Comerica Inc (NYSE:CMA) – Investment analysts at Wedbush raised their Q1 2018 EPS estimates for Comerica in a research note issued to investors on Monday, April 9th. Wedbush analyst P. Winter now forecasts that the financial services provider will earn $1.57 per share for the quarter, up from their prior estimate of $1.50. Wedbush has a “Outperform” rating and a $111.00 price target on the stock. Wedbush also issued estimates for Comerica’s Q3 2018 earnings at $1.80 EPS and FY2018 earnings at $6.90 EPS.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. The firm had revenue of $830.00 million during the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same period in the prior year, the company posted $0.92 earnings per share.
A number of other equities research analysts have also recently issued reports on CMA. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Comerica in a report on Wednesday, December 13th. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. BMO Capital Markets reiterated a “hold” rating and issued a $91.00 price objective on shares of Comerica in a report on Wednesday, December 20th. Wells Fargo set a $88.00 target price on shares of Comerica and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $101.00 target price on shares of Comerica in a research report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $96.10.
Shares of NYSE:CMA opened at $97.38 on Tuesday. The firm has a market capitalization of $16,403.44, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.42 and a beta of 1.38. Comerica has a 1 year low of $64.04 and a 1 year high of $102.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Financial Services Inc. raised its position in Comerica by 14,008.7% in the fourth quarter. Rockefeller Financial Services Inc. now owns 1,446,003 shares of the financial services provider’s stock worth $125,527,000 after purchasing an additional 1,435,754 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Comerica by 17.0% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,855,255 shares of the financial services provider’s stock worth $247,865,000 after purchasing an additional 415,034 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Comerica by 41.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,370,278 shares of the financial services provider’s stock worth $118,954,000 after purchasing an additional 399,618 shares in the last quarter. Strycker View Capital LLC acquired a new position in Comerica in the fourth quarter worth about $24,003,000. Finally, BlackRock Inc. raised its position in Comerica by 2.2% in the fourth quarter. BlackRock Inc. now owns 11,882,946 shares of the financial services provider’s stock worth $1,031,560,000 after purchasing an additional 255,109 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Ralph W. Babb, Jr. sold 50,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $95.25, for a total transaction of $4,762,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Megan D. Burkhart sold 4,670 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $99.20, for a total transaction of $463,264.00. The disclosure for this sale can be found here. Insiders have sold 272,006 shares of company stock valued at $26,250,992 in the last ninety days. 0.83% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, March 14th. Comerica’s dividend payout ratio is currently 25.37%.
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Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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