Comerica (NYSE:CMA) released its quarterly earnings results on Monday. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30, Briefing.com reports. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same quarter last year, the business posted $1.85 earnings per share.
CMA traded down $0.07 on Wednesday, hitting $63.83. The company had a trading volume of 18,562 shares, compared to its average volume of 1,539,672. The company has a market cap of $8.88 billion, a PE ratio of 17.58 and a beta of 1.67. Comerica has a 12-month low of $24.28 and a 12-month high of $67.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $56.56 and its 200 day simple moving average is $45.40.
The company also recently announced a quarterly dividend, which was paid on Friday, January 1st. Stockholders of record on Tuesday, December 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 4.26%. Comerica’s dividend payout ratio (DPR) is 34.83%.
Several analysts recently weighed in on the company. Truist upped their price target on Comerica from $40.00 to $45.00 in a research note on Thursday, October 22nd. Robert W. Baird downgraded Comerica from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Wednesday, January 13th. Stephens upgraded Comerica from an “equal weight” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Thursday, December 17th. Raymond James raised their price target on Comerica from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Compass Point downgraded Comerica from a “neutral” rating to a “sell” rating and raised their price target for the stock from $44.00 to $46.00 in a research note on Tuesday, November 10th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.85.
In related news, EVP Jay K. Oberg sold 1,500 shares of Comerica stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $53.69, for a total value of $80,535.00. Company insiders own 0.55% of the company’s stock.
Comerica Company Profile
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 for small and middle market businesses, multinational corporations, and governmental entities.
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