Comerica Inc (NYSE:CMA) – Analysts at B. Riley boosted their Q2 2018 earnings per share estimates for shares of Comerica in a research report issued to clients and investors on Wednesday, April 18th. B. Riley analyst S. Moss now expects that the financial services provider will earn $1.70 per share for the quarter, up from their prior estimate of $1.66. B. Riley currently has a “Buy” rating and a $110.00 price objective on the stock. B. Riley also issued estimates for Comerica’s Q3 2018 earnings at $1.87 EPS, Q4 2018 earnings at $1.89 EPS, FY2018 earnings at $7.00 EPS and FY2019 earnings at $7.95 EPS.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, April 17th. The financial services provider reported $1.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.02). Comerica had a net margin of 24.37% and a return on equity of 12.05%. The company had revenue of $793.00 million during the quarter, compared to the consensus estimate of $811.59 million. During the same quarter in the previous year, the company earned $1.11 earnings per share.
Shares of CMA stock opened at $95.49 on Friday. Comerica has a one year low of $64.04 and a one year high of $102.66. The company has a market capitalization of $16,424.18, a P/E ratio of 20.19, a P/E/G ratio of 1.01 and a beta of 1.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Comerica by 2.2% in the 4th quarter. BlackRock Inc. now owns 11,882,946 shares of the financial services provider’s stock valued at $1,031,560,000 after buying an additional 255,109 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Comerica by 17.0% in the 4th 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 buying an additional 415,034 shares during the last quarter. Teachers Advisors LLC raised its position in Comerica by 4.6% in the 4th quarter. Teachers Advisors LLC now owns 2,004,578 shares of the financial services provider’s stock valued at $174,017,000 after buying an additional 87,509 shares during the last quarter. Bank of New York Mellon Corp raised its position in Comerica by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,951,330 shares of the financial services provider’s stock valued at $169,396,000 after buying an additional 113,366 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Comerica by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,910,721 shares of the financial services provider’s stock valued at $165,526,000 after buying an additional 21,862 shares during the last quarter. 83.09% of the stock is currently owned by institutional investors.
In other news, EVP Megan D. Burkhart sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $94.80, for a total transaction of $284,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph W. Babb, Jr. sold 65,300 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $97.61, for a total value of $6,373,933.00. The disclosure for this sale can be found here. Insiders have sold 210,506 shares of company stock worth $20,468,762 over the last ninety days. 0.83% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Wednesday, March 14th. Comerica’s payout ratio is 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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