Comerica Incorporated (NYSE:CMA) – Investment analysts at FBR & Co increased their Q2 2017 earnings per share (EPS) estimates for Comerica in a research report issued to clients and investors on Tuesday. FBR & Co analyst B. Ramsey now anticipates that the firm will earn $0.94 per share for the quarter, up from their prior estimate of $0.90. FBR & Co has a “Market Perform” rating on the stock. FBR & Co also issued estimates for Comerica’s Q1 2018 earnings at $1.04 EPS, Q2 2018 earnings at $1.12 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.25 EPS and FY2018 earnings at $4.60 EPS.
Other equities research analysts also recently issued research reports about the stock. Sandler O’Neill downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Stephens raised shares of Comerica from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Comerica in a research note on Wednesday, December 28th. Citigroup Inc. downgraded shares of Comerica from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 10th. Finally, Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Friday, October 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.67.
Comerica (NYSE:CMA) traded up 0.956% on Wednesday, hitting $65.995. 1,248,003 shares of the stock were exchanged. The company has a 50 day moving average of $68.14 and a 200 day moving average of $53.26. The stock has a market capitalization of $11.37 billion, a P/E ratio of 27.509 and a beta of 1.44. Comerica has a one year low of $30.48 and a one year high of $71.20.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 17th. The financial services provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. The business had revenue of $722 million for the quarter, compared to the consensus estimate of $728.90 million. Comerica had a net margin of 14.97% and a return on equity of 6.36%. Comerica’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS.
A number of large investors have recently made changes to their positions in CMA. Tower Research Capital LLC TRC increased its stake in shares of Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,129 shares during the last quarter. BKS Advisors LLC purchased a new stake in shares of Comerica during the third quarter worth about $120,000. Pacer Advisors Inc. increased its stake in shares of Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares during the last quarter. SRB Corp increased its stake in shares of Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock worth $161,000 after buying an additional 287 shares during the last quarter. Finally, Tredje AP fonden increased its stake in shares of Comerica by 733.9% in the second quarter. Tredje AP fonden now owns 4,920 shares of the financial services provider’s stock worth $202,000 after buying an additional 4,330 shares during the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.
In other Comerica news, EVP Megan D. Burkhart sold 4,373 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $60.72, for a total transaction of $265,528.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Muneera S. Carr sold 1,986 shares of the stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $51.07, for a total transaction of $101,425.02. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Thursday, December 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, December 13th. Comerica’s dividend payout ratio is 37.25%.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.