Comerica Inc. (NYSE:CMA) is scheduled to post its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect Comerica to post earnings of $0.73 per share and revenue of $722.01 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. On average, analysts expect Comerica to post $2.41 EPS for the current fiscal year and $3.40 EPS for the next fiscal year.
Shares of Comerica Inc. (NYSE:CMA) opened at 48.40 on Monday. The firm has a 50-day moving average of $47.25 and a 200 day moving average of $44.18. The stock has a market capitalization of $8.42 billion, a PE ratio of 21.02 and a beta of 1.36. Comerica Inc. has a 1-year low of $30.48 and a 1-year high of $49.75.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th were paid a $0.23 dividend. This is a positive change from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, September 13th. Comerica’s dividend payout ratio is currently 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total value of $105,707.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Teachers Advisors Inc. increased its stake in shares of Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock worth $67,858,000 after buying an additional 679,830 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Comerica by 61.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 930,267 shares of the financial services provider’s stock worth $38,262,000 after buying an additional 354,369 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Comerica by 709.9% in the second quarter. Lord Abbett & CO. LLC now owns 351,478 shares of the financial services provider’s stock worth $14,456,000 after buying an additional 308,078 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Comerica by 13.3% in the second quarter. TIAA CREF Investment Management LLC now owns 2,192,513 shares of the financial services provider’s stock worth $90,178,000 after buying an additional 257,201 shares during the period. Finally, 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 worth $159,737,000 after buying an additional 176,177 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CMA. Deutsche Bank AG upped their price target on shares of Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, October 11th. FBR & Co lowered shares of Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 price target for the company. in a research note on Tuesday, October 11th. Wedbush began coverage on shares of Comerica in a research note on Thursday, October 6th. They issued a “neutral” rating and a $49.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Comerica in a research note on Wednesday, October 12th. Finally, Zacks Investment Research raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $45.04.
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.
Receive News & Ratings for Comerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica Inc. and related companies with MarketBeat.com's FREE daily email newsletter.