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Comerica Inc - Stock Quote CMA

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Morningstar's Comerica Inc Stock Analysis

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Circling Back To Comerica After Q1 Earnings; Lowering Our Fair Value Estimate To $89 From $93

Eric Compton, CFA Senior Equity Analyst

Business Strategy and Outlook

| Eric Compton, CFA |

Comerica is predominantly a commercial-focused middle-market bank, with over 90% of loans related to commercial lending and the majority of these related to its middle-market business. While the bank started in Michigan and remains a key player in this market, it has gradually expanded into California and Texas, which offer more growth potential. This has been a multiyear project and included moving the headquarters to Dallas from Michigan in 2007 and greatly expanding operations in Texas by acquiring Sterling Bancshares in 2011. Expansion in California has happened gradually for years, and the market has become Comerica's largest, with roughly one third of the bank’s loans now based there.

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Comerica Inc's Company Profile

Business Description

Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada.

Contact
1717 Main Street, Comerica Bank Tower, MC 6404
Dallas, TX, 75201
T +1 214 462-6831
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Cyclical
Employees 7,611

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