Comerica Incorporated Buyback
OLI recorded this information on 6/28/2017
Company:
Comerica Incorporated
Buyback:
CMA buyback
$Amount Authorized:
$605,000,000
Buyback Details:
Comerica Incorporated (NYSE: CMA) today announced that the Federal Reserve has completed its 2017 Comprehensive Capital Analysis and Review ("CCAR") and did not object to the Comerica capital plan and capital distributions contemplated in the plan. The plan includes equity repurchases of up to $605 million for the four-quarter period commencing in the third quarter 2017 and ending in the second quarter 2018. The timing and ultimate amount of equity repurchases will be subject to various factors, including the Company's financial performance and market conditions.
Comerica is a financial holding company, focused on lending to and accepting deposits from businesses and individuals. Co.'s segments include: Commercial Bank, which provides commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services; Retail Bank, which includes a range of personal financial services; and Wealth Management, which provides fiduciary services, private banking, retirement services, securities-based lending, investment management and advisory services, investment banking and brokerage services.
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Buy (2.57 out of 4) 7th percentile
(ranked lower than approx. 93% of all stocks covered)
Analysts' Target Price: CMA Stock Forecast Based on Zacks ABR data; powered by Xignite |