Comerica Incorporated (NYSE:CMA) – Piper Jaffray Companies upped their Q3 2019 earnings estimates for Comerica in a report released on Wednesday, January 16th. Piper Jaffray Companies analyst B. Rabatin now anticipates that the financial services provider will post earnings per share of $2.01 for the quarter, up from their prior estimate of $1.98. Piper Jaffray Companies currently has a “Buy” rating and a $106.00 price objective on the stock.
CMA has been the subject of several other research reports. ValuEngine cut shares of Comerica from a “sell” rating to a “strong sell” rating in a report on Thursday, December 13th. Morgan Stanley lowered their price target on shares of Comerica from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, December 11th. Macquarie cut shares of Comerica from a “neutral” rating to an “underperform” rating in a report on Tuesday, November 27th. BMO Capital Markets lowered their price target on shares of Comerica from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 17th. Finally, SunTrust Banks lowered their price target on shares of Comerica to $91.00 and set a “hold” rating for the company in a report on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Comerica presently has a consensus rating of “Hold” and a consensus price target of $95.52.
NYSE CMA opened at $81.19 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86. Comerica has a 52 week low of $63.69 and a 52 week high of $102.66. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.52 and a beta of 1.38.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. Comerica had a net margin of 34.24% and a return on equity of 15.84%. The company had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $863.43 million. During the same quarter in the previous year, the business posted $1.28 EPS. The firm’s revenue was up 4.1% on a year-over-year basis.
Several large investors have recently modified their holdings of CMA. Raymond James & Associates raised its stake in Comerica by 9.4% during the 2nd quarter. Raymond James & Associates now owns 62,356 shares of the financial services provider’s stock worth $5,670,000 after buying an additional 5,378 shares during the period. First Republic Investment Management Inc. raised its stake in Comerica by 10.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 7,294 shares of the financial services provider’s stock worth $664,000 after buying an additional 713 shares during the period. Tower Research Capital LLC TRC acquired a new position in Comerica during the 2nd quarter worth approximately $444,000. FMR LLC raised its stake in Comerica by 31.5% during the 2nd quarter. FMR LLC now owns 1,074,432 shares of the financial services provider’s stock worth $97,687,000 after buying an additional 257,581 shares during the period. Finally, Royal London Asset Management Ltd. acquired a new position in Comerica during the 2nd quarter worth approximately $6,922,000. Institutional investors and hedge funds own 84.59% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, December 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.96%. Comerica’s dividend payout ratio is presently 33.15%.
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.