Comerica Incorporated (NYSE:CMA) – Investment analysts at Piper Sandler lifted their Q3 2020 earnings per share estimates for Comerica in a research note issued on Sunday, September 13th. Piper Sandler analyst R. Siefers now expects that the financial services provider will earn $0.86 per share for the quarter, up from their prior estimate of $0.76. Piper Sandler also issued estimates for Comerica’s Q4 2020 earnings at $0.77 EPS and FY2020 earnings at $1.97 EPS.
A number of other analysts have also commented on CMA. B. Riley upgraded Comerica from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a report on Thursday, June 4th. Royal Bank of Canada boosted their price target on shares of Comerica from $36.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Wells Fargo & Company lifted their target price on Comerica from $31.00 to $34.00 in a research report on Friday, June 5th. Robert W. Baird raised Comerica from a “neutral” rating to an “outperform” rating and set a $49.00 price target for the company in a research report on Friday, July 10th. Finally, ValuEngine lowered Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $45.25.
CMA opened at $41.18 on Tuesday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 9.92, a P/E/G ratio of 12.92 and a beta of 1.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.88. Comerica has a 12 month low of $24.28 and a 12 month high of $73.43. The firm’s fifty day simple moving average is $39.88 and its 200 day simple moving average is $36.80.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.59. Comerica had a return on equity of 8.22% and a net margin of 17.42%. The business had revenue of $718.00 million for the quarter, compared to analysts’ expectations of $700.17 million. During the same quarter in the previous year, the business posted $1.94 EPS. Comerica’s revenue for the quarter was down 15.8% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.72 annualized dividend and a yield of 6.61%. Comerica’s payout ratio is currently 34.83%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in Comerica by 37.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 967 shares of the financial services provider’s stock worth $37,000 after buying an additional 264 shares during the period. Farr Miller & Washington LLC DC grew its stake in shares of Comerica by 4.6% in the first quarter. Farr Miller & Washington LLC DC now owns 7,481 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 328 shares in the last quarter. Jacobi Capital Management LLC increased its position in Comerica by 117.6% during the second quarter. Jacobi Capital Management LLC now owns 681 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 368 shares during the period. Cerebellum GP LLC acquired a new stake in Comerica in the 2nd quarter worth about $38,000. Finally, M&T Bank Corp grew its position in shares of Comerica by 5.2% during the 1st quarter. M&T Bank Corp now owns 11,304 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 557 shares in the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
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.
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