Comerica Incorporated (NYSE:CMA) – Investment analysts at B. Riley upped their Q1 2018 earnings per share estimates for shares of Comerica in a research note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $1.55 per share for the quarter, up from their previous estimate of $1.34. B. Riley has a “Buy” rating and a $84.00 price target on the stock. B. Riley also issued estimates for Comerica’s Q2 2018 earnings at $1.57 EPS.
Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $79.00 price objective on shares of Comerica in a research note on Friday, September 22nd. FBR & Co reiterated a “buy” rating and set a $84.00 price objective (up previously from $79.00) on shares of Comerica in a research note on Tuesday, October 17th. Piper Jaffray Companies reiterated a “buy” rating on shares of Comerica in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, December 11th. Finally, Instinet upgraded shares of Comerica from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Comerica has an average rating of “Hold” and a consensus target price of $87.07.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The business had revenue of $821.00 million for the quarter, compared to analyst estimates of $812.83 million. During the same quarter last year, the business earned $0.84 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, December 14th. Comerica’s payout ratio is 27.21%.
In related news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. IBM Retirement Fund acquired a new position in Comerica in the 3rd quarter worth approximately $200,000. Zeke Capital Advisors LLC acquired a new position in Comerica in the 3rd quarter worth approximately $200,000. BB&T Corp acquired a new position in Comerica in the 3rd quarter worth approximately $206,000. Marshall Wace North America L.P. acquired a new position in Comerica in the 2nd quarter worth approximately $208,000. Finally, Visionary Asset Management Inc. acquired a new position in Comerica in the 3rd quarter worth approximately $218,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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