite a decline in bank stocks this year, the current prices present a good entry point for investors [4]. - The Federal Reserve's initial outlook for multiple interest rate cuts has shifted to a more conservative stance, yet the sector remains attractive to investors [6]. Group 4: Company-Specific Growth Strategies - Comerica is focused on improving operational efficiency and strategic growth, which is expected to enhance future earnings power [8][10]. - KeyCorp is expanding its business through acquisitions and consolidating its branch network to adapt to rising demand for digital banking services [13]. - Truist Financial is pursuing strategic restructuring initiatives to bolster fee income and has recently sold its remaining stake in its insurance subsidiary to support net interest income [15][19].

FREE document shredding and electronics recycling by Iron Mountain and Information Systems Resources available at Comerica's new Great Lakes Campus DETROIT, May 30, 2024 /PRNewswire/ -- Comerica Bank encourages the public to bring paper documents and computer electronic devices for recycling, free of charge, to Comerica's Great Lakes Campus (36455 Corporate Drive, Farmington Hills, MI 48331) on Saturday, June 15, from 8 a.m. to 1 p.m., for the return of its 15th annual Shred Day. This marks the first year t ...

Company Participation and Events - Comerica Incorporated will participate in the 2024 Morgan Stanley US Financials, Payments & CRE Conference on June 11, 2024 [1] - The second quarter 2024 earnings call is scheduled for July 19, 2024 [2] - A replay of the earnings call will be available for at least 10 days after the live webcast [2][3] Company Overview - Comerica Bank, a subsidiary of Comerica Incorporated, is celebrating its 175th anniversary this year [4] - The company is headquartered in Dallas, Texas, and operates through three business segments: The Commercial Bank, The Retail Bank, and Wealth Management [4] - Comerica is one of the 25 largest commercial U.S. financial holding companies, with total assets reported at $79.4 billion as of March 31, 2024 [4]

Comerica Bank & Trust, N.A entered into an enforcement agreement with the Office of the Comptroller of the Currency (OCC). This relates to the bank's unsafe and unsound practices concerning the risk governance framework and internal controls. Per the agreement, Comerica Bank, N.A has to set up a compliance committee to demonstrate its implementation of proper board oversight and corporate governance to OCC. To ensure accurate reporting of financial transactions, Comerica Bank, N.A is required to implement a ...

Core Viewpoint - Comerica Incorporated (CMA) has entered into an enforcement agreement with the Office of the Comptroller of the Currency (OCC) due to unsafe practices in risk governance and internal controls, resulting in a 5.7% decline in its stock price following the announcement [1]. Group 1: Compliance and Governance - CMA is required to establish a compliance committee to ensure proper board oversight and corporate governance as mandated by the OCC [2]. - The bank must implement a comprehensive data management plan to ensure accurate financial transaction reporting [2]. - Independent reviews are necessary for improving financial data collection and regulatory reporting to ensure compliance [2]. Group 2: Risk Management and Technology - CMA is mandated to create a third-party risk management program that integrates strong internal controls with an updated internal audit program for independent evaluations [3]. - The bank must address risks associated with outdated IT assets, including policies for managing technology assets and conducting risk assessments [3]. Group 3: Board Oversight and Accountability - The board of directors at Comerica is responsible for overseeing the implementation of corrective actions outlined in the agreement, including authorizing necessary measures and ensuring adequate staffing and training [4]. Group 4: Historical Context and Performance - Prior to the enforcement agreement, Comerica faced issues due to a failed technological update that resulted in significant overdrawing of accounts [5]. - The bank had also mismanaged the Treasury Department's Direct Express program, leading to compliance failures and breaches of contractual obligations [6]. - Over the past six months, Comerica's shares have increased by 16.1%, while the industry has seen a growth of 30.7% [6].

DALLAS, May 14, 2024 /PRNewswire/ -- The Points of Light, the world's largest nonprofit dedicated to accelerating people-powered change, has named Comerica Bank to its 2024 list of The Civic 50. It marks the ninth consecutive year and 10th time overall that Comerica has received the honor in the program's 12-year history of recognizing top community-minded companies in the United States according to its annual survey. The Points of Light, the world's largest nonprofit dedicated to accelerating people-powere ...

DALLAS, May 10, 2024 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced its plans to release 2025 quarterly financial results and host conference calls on the following dates: FOURTH QUARTER 2024: Wednesday, Jan. 22, 2025                  7 a.m. CT/ 8 a.m. ET FIRST QUARTER 2025:        Friday, April 18, 2025                          7 a.m. CT/ 8 a.m. ET SECOND QUARTER 2025: Friday, July 18, 2025                          7 a.m. CT/ 8 a.m. ET THIRD QUARTER 2025:      Friday, Oct. 1 ...

12th annual Hatch Off brings organic skincare business to Detroit DETROIT, May 10, 2024 /PRNewswire/ -- The winner of the 2024 Comerica Hatch Detroit Contest by TechTown has been crowned! G.L.A.M. Body Scrubs is the winner of the 12th annual Comerica Hatch Detroit Contest, taking home the $100,000 grand prize from Comerica Bank to open the brick-and-mortar business of their dreams.As the winner of the 2024 Hatch Off, G.L.A.M. Body Scrubs will receive technical assistance from TechTown and its partners, in a ...

DALLAS, May 1, 2024 /PRNewswire/ -- Comerica Incorporated (NYSE: CMA) announced that Floyd Kessler has been named to the new role of Executive Vice President, Chief Business Risk and Controls Officer. Kessler will report to Peter Sefzik, Chief Banking Officer.Kessler will lead the Business Risk and Controls Office for Commercial Bank, Marketing, Customer Experience, the Retail Bank and Wealth Management, helping drive transformation of risk and control functions across all of Comerica's revenue divisions. ...

DALLAS, April 30, 2024 /PRNewswire/ -- Comerica Bank announced today it is expanding its regional partnership with the Network for Teaching Entrepreneurship (NFTE) to multiple markets within its geographical footprint. This $100,000 investment will provide entrepreneurship education programming to more than 25,000 middle and high school students in under-resourced communities who participate in NFTE's Aspiring Entrepreneurs Program in California, Florida, Michigan and Texas. Comerica Bank announced expan ...