Q1 2017 Earnings Forecast for Comerica Incorporated (CMA) Issued By SunTrust Banks
Comerica Incorporated (NYSE:CMA) – Investment analysts at SunTrust Banks raised their Q1 2017 EPS estimates for Comerica in a report released on Monday. SunTrust Banks analyst J. Demba now expects that the financial services provider will earn $0.98 per share for the quarter, up from their prior estimate of $0.88. SunTrust Banks also issued estimates for Comerica’s Q3 2017 earnings at $1.06 EPS, Q4 2017 earnings at $1.13 EPS, FY2017 earnings at $4.14 EPS, Q1 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.26 EPS and Q4 2018 earnings at $1.34 EPS.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.10. Comerica had a net margin of 16.00% and a return on equity of 6.92%. During the same period in the prior year, the firm posted $0.34 earnings per share.
CMA has been the subject of several other research reports. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Jefferies Group LLC reiterated a “buy” rating on shares of Comerica in a research report on Tuesday, March 21st. FBR & Co reiterated a “market perform” rating on shares of Comerica in a research report on Tuesday, January 17th. Citigroup Inc lowered shares of Comerica from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 10th. Finally, JPMorgan Chase & Co. upgraded shares of Comerica from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $58.59.
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Comerica (NYSE:CMA) opened at 67.97 on Thursday. The company has a market capitalization of $11.95 billion, a P/E ratio of 25.36 and a beta of 1.43. The firm has a 50-day moving average of $69.39 and a 200 day moving average of $64.44. Comerica has a one year low of $36.82 and a one year high of $75.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Comerica during the fourth quarter worth approximately $283,880,000. Eton Park Capital Management L.P. acquired a new position in Comerica during the fourth quarter worth approximately $140,887,000. Appaloosa LP acquired a new position in Comerica during the fourth quarter worth approximately $78,462,000. Morgan Stanley increased its position in Comerica by 314.1% in the third quarter. Morgan Stanley now owns 1,362,262 shares of the financial services provider’s stock worth $64,464,000 after buying an additional 1,033,275 shares during the period. Finally, Credit Suisse AG increased its position in Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock worth $75,477,000 after buying an additional 1,031,876 shares during the period. 81.74% of the stock is currently owned by institutional investors.
In related news, CFO David E. Duprey sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $67.82, for a total value of $4,001,380.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Judith S. Love sold 36,900 shares of the firm’s stock in a transaction dated Friday, January 20th. The stock was sold at an average price of $66.77, for a total transaction of $2,463,813.00. The disclosure for this sale can be found here. Insiders sold a total of 142,428 shares of company stock worth $9,614,020 in the last ninety days. 1.60% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Wednesday, March 15th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, March 13th. Comerica’s dividend payout ratio is presently 34.33%.
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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