Comerica Incorporated (NYSE:CMA) – Research analysts at Piper Sandler increased their Q1 2021 EPS estimates for Comerica in a research note issued to investors on Sunday, September 13th. Piper Sandler analyst R. Siefers now forecasts that the financial services provider will earn $0.94 per share for the quarter, up from their previous estimate 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 announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.59. Comerica had a return on equity of 8.22% and a net margin of 17.42%. The business had revenue of $718.00 million during the quarter, compared to analysts’ expectations of $700.17 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The business’s revenue was down 15.8% compared to the same quarter last year.
Several other equities research analysts have also recently commented on CMA. Odeon Capital Group raised Comerica from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Company increased their price target on Comerica from $31.00 to $34.00 in a report on Friday, June 5th. SunTrust Banks cut their price target on Comerica from $49.00 to $40.00 and set a “hold” rating for the company in a report on Friday, July 24th. Wolfe Research initiated coverage on Comerica in a report on Friday, July 31st. They issued an “underperform” rating for the company. Finally, B. Riley raised Comerica from a “neutral” rating to a “buy” rating and increased their price target for the company from $35.00 to $50.00 in a report on Thursday, June 4th. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Comerica has a consensus rating of “Hold” and a consensus price target of $45.25.
Shares of Comerica stock opened at $40.59 on Wednesday. The business has a 50 day simple moving average of $39.81 and a two-hundred day simple moving average of $36.87. Comerica has a 12 month low of $24.28 and a 12 month high of $73.43. The stock has a market capitalization of $5.70 billion, a P/E ratio of 9.78, a PEG ratio of 12.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.02 and a quick ratio of 1.02.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date is Monday, September 14th. Comerica’s dividend payout ratio is presently 34.83%.
A number of institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp raised its stake in Comerica by 7.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 188,307 shares of the financial services provider’s stock valued at $7,174,000 after buying an additional 12,301 shares in the last quarter. Principal Financial Group Inc. raised its stake in Comerica by 12.0% in the second quarter. Principal Financial Group Inc. now owns 295,161 shares of the financial services provider’s stock valued at $11,246,000 after buying an additional 31,655 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Comerica by 52.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 385,290 shares of the financial services provider’s stock valued at $14,679,000 after buying an additional 131,961 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Comerica by 51.0% in the second quarter. Neuberger Berman Group LLC now owns 1,383,219 shares of the financial services provider’s stock valued at $52,684,000 after buying an additional 467,127 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Comerica in the second quarter valued at $575,000. Institutional investors own 78.55% of the company’s stock.
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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