Comerica Inc. (NYSE:CMA) – Investment analysts at Jefferies Group issued their Q1 2017 earnings estimates for shares of Comerica in a report issued on Tuesday. Jefferies Group analyst K. Usdin expects that the brokerage will post earnings per share of $0.83 for the quarter. Jefferies Group also issued estimates for Comerica’s Q2 2017 earnings at $0.88 EPS, Q3 2017 earnings at $0.92 EPS, Q4 2017 earnings at $0.97 EPS and FY2018 earnings at $4.05 EPS.
Several other research firms also recently commented on CMA. Zacks Investment Research downgraded Comerica from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Bank of America Corp. downgraded Comerica from a “neutral” rating to an “underperform” rating and raised their price target for the company from $30.48 to $36.00 in a report on Wednesday, June 29th. Goldman Sachs Group Inc. raised Comerica from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a report on Friday, September 16th. FBR & Co downgraded Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a report on Tuesday. Finally, Credit Agricole SA raised their price target on Comerica from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.04.
Shares of Comerica (NYSE:CMA) traded down 1.81% during midday trading on Thursday, hitting $47.73. 898,989 shares of the stock traded hands. Comerica has a 1-year low of $30.48 and a 1-year high of $49.75. The stock has a 50 day moving average of $47.12 and a 200 day moving average of $44.08. The company has a market capitalization of $8.30 billion, a P/E ratio of 20.73 and a beta of 1.36.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were paid a $0.23 dividend. This is a positive change from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, September 13th. Comerica’s payout ratio is currently 38.82%.
In related news, insider Paul R. Obermeyer sold 2,302 shares of Comerica stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $45.92, for a total value of $105,707.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Comerica during the second quarter worth $58,616,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Comerica by 440.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,678,296 shares of the financial services provider’s stock worth $63,557,000 after buying an additional 1,367,896 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock worth $67,858,000 after buying an additional 679,830 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Comerica during the second quarter worth $27,375,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Comerica by 39.7% in the second quarter. Bank of New York Mellon Corp now owns 2,278,685 shares of the financial services provider’s stock worth $93,722,000 after buying an additional 647,477 shares during the last quarter. 84.59% of the stock is currently owned by institutional investors.
Comerica Company Profile
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.
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