Comerica Incorporated (NYSE:CMA) – Equities researchers at DA Davidson issued their Q1 2020 earnings per share estimates for Comerica in a research report issued on Wednesday, January 22nd, according to Zacks Investment Research. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $1.63 per share for the quarter. DA Davidson has a “Average” rating and a $69.00 price objective on the stock.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, January 21st. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Comerica had a net margin of 31.33% and a return on equity of 16.20%. The company had revenue of $810.00 million for the quarter, compared to the consensus estimate of $801.73 million. During the same period in the prior year, the company posted $1.88 EPS.
A number of other brokerages have also recently commented on CMA. B. Riley reaffirmed a “hold” rating and issued a $75.00 price target on shares of Comerica in a research note on Tuesday, January 21st. BMO Capital Markets lowered their price target on Comerica from $72.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday, January 22nd. ValuEngine raised Comerica from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. SunTrust Banks reissued a “hold” rating and set a $72.00 target price on shares of Comerica in a research note on Wednesday, January 22nd. Finally, Piper Jaffray Companies cut Comerica from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $74.50 to $72.50 in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.97.
Comerica stock opened at $62.06 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.99. The company has a market cap of $9.12 billion, a PE ratio of 7.90, a PEG ratio of 0.61 and a beta of 1.55. The company’s 50-day moving average is $67.74 and its two-hundred day moving average is $66.90. Comerica has a 1 year low of $58.54 and a 1 year high of $88.96.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.72 dividend on an annualized basis and a yield of 4.38%. This is an increase from Comerica’s previous quarterly dividend of $0.67. Comerica’s dividend payout ratio is 34.31%.
In other Comerica news, EVP James Harry Weber sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $63.54, for a total transaction of $413,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covington Capital Management boosted its holdings in shares of Comerica by 88.5% in the 2nd quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock valued at $30,000 after buying an additional 193 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Comerica in the 3rd quarter valued at approximately $38,000. Quadrant Capital Group LLC boosted its holdings in shares of Comerica by 169.7% in the 4th quarter. Quadrant Capital Group LLC now owns 499 shares of the financial services provider’s stock valued at $30,000 after buying an additional 314 shares during the last quarter. Thor Advisors LLC acquired a new stake in shares of Comerica in the 3rd quarter valued at approximately $34,000. Finally, NuWave Investment Management LLC boosted its holdings in shares of Comerica by 636.6% in the 4th quarter. NuWave Investment Management LLC now owns 523 shares of the financial services provider’s stock valued at $38,000 after buying an additional 452 shares during the last quarter. 82.56% of the stock is owned by institutional investors.
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.