Comerica Incorporated (NYSE:CMA) – Equities research analysts at B. Riley decreased their Q1 2018 earnings per share (EPS) estimates for shares of Comerica in a note issued to investors on Tuesday. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings per share of $1.47 for the quarter, down from their previous forecast of $1.55. B. Riley has a “Buy” rating and a $84.00 price target on the stock. B. Riley also issued estimates for Comerica’s Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.68 EPS, Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.40 EPS, Q1 2019 earnings at $1.71 EPS, Q2 2019 earnings at $1.78 EPS, Q3 2019 earnings at $1.85 EPS, Q4 2019 earnings at $1.90 EPS and FY2019 earnings at $7.25 EPS.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter in the previous year, the firm posted $0.92 EPS.
A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $103.00 price target on shares of Comerica in a report on Wednesday. Wedbush lifted their price objective on shares of Comerica from $91.00 to $97.00 and gave the company a “neutral” rating in a research note on Wednesday. SunTrust Banks lifted their price objective on shares of Comerica to $98.00 and gave the company a “hold” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Comerica from $6.90 to $111.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Sanford C. Bernstein set a $99.00 price objective on shares of Comerica and gave the company a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica presently has an average rating of “Hold” and a consensus price target of $92.37.
Comerica (NYSE:CMA) traded down $0.95 during trading hours on Thursday, hitting $93.81. 1,303,900 shares of the company were exchanged, compared to its average volume of 1,573,492. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $16,393.48, a PE ratio of 22.71, a PEG ratio of 1.68 and a beta of 1.51. Comerica has a 52 week low of $64.04 and a 52 week high of $95.60.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. Comerica’s dividend payout ratio (DPR) is currently 29.06%.
In other news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IBM Retirement Fund purchased a new position in shares of Comerica during the 3rd quarter valued at $200,000. Zeke Capital Advisors LLC purchased a new position in shares of Comerica during the 3rd quarter valued at $200,000. BB&T Corp purchased a new position in shares of Comerica during the 3rd quarter valued at $206,000. Visionary Asset Management Inc. purchased a new position in shares of Comerica during the 3rd quarter valued at $218,000. Finally, West Oak Capital LLC grew its position in shares of Comerica by 1,040.7% during the 4th quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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