DA Davidson Research Analysts Lift Earnings Estimates for Comerica Inc (CMA)

Comerica Inc (NYSE:CMA) – Analysts at DA Davidson raised their FY2019 earnings estimates for Comerica in a research report issued to clients and investors on Tuesday, April 17th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $7.44 for the year, up from their prior forecast of $7.16. DA Davidson has a “Hold” rating and a $100.00 price target on the stock.

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Comerica (NYSE:CMA) last posted its earnings results on Tuesday, April 17th. The financial services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.02). Comerica had a return on equity of 12.05% and a net margin of 24.37%. The business had revenue of $793.00 million for the quarter, compared to the consensus estimate of $811.59 million. During the same period in the previous year, the firm earned $1.11 earnings per share.

Other research analysts have also recently issued reports about the stock. Vining Sparks restated a “buy” rating and set a $97.50 price target on shares of Comerica in a report on Monday, January 8th. Nomura upgraded shares of Comerica from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $106.00 in a report on Friday, January 5th. Instinet upgraded shares of Comerica from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Royal Bank of Canada restated a “buy” rating and set a $103.00 price target on shares of Comerica in a report on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $101.00 price target on shares of Comerica in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. Comerica currently has an average rating of “Hold” and an average target price of $96.10.

Comerica stock opened at $93.28 on Thursday. Comerica has a fifty-two week low of $64.04 and a fifty-two week high of $102.66. The stock has a market cap of $16,026.70, a P/E ratio of 17.70, a PEG ratio of 1.37 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.00 and a current ratio of 1.02.

The company also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Investors of record on Thursday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 25.37%.

In related news, President Curtis C. Farmer sold 18,870 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $96.08, for a total transaction of $1,813,029.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Megan D. Burkhart sold 4,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total transaction of $463,264.00. The disclosure for this sale can be found here. Insiders have sold a total of 210,506 shares of company stock worth $20,468,762 in the last ninety days. 0.83% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Comerica by 30.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,236 shares of the financial services provider’s stock worth $3,049,000 after acquiring an additional 8,154 shares during the period. Wealthfront Inc. increased its holdings in Comerica by 11.0% during the 4th quarter. Wealthfront Inc. now owns 13,928 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 1,377 shares during the period. Toronto Dominion Bank increased its holdings in Comerica by 12.4% during the 4th quarter. Toronto Dominion Bank now owns 75,032 shares of the financial services provider’s stock worth $6,513,000 after acquiring an additional 8,262 shares during the period. Lazard Asset Management LLC increased its holdings in Comerica by 3.8% during the 4th quarter. Lazard Asset Management LLC now owns 566,899 shares of the financial services provider’s stock worth $49,211,000 after acquiring an additional 20,506 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Comerica by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock worth $75,956,000 after buying an additional 31,136 shares during the last quarter. 83.09% of the stock is currently owned by institutional investors and hedge funds.

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About Comerica

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.

Earnings History and Estimates for Comerica (NYSE:CMA)

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