Comerica Inc (NYSE:CMA) – Investment analysts at Jefferies Group boosted their Q1 2018 earnings per share (EPS) estimates for shares of Comerica in a research note issued on Wednesday, April 4th. Jefferies Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $1.62 per share for the quarter, up from their previous estimate of $1.45. Jefferies Group also issued estimates for Comerica’s FY2018 earnings at $6.90 EPS and FY2019 earnings at $7.80 EPS.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. The firm had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same period in the prior year, the firm earned $0.92 EPS.
NYSE CMA opened at $94.92 on Friday. The firm has a market cap of $16,716.23, a PE ratio of 20.07, a PEG ratio of 1.45 and a beta of 1.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 1-year low of $64.04 and a 1-year high of $102.66.
A number of large investors have recently bought and sold shares of CMA. Rockefeller Financial Services Inc. raised its holdings in Comerica by 14,008.7% during the fourth quarter. Rockefeller Financial Services Inc. now owns 1,446,003 shares of the financial services provider’s stock valued at $125,527,000 after acquiring an additional 1,435,754 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Comerica by 17.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,855,255 shares of the financial services provider’s stock valued at $247,865,000 after acquiring an additional 415,034 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Comerica by 41.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,370,278 shares of the financial services provider’s stock valued at $118,954,000 after acquiring an additional 399,618 shares during the period. Strycker View Capital LLC purchased a new position in shares of Comerica during the fourth quarter valued at about $24,003,000. Finally, BlackRock Inc. grew its position in shares of Comerica by 2.2% during the fourth quarter. BlackRock Inc. now owns 11,882,946 shares of the financial services provider’s stock valued at $1,031,560,000 after purchasing an additional 255,109 shares in the last quarter. 83.05% of the stock is currently owned by institutional investors and hedge funds.
In other Comerica news, CEO Ralph W. Babb, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $95.25, for a total transaction of $4,762,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael T. Ritchie sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $99.45, for a total value of $397,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,006 shares of company stock worth $26,250,992. Insiders own 0.83% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. Comerica’s dividend payout ratio is presently 25.37%.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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