Comerica Incorporated (NYSE:CMA) – Jefferies Financial Group increased their Q2 2019 earnings per share (EPS) estimates for Comerica in a report released on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings of $2.02 per share for the quarter, up from their previous forecast of $2.00. Jefferies Financial Group currently has a “Hold” rating and a $84.00 price target on the stock. Jefferies Financial Group also issued estimates for Comerica’s FY2019 earnings at $8.12 EPS.
Several other analysts also recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. DA Davidson cut their price objective on shares of Comerica from $87.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Bank of America set a $97.00 price objective on shares of Merck & Co., Inc. and gave the company a “buy” rating in a research report on Thursday. Finally, Goldman Sachs Group downgraded shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and increased their price objective for the company from $9.20 to $9.30 in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. Comerica currently has an average rating of “Hold” and a consensus target price of $87.05.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.15. Comerica had a net margin of 34.75% and a return on equity of 16.95%. The company had revenue of $852.00 million for the quarter, compared to the consensus estimate of $852.88 million. During the same period in the prior year, the firm posted $1.59 EPS. Comerica’s revenue for the quarter was up 7.4% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Comerica by 166.2% in the 1st quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock worth $262,602,000 after purchasing an additional 2,236,331 shares during the period. Geode Capital Management LLC lifted its stake in shares of Comerica by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock worth $152,960,000 after purchasing an additional 76,845 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Comerica by 133.4% in the 4th quarter. Two Sigma Advisers LP now owns 1,848,949 shares of the financial services provider’s stock worth $127,004,000 after purchasing an additional 1,056,658 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Comerica by 15.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,477,968 shares of the financial services provider’s stock worth $108,365,000 after purchasing an additional 202,136 shares during the period. Finally, Norges Bank bought a new position in shares of Comerica in the 4th quarter worth approximately $89,893,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
In other news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $73.49, for a total transaction of $235,168.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 13th. Comerica’s payout ratio is presently 37.02%.
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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