Comerica Incorporated (NYSE:CMA) – DA Davidson boosted their Q2 2018 EPS estimates for shares of Comerica in a report released on Wednesday. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings of $1.55 per share for the quarter, up from their prior forecast of $1.32. DA Davidson has a “Hold” rating and a $100.00 price objective on the stock. DA Davidson also issued estimates for Comerica’s Q4 2018 earnings at $1.69 EPS and FY2018 earnings at $6.34 EPS.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The company had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share.
Comerica (CMA) traded down $0.95 during midday trading on Friday, reaching $93.81. 1,303,900 shares of the company’s stock traded hands, compared to its average volume of 1,573,492. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a one year low of $64.04 and a one year high of $95.60. The firm has a market capitalization of $16,393.48, a P/E ratio of 22.71, a PEG ratio of 1.68 and a beta of 1.51.
A number of institutional investors have recently modified their holdings of CMA. Janus Henderson Group PLC increased its holdings in Comerica by 12,425.0% in the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Comerica by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. increased its holdings in Comerica by 6.7% in the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares in the last quarter. State Street Corp increased its holdings in Comerica by 11.3% in the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after buying an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Comerica by 132.7% in the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after buying an additional 965,041 shares in the last quarter. 81.95% of the stock is owned by institutional investors.
In related news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction dated Friday, November 10th. The stock was 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. Corporate insiders own 1.10% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.28%. Comerica’s dividend payout ratio is currently 29.06%.
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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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