Comerica Incorporated (NYSE:CMA) – Equities research analysts at Piper Jaffray Companies boosted their Q2 2019 EPS estimates for Comerica in a note issued to investors on Tuesday, June 11th. Piper Jaffray Companies analyst B. Rabatin now expects that the financial services provider will post earnings of $2.02 per share for the quarter, up from their prior estimate of $2.01. Piper Jaffray Companies has a “Buy” rating and a $91.00 price target on the stock. Piper Jaffray Companies also issued estimates for Comerica’s Q4 2019 earnings at $2.03 EPS, FY2019 earnings at $8.15 EPS, Q1 2020 earnings at $1.99 EPS, Q2 2020 earnings at $2.01 EPS, Q3 2020 earnings at $2.11 EPS, Q4 2020 earnings at $2.17 EPS and FY2020 earnings at $8.29 EPS.
Several other equities analysts have also commented on CMA. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, March 12th. Stephens lowered shares of Comerica from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Jefferies Financial Group lowered shares of Comerica from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Wednesday, April 17th. BMO Capital Markets lowered shares of Comerica from an “outperform” rating to a “market perform” rating and set a $83.00 price target for the company. in a research report on Thursday, February 14th. Finally, Wedbush downgraded Comerica from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $86.00 to $85.00 in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average target price of $91.23.
CMA opened at $71.11 on Wednesday. The firm has a market capitalization of $10.81 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03. Comerica has a 12-month low of $63.69 and a 12-month high of $100.64.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.15. Comerica had a net margin of 34.75% and a return on equity of 16.95%. The company had revenue of $852.00 million during the quarter, compared to analysts’ expectations of $852.88 million. During the same quarter in the previous year, the business posted $1.59 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC acquired a new stake in shares of Comerica in the 1st quarter valued at $292,000. Marshall Wace North America L.P. purchased a new position in Comerica during the 1st quarter worth $1,537,000. Cerebellum GP LLC boosted its holdings in shares of Comerica by 6.1% in the first quarter. Cerebellum GP LLC now owns 3,925 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 225 shares in the last quarter. Cleararc Capital Inc. purchased a new stake in shares of Comerica in the first quarter valued at about $284,000. Finally, Horizon Investments LLC purchased a new stake in shares of Comerica in the first quarter valued at about $200,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.
In related news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, June 13th. Comerica’s dividend payout ratio (DPR) is presently 37.02%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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