Comerica Incorporated (NYSE:CMA) – Equities research analysts at DA Davidson boosted their Q3 2018 earnings per share (EPS) estimates for shares of Comerica in a research report issued on Tuesday, July 17th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $1.78 for the quarter, up from their prior estimate of $1.65.
Get Comerica alerts:Several other equities analysts also recently commented on CMA. Nomura increased their target price on Comerica to $117.00 and gave the company a “buy” rating in a research report on Monday, March 26th. B. Riley increased their target price on Comerica from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Tuesday, April 3rd. ValuEngine upgraded Comerica from a “hold” rating to a “buy” rating in a research report on Tuesday, April 3rd. Finally, Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and increased their target price for the company from $103.00 to $111.00 in a research report on Monday, April 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. Comerica has an average rating of “Hold” and an average target price of $99.34.
Comerica stock opened at $94.22 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $16.12 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 0.73 and a beta of 1.38. Comerica has a 12 month low of $64.04 and a 12 month high of $102.66.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.26. Comerica had a return on equity of 13.14% and a net margin of 27.28%. The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $833.59 million. During the same period in the prior year, the company earned $1.13 EPS. Comerica’s revenue for the quarter was up 8.0% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Sunday, July 1st. Stockholders of record on Friday, June 15th were paid a $0.34 dividend. This is a boost from Comerica’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $1.36 annualized dividend and a dividend yield of 1.44%. Comerica’s dividend payout ratio is presently 28.75%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Comerica by 3.3% in the first quarter. BlackRock Inc. now owns 12,276,183 shares of the financial services provider’s stock valued at $1,177,655,000 after buying an additional 393,237 shares during the period. Millennium Management LLC increased its stake in shares of Comerica by 9.2% in the first quarter. Millennium Management LLC now owns 3,797,900 shares of the financial services provider’s stock valued at $364,333,000 after buying an additional 318,602 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Comerica by 31.6% in the first quarter. Neuberger Berman Group LLC now owns 3,584,624 shares of the financial services provider’s stock valued at $343,868,000 after buying an additional 861,083 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Comerica by 11.5% in the first quarter. The Manufacturers Life Insurance Company now owns 1,754,008 shares of the financial services provider’s stock valued at $168,263,000 after buying an additional 181,164 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Comerica in the first quarter valued at about $142,568,000. 81.88% of the stock is owned by institutional investors.
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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