Q2 2024 EPS Estimates for Comerica Incorporated (NYSE:CMA) Lowered by Analyst

Comerica Incorporated (NYSE:CMA) – Analysts at Wedbush lowered their Q2 2024 earnings estimates for shares of Comerica in a research report issued to clients and investors on Thursday, April 18th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $1.09 per share for the quarter, down from their previous forecast of $1.22. The consensus estimate for Comerica’s current full-year earnings is $5.09 per share. Wedbush also issued estimates for Comerica’s Q3 2024 earnings at $1.37 EPS, Q4 2024 earnings at $1.60 EPS, Q4 2025 earnings at $1.57 EPS and FY2025 earnings at $6.15 EPS.

A number of other research analysts have also weighed in on the stock. Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. UBS Group decreased their price target on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Bank Of America (Bofa) raised their price target on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target on the stock in a research note on Thursday, January 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.89.

Comerica Trading Up 0.1 %

Shares of Comerica stock opened at $52.64 on Monday. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.47 and a beta of 1.27. Comerica has a twelve month low of $28.40 and a twelve month high of $57.39. The firm’s 50-day moving average price is $51.44 and its 200 day moving average price is $49.54. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the prior year, the company posted $2.39 EPS.

Institutional Investors Weigh In On Comerica

Several large investors have recently bought and sold shares of CMA. Bison Wealth LLC boosted its position in shares of Comerica by 1.7% during the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 196 shares in the last quarter. Fruth Investment Management boosted its position in shares of Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 200 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of Comerica by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 230 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Insider Buying and Selling at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. Comerica’s dividend payout ratio is currently 56.46%.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including 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 for small and middle market businesses, multinational corporations, and governmental entities.