Comerica (NYSE:CMA) Releases Earnings Results, Misses Estimates By $0.07 EPS

Comerica (NYSE:CMA) released its quarterly earnings results on Wednesday. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07), Morningstar.com reports. The firm had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $859.09 million. Comerica had a return on equity of 16.92% and a net margin of 33.29%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.87 earnings per share.

NYSE:CMA opened at $70.67 on Friday. 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 simple moving average is $70.93. The company has a market capitalization of $10.69 billion, a PE ratio of 9.76, a PEG ratio of 1.26 and a beta of 1.44. Comerica has a 52 week low of $63.69 and a 52 week high of $100.64.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.68 dividend on an annualized basis and a yield of 3.79%. Comerica’s dividend payout ratio is presently 37.02%.

A number of equities analysts have recently issued reports on CMA shares. Jefferies Financial Group set a $158.00 price target on HCA Healthcare and gave the stock a “buy” rating in a research note on Wednesday, April 17th. B. Riley set a $75.00 price target on Comerica and gave the stock a “hold” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. dropped their price target on Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. Citigroup upgraded Infosys from a “neutral” rating to a “buy” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets dropped their price target on Comerica to $78.00 and set a “market perform” rating on the stock in a research note on Thursday. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $86.33.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through this link. 0.98% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Trust Department MB Financial Bank N A increased its holdings in shares of Comerica by 64.3% in the first quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Comerica in the fourth quarter worth about $26,000. CWM LLC increased its holdings in shares of Comerica by 247.5% in the first quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 302 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Comerica in the first quarter worth about $35,000. Finally, Executive Wealth Management LLC bought a new stake in shares of Comerica in the fourth quarter worth about $36,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Closed-End Mutual Funds (CEFs)

Earnings History for Comerica (NYSE:CMA)

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