Comerica Incorporated (NYSE:CMA) – Equities research analysts at SunTrust Banks dropped their Q2 2019 EPS estimates for shares of Comerica in a report issued on Thursday, June 27th, Zacks Investment Research reports. SunTrust Banks analyst J. Demba now forecasts that the financial services provider will post earnings per share of $2.00 for the quarter, down from their prior forecast of $2.02. SunTrust Banks also issued estimates for Comerica’s Q3 2019 earnings at $2.08 EPS, Q4 2019 earnings at $2.10 EPS, Q1 2020 earnings at $2.08 EPS, Q2 2020 earnings at $2.11 EPS, Q3 2020 earnings at $2.15 EPS, Q4 2020 earnings at $2.19 EPS and FY2020 earnings at $8.53 EPS.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.07). Comerica had a return on equity of 16.92% and a net margin of 33.29%. The company had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $859.09 million. During the same quarter last year, the company earned $1.87 EPS. Comerica’s revenue for the quarter was up 1.8% compared to the same quarter last year.
A number of other research analysts also recently commented on CMA. Jefferies Financial Group set a $158.00 price objective on HCA Healthcare and gave the company a “buy” rating in a report on Wednesday, April 17th. B. Riley set a $75.00 price objective on Comerica and gave the company a “hold” rating in a report on Thursday, July 11th. Raymond James downgraded First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Bank of America set a $97.00 price objective on Merck & Co., Inc. and gave the company a “buy” rating in a report on Thursday, July 11th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.
Shares of CMA traded up $1.33 during mid-day trading on Friday, reaching $70.67. The company’s stock had a trading volume of 3,435,718 shares, compared to its average volume of 1,901,850. Comerica has a 12-month low of $63.69 and a 12-month high of $100.64. The firm has a market capitalization of $10.89 billion, a PE ratio of 9.76, a PEG ratio of 1.29 and a beta of 1.44. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average price is $70.93.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a dividend of $0.67 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.68 dividend on an annualized basis and a yield of 3.79%. Comerica’s payout ratio is 37.02%.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Trust Department MB Financial Bank N A lifted its position in Comerica by 64.3% during the 1st quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 135 shares during the period. Liberty Wealth Management LLC acquired a new stake in Comerica during the 4th quarter worth approximately $26,000. Claybrook Capital LLC acquired a new stake in Comerica during the 4th quarter worth approximately $29,000. CWM LLC raised its stake in shares of Comerica by 247.5% during the 1st quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after buying an additional 302 shares in the last quarter. Finally, Pier 88 Investment Partners LLC raised its stake in shares of Comerica by 56.7% during the 4th quarter. Pier 88 Investment Partners LLC now owns 470 shares of the financial services provider’s stock worth $32,000 after buying an additional 170 shares in the last quarter. 83.46% of the stock is owned by institutional investors.
About Comerica
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.