Comerica (NYSE:CMA) Releases Earnings Results, Beats Estimates By $0.02 EPS

Comerica (NYSE:CMA – Get Rating) released its earnings results on Thursday. The financial services provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.02, Briefing.com reports. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same quarter in the previous year, the business posted $1.66 EPS.

Comerica Price Performance

Shares of CMA opened at $69.13 on Friday. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18. Comerica has a twelve month low of $62.83 and a twelve month high of $102.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $67.91 and a two-hundred day moving average of $73.37.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.93%. Comerica’s dividend payout ratio is presently 32.11%.

Wall Street Analysts Forecast Growth

CMA has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Comerica in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Argus upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Thursday, October 20th. Wells Fargo & Company reduced their target price on shares of Comerica from $77.00 to $72.00 in a report on Wednesday, December 14th. Keefe, Bruyette & Woods downgraded shares of Comerica from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $105.00 to $80.00 in a report on Monday, December 12th. Finally, Royal Bank of Canada reduced their target price on shares of Comerica from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, October 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

Institutional Investors Weigh In On Comerica

Several institutional investors have recently bought and sold shares of the company. Almanack Investment Partners LLC. acquired a new stake in shares of Comerica during the third quarter worth $38,000. Covestor Ltd lifted its stake in shares of Comerica by 28.7% during the first quarter. Covestor Ltd now owns 1,147 shares of the financial services provider’s stock worth $104,000 after buying an additional 256 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of Comerica by 49.3% during the first quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the financial services provider’s stock worth $109,000 after buying an additional 396 shares during the period. Federated Hermes Inc. lifted its stake in shares of Comerica by 220.7% during the third quarter. Federated Hermes Inc. now owns 2,367 shares of the financial services provider’s stock worth $168,000 after buying an additional 1,629 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Comerica during the first quarter worth $208,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.