Comerica (CMA) Set to Announce Quarterly Earnings on Thursday

Comerica (NYSE:CMA) will post its quarterly earnings results before the market opens on Thursday, April 18th. Analysts expect Comerica to post earnings of $1.12 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the previous year, the firm earned $2.58 EPS. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Comerica Stock Performance

Shares of Comerica stock opened at $50.00 on Wednesday. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 7.76 and a beta of 1.27. The firm’s 50-day moving average is $51.39 and its 200 day moving average is $49.13. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Thursday, March 14th. Comerica’s payout ratio is presently 44.10%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CMA shares. Morgan Stanley raised their price target on shares of Comerica from $45.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. DA Davidson restated a “neutral” rating and set a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Jefferies Financial Group decreased their target price on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Finally, UBS Group restated a “neutral” rating and set a $59.00 target price (down previously from $66.00) on shares of Comerica in a research note on Thursday, April 4th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average target price of $57.67.

Insiders Place Their Bets

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Comerica during the fourth quarter worth $26,000. Chilton Capital Management LLC acquired a new position in Comerica in the first quarter valued at about $28,000. Almanack Investment Partners LLC. acquired a new position in Comerica in the third quarter valued at about $38,000. Parkside Financial Bank & Trust boosted its position in shares of Comerica by 25.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock worth $49,000 after buying an additional 231 shares during the period. Finally, Money Concepts Capital Corp acquired a new position in shares of Comerica during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, 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.