Comerica Incorporated (NYSE:CMA) – Piper Sandler upped their Q1 2021 EPS estimates for Comerica in a report issued on Sunday, September 13th. Piper Sandler analyst R. Siefers now expects that the financial services provider will post earnings of $0.94 per share for the quarter, up from their previous forecast of $0.93. Piper Sandler also issued estimates for Comerica’s Q2 2021 earnings at $0.93 EPS, Q3 2021 earnings at $0.94 EPS, Q4 2021 earnings at $0.93 EPS and FY2021 earnings at $3.74 EPS.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.59. The company had revenue of $718.00 million for the quarter, compared to analyst estimates of $700.17 million. Comerica had a return on equity of 8.22% and a net margin of 17.42%. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share.
NYSE CMA opened at $40.59 on Wednesday. The stock’s fifty day moving average is $39.81 and its two-hundred day moving average is $36.87. The firm has a market capitalization of $5.70 billion, a P/E ratio of 9.78, a price-to-earnings-growth ratio of 12.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.02 and a current ratio of 1.02. Comerica has a fifty-two week low of $24.28 and a fifty-two week high of $73.43.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. APG Asset Management N.V. boosted its position in shares of Comerica by 461.5% in the 1st quarter. APG Asset Management N.V. now owns 911,910 shares of the financial services provider’s stock valued at $59,546,000 after purchasing an additional 749,490 shares during the period. New Mexico Educational Retirement Board boosted its holdings in shares of Comerica by 6.6% in the second quarter. New Mexico Educational Retirement Board now owns 9,664 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 600 shares during the period. Busey Wealth Management purchased a new position in shares of Comerica during the second quarter worth approximately $257,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Comerica in the 2nd quarter valued at $221,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Comerica by 29.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,006 shares of the financial services provider’s stock valued at $5,164,000 after purchasing an additional 40,508 shares during the last quarter. Institutional investors and hedge funds own 78.55% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.68 dividend. The ex-dividend date is Monday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.70%. Comerica’s payout ratio is currently 34.83%.
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 middle market businesses, multinational corporations, and governmental entities.
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