Comerica Incorporated (NYSE:CMA) – Analysts at B. Riley raised their Q1 2018 earnings per share (EPS) estimates for Comerica in a research report issued to clients and investors on Thursday. B. Riley analyst S. Moss now forecasts that the financial services provider will post earnings per share of $1.55 for the quarter, up from their previous forecast of $1.34. B. Riley has a “Buy” rating and a $84.00 price objective on the stock. B. Riley also issued estimates for Comerica’s Q2 2018 earnings at $1.57 EPS.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The firm had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter in the prior year, the firm earned $0.84 EPS.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price target on the stock in a research note on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $79.00 price target on shares of Comerica in a research note on Friday, September 22nd. Instinet reissued a “neutral” rating and set a $74.00 price target (up previously from $71.00) on shares of Comerica in a research note on Saturday, September 30th. SunTrust Banks reissued a “hold” rating and set a $83.00 price target on shares of Comerica in a research note on Wednesday, November 29th. Finally, Piper Jaffray Companies raised Comerica to a “buy” rating and set a $98.00 price target on the stock in a research note on Friday, December 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $87.07.
Comerica (CMA) opened at $93.04 on Friday. Comerica has a 52 week low of $64.04 and a 52 week high of $93.54. The firm has a market capitalization of $16,090.62, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
A number of large investors have recently added to or reduced their stakes in the business. Veritable L.P. raised its position in Comerica by 0.3% in the second quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock valued at $794,000 after purchasing an additional 32 shares during the period. Sentry Investment Management LLC raised its position in Comerica by 1.2% in the second quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 142 shares during the period. AXA raised its position in Comerica by 1.0% in the second quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 200 shares during the period. Tredje AP fonden raised its position in Comerica by 4.7% in the second quarter. Tredje AP fonden now owns 7,430 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 331 shares during the period. Finally, Suntrust Banks Inc. raised its position in Comerica by 0.9% in the second quarter. Suntrust Banks Inc. now owns 45,789 shares of the financial services provider’s stock valued at $3,352,000 after purchasing an additional 427 shares during the period. 81.95% of the stock is currently owned by institutional investors.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is currently 27.15%.
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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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