Comerica Incorporated (NYSE:CMA) – Wedbush issued their Q1 2018 earnings per share (EPS) estimates for Comerica in a research report issued to clients and investors on Tuesday. Wedbush analyst P. Winter expects that the financial services provider will earn $1.50 per share for the quarter. Wedbush has a “Neutral” rating and a $97.00 price target on the stock. Wedbush also issued estimates for Comerica’s Q2 2018 earnings at $1.62 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.55 EPS and FY2019 earnings at $7.23 EPS.
Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Nomura upped their price objective on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. DA Davidson reiterated a “hold” rating and issued a $81.00 price objective on shares of Comerica in a report on Wednesday, October 18th. Finally, Citigroup reiterated a “sell” rating and issued a $69.00 price objective (up from $65.00) on shares of Comerica in a report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Comerica has a consensus rating of “Hold” and an average price target of $92.37.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The firm had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. During the same period in the prior year, the firm posted $0.92 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. Comerica’s dividend payout ratio (DPR) is presently 28.99%.
In related news, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CMA. AXA grew its stake in shares of Comerica by 1.0% in the second quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 200 shares in the last quarter. Norinchukin Bank The grew its stake in shares of Comerica by 13.1% in the second quarter. Norinchukin Bank The now owns 6,987 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 807 shares in the last quarter. Amalgamated Bank grew its stake in shares of Comerica by 62.6% in the second quarter. Amalgamated Bank now owns 19,854 shares of the financial services provider’s stock valued at $1,454,000 after acquiring an additional 7,643 shares in the last quarter. BlueMountain Capital Management LLC grew its stake in shares of Comerica by 423.8% in the second quarter. BlueMountain Capital Management LLC now owns 6,590 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 5,332 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Comerica by 4.8% in the second quarter. ProShare Advisors LLC now owns 42,469 shares of the financial services provider’s stock valued at $3,110,000 after acquiring an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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