NEW YORK, May 27, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Comerica Incorporated (NYSE: CMA), Canadian Imperial Bank of Commerce (NYSE: CM), FirstMerit Corporation (NASDAQ: FMER), City National Corp. (NYSE: CYN) and Credit Suisse Group (NYSE: CS). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2963-100free.
Comerica Incorporated Analyst Notes
On May 22, 2014, Comerica Incorporated (Comerica) announced that Monica L. Martinez, Senior Vice President, Corporate Contributions for Texas and Arizona and National Hispanic Business Development was recognized in the April 2014 issue of Latino Magazine's Top 10 list of corporate Latinas. The list recognizes Hispanic women who have made outstanding contributions in their field and are an inspiration to others. According to the Company, Martinez has dual roles of managing the Corporate Contributions function for the bank's Texas and Arizona markets as well as overseeing all aspects of the bank's involvement in Hispanic Business Development nationally. Commenting on the recognition, Martinez said, "It's an honor to be among the trailblazers on the list. I am fortunate to work for a company that values diversity, invests in its employees and gives back to the community." The full analyst notes on Comerica are available to download free of charge at:
http://www.analystsreview.com/2963-CMA-27May2014.pdf
Canadian Imperial Bank of Commerce Analyst Notes
On May 15, 2014, Canadian Imperial Bank of Commerce (CIBC) announced that it has recorded a non-cash goodwill impairment charge of CAD420 million relating to its investment in CIBC FirstCaribbean International Bank Limited for Q2 FY 2014 (period ended April 30, 2014). In addition, CIBC also recorded CAD123 million of incremental loan losses for CIBC FirstCaribbean, reflecting revised expectations on the extent and timing of the economic recovery in the Caribbean region. The company informed that the CET 1 capital ratio at April 30, 2014 is expected to strengthen from 9.5% reported as at January 31, 2014. Further, the Company informed that both the CET 1 ratio and the incremental loan losses have been recorded in the Corporate and Other business segment and will reflect in the Q2 FY 2014 financial report, which will be released on May 29, 2014. The full analyst notes on CIBC are available to download free of charge at:
http://www.analystsreview.com/2963-CM-27May2014.pdf
FirstMerit Corporation Analyst Notes
On May 15, 2014, FirstMerit Corporation (FirstMerit) declared a dividend of $14.69 per share, or $0.37 per depository share, on the Company's 5.875% non-cumulative perpetual preferred stock, Series A. The Company informed that the dividend is payable on August 4, 2014 to shareholders of record on July 18, 2014. The full analyst notes on FirstMerit are available to download free of charge at:
http://www.analystsreview.com/2963-FMER-27May2014.pdf
City National Corp. Analyst Notes
On May 22, 2014, City National Corp. (City National) announced that it has hired Ted Bojorquez to serve as the Senior Vice President and Manager of Commercial Banking services in San Jose. Bojorquez will lead a team that is responsible for delivering the bank's full range of credit, depository, trade finance, and cash management services to mid-sized companies, as well as complementary services such as real estate lending and equipment leasing. Prior to joining the Company, Bojorquez was the team lead for US Bank in San Jose for six years. He has also held various executive positions in finance, operations management, and business development for a number of technology-focused companies previously. Commenting on the appointment, Michael Walker, Executive Vice President and Bay Area Regional Executive for City National Bank said, "Ted brings with him extensive experience serving the unique needs of Silicon Valley business owners and entrepreneurs, and is already well known and respected in the community. His addition will allow us to better serve the growing businesses that are thriving here." The full analyst notes on City National are available to download free of charge at:
http://www.analystsreview.com/2963-CYN-27May2014.pdf
Credit Suisse Group Analyst Notes
On May 20, 2014, Credit Suisse Group (Credit Suisse) reported that the Company has agreed to pay c.$2.8 billion (CHF 2.5 billion) as a comprehensive and final settlement for all outstanding matters relating to the former cross-border private banking business with U.S. clients. The settlement includes a guilty plea entered into by Credit Suisse's Swiss banking entity, Credit Suisse AG. The Company informed that the final settlement results in an after-tax charge of CHF 1.6 billion to be booked in Q2 2014. Credit Suisse also informed that its Look-through Basel III CET1 ratio would have been 9.3% at the end of Q1 2014 had this charge been applied at that time, and is now expected to exceed 10% by end of 2014. Brady Dougan, CEO of Credit Suisse, commented, "Having this matter fully resolved is an important step forward for us. We have seen no material impact on our business resulting from the heightened public attention on this issue in the past several weeks." The full analyst notes on Credit Suisse are available to download free of charge at:
http://www.analystsreview.com/2963-CS-27May2014.pdf
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