Comerica announces board changes and shareholder votes

Comerica Incorporated (NYSE:CMA), currently trading at $53.74 with a market capitalization of $7.1 billion, reported on Monday that Nancy Avila’s tenure as a director concluded, and the Board of Directors was reduced to eleven members effective at the start of the 2025 Annual Meeting of Shareholders on April 29, 2025. According to InvestingPro data, the company maintains a strong tradition of corporate governance, with a 55-year track record of consecutive dividend payments.

During the annual meeting, shareholders voted on three key proposals. The election of eleven directors was affirmed, with each nominee receiving a majority of votes. The appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. Additionally, a non-binding advisory proposal on executive compensation received shareholder approval.

The detailed voting results included the number of votes for, against, abstentions, and broker non-votes for each proposal. The eleven directors elected will serve a one-year term expiring in 2026.

This information is based on the latest 8-K filing with the SEC by Comerica Incorporated, a financial services company headquartered in Dallas, Texas. The company is incorporated in Delaware and operates under the SIC code for National Commercial Banks.

In other recent news, Comerica Incorporated has been in the spotlight following its first-quarter earnings report for 2025. The company reported earnings per share (EPS) of $1.25, surpassing both Wall Street’s expectation of $1.14 and UBS’s estimate of $1.12. Despite this earnings beat, Comerica’s revenue forecasts have been revised downward, with DA Davidson analysts citing a weaker loan outlook and sluggish start to the year as contributing factors. As a result, DA Davidson adjusted Comerica’s stock price target to $56 while maintaining a Neutral rating.

In contrast, UBS continues to hold a Neutral rating with a $59 price target, noting that net interest income and lower expenses contributed positively to the earnings. However, Evercore ISI and JPMorgan have downgraded Comerica’s stock rating, with Evercore ISI lowering its price target to $50 and JPMorgan reducing it to $52. These downgrades reflect concerns over Comerica’s pre-provision net revenue and future revenue pressures. Additionally, Comerica announced the appointment of Eric Teal as its new Chief Investment Officer, who will play a key role in shaping the company’s investment strategy. These developments indicate a mixed outlook for Comerica, with analysts expressing varying degrees of caution about the bank’s future performance.

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