Comerica Inc. (NYSE:CMA) announced its earnings results on Tuesday. The financial services provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%.
Shares of Comerica (NYSE:CMA) opened at 48.06 on Tuesday. The company has a market cap of $8.36 billion, a PE ratio of 20.87 and a beta of 1.36. Comerica has a one year low of $30.48 and a one year high of $49.75. The firm’s 50-day moving average is $47.28 and its 200-day moving average is $44.34.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were issued a dividend of $0.23 per share. This is a boost from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.91%. Comerica’s payout ratio is presently 38.82%.
Several brokerages have commented on CMA. Wedbush began coverage on Comerica in a report on Thursday, October 6th. They set a “neutral” rating and a $49.00 target price on the stock. Compass Point lifted their target price on Comerica from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Zacks Investment Research raised Comerica from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. FBR & Co lifted their target price on Comerica from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 20th. Finally, Nomura reaffirmed a “hold” rating on shares of Comerica in a report on Saturday, July 9th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. Comerica has a consensus rating of “Hold” and a consensus price target of $45.04.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in CMA. American Century Companies Inc. increased its stake in shares of Comerica by 4.8% in the second quarter. American Century Companies Inc. now owns 3,883,718 shares of the financial services provider’s stock valued at $159,737,000 after buying an additional 176,177 shares during the period. BlackRock Investment Management LLC increased its stake in shares of Comerica by 0.3% in the second quarter. BlackRock Investment Management LLC now owns 376,992 shares of the financial services provider’s stock valued at $15,506,000 after buying an additional 1,116 shares during the period. BlackRock Inc. increased its stake in shares of Comerica by 13.5% in the second quarter. BlackRock Inc. now owns 348,850 shares of the financial services provider’s stock valued at $14,348,000 after buying an additional 41,415 shares during the period. BlackRock Fund Advisors increased its stake in shares of Comerica by 1.0% in the second quarter. BlackRock Fund Advisors now owns 2,904,438 shares of the financial services provider’s stock valued at $119,460,000 after buying an additional 28,125 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Comerica by 0.3% in the second quarter. BlackRock Group LTD now owns 1,345,086 shares of the financial services provider’s stock valued at $55,323,000 after buying an additional 4,523 shares during the period. 84.59% of the stock is owned by institutional investors and hedge funds.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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