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Stock Market & Financial Investment News

News Breaks
March 26, 2014
17:53 EDTCMAComerica to repurchase $236M worth of common stock
Comerica Incorporated announced that after the Federal Reserve had completed its 2014 Comprehensive Capital Analysis and Review, it did not object to the Comerica capital plan and capital distributions contemplated in the plan. Comerica's capital plan provides for up to $236M in share repurchases for the four-quarter period commencing in Q2. In addition, Comerica's capital plan includes the authority to redeem $150M of subordinated notes due 2018 when callable at par later this year. On January 21, and as part of its 2013 capital plan, Comerica announced that its board increased the quarterly cash dividend for common stock 12% to 19c per share, payable April 1 to common stock shareholders of record on March 14. The 2014 capital plan, which was approved by Comerica's board, further contemplates a 1c increase in Comerica's quarterly dividend to 20c per common share, a 5% increase over the current dividend rate. The dividend proposal will be considered by the board at its next scheduled meeting on April 22.
News For CMA From The Last 14 Days
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February 9, 2016
06:12 EDTCMAComerica volatility elevated as shares trend lower
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February 5, 2016
06:47 EDTCMAActivist investors eyeing U.S. banks for merger waves, Reuters says
Activist investors are targeting the U.S. banking sector, betting that the headwinds the industry is experiencing will accelerate consolidation among such companies, Reuters reports. Banks historically have stayed out of the line of sight of activist investors, with certain exceptions, though rate and regulatory pressures could result in a wave of M&A for SMID-cap institutions, the report says. Potential activist candidates include Comerica Bank (CMA), which Hudson Executive Capital acquired a $56M stake in earlier this week, and Zions (ZION), Reuters notes. Reference Link

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