Comerica Inc. (NYSE:CMA) – Analysts at SunTrust Banks raised their Q4 2017 earnings per share estimates for shares of Comerica in a report issued on Tuesday. SunTrust Banks analyst J. Demba now expects that the brokerage will post earnings of $1.17 per share for the quarter, up from their prior forecast of $1.13.
Several other equities analysts have also weighed in on CMA. Robert W. Baird reissued an “outperform” rating and issued a $52.00 price objective on shares of Comerica in a research report on Friday, October 21st. FBR & Co restated a “market perform” rating on shares of Comerica in a research note on Tuesday. BMO Capital Markets restated a “hold” rating on shares of Comerica in a research note on Friday, October 21st. Sandler O’Neill downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Finally, Wedbush upped their price target on shares of Comerica from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, November 30th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.67.
Shares of Comerica (NYSE:CMA) traded down 1.12% during trading on Thursday, reaching $66.31. 2,119,077 shares of the company traded hands. The company has a 50-day moving average of $68.30 and a 200-day moving average of $53.36. The stock has a market capitalization of $11.62 billion, a PE ratio of 24.74 and a beta of 1.44. Comerica has a 12 month low of $30.48 and a 12 month high of $71.20.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, January 17th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.05. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The firm earned $722 million during the quarter, compared to the consensus estimate of $728.90 million. During the same period last year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were paid a $0.23 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.37%. Comerica’s dividend payout ratio is currently 34.33%.
In other news, EVP Megan D. Burkhart sold 4,373 shares of Comerica stock in a transaction on Monday, November 21st. The shares were sold at an average price of $60.72, for a total value of $265,528.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Muneera S. Carr sold 1,986 shares of Comerica stock in a transaction on Friday, October 21st. The shares were 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. Insiders sold a total of 9,025 shares of company stock valued at $505,880 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in Comerica by 305.0% in the third quarter. Victory Capital Management Inc. now owns 1,590,807 shares of the financial services provider’s stock valued at $75,277,000 after buying an additional 1,198,008 shares during the last quarter. Morgan Stanley increased its stake in Comerica by 314.1% in the third quarter. Morgan Stanley now owns 1,362,262 shares of the financial services provider’s stock valued at $64,464,000 after buying an additional 1,033,275 shares during the last quarter. Credit Suisse AG increased its stake in Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock valued at $75,477,000 after buying an additional 1,031,876 shares during the last quarter. Teachers Advisors Inc. increased its stake in Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock valued at $67,858,000 after buying an additional 679,830 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Comerica by 1,260.9% in the third quarter. Two Sigma Advisers LP now owns 674,194 shares of the financial services provider’s stock valued at $31,903,000 after buying an additional 624,655 shares during the last quarter. Institutional investors own 80.79% of the company’s stock.
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.