Comerica Incorporated (NYSE:CMA) – Investment analysts at B.Riley Securit boosted their Q1 2021 earnings per share (EPS) estimates for Comerica in a research report issued to clients and investors on Friday, October 9th. B.Riley Securit analyst S. Moss now anticipates that the financial services provider will post earnings per share of $1.04 for the quarter, up from their prior estimate of $0.90. B.Riley Securit also issued estimates for Comerica’s Q2 2021 earnings at $0.92 EPS, Q3 2021 earnings at $0.97 EPS, Q4 2021 earnings at $0.98 EPS and FY2021 earnings at $3.90 EPS.
A number of other equities research analysts also recently issued reports on CMA. Wolfe Research initiated coverage on Comerica in a research note on Friday, July 31st. They set an “underperform” rating for the company. Robert W. Baird raised shares of Comerica from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a report on Friday, July 10th. Odeon Capital Group raised Comerica from a “sell” rating to a “hold” rating in a report on Monday, September 14th. ValuEngine cut shares of Comerica from a “hold” rating to a “sell” rating in a research note on Tuesday, September 1st. Finally, Zacks Investment Research upgraded Comerica from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a research report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $45.25.
CMA opened at $42.34 on Monday. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 12.67 and a beta of 1.78. The firm has a 50 day moving average price of $39.68 and a 200-day moving average price of $36.50. Comerica has a twelve month low of $24.28 and a twelve month high of $73.43. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. Comerica (NYSE:CMA) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.59. The business had revenue of $718.00 million during the quarter, compared to analyst estimates of $700.17 million. Comerica had a return on equity of 8.22% and a net margin of 17.42%. Comerica’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 EPS.
Several large investors have recently made changes to their positions in CMA. Jacobi Capital Management LLC lifted its holdings in Comerica by 117.6% during the second quarter. Jacobi Capital Management LLC now owns 681 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 368 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Comerica by 1,236.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 842 shares of the financial services provider’s stock worth $32,000 after buying an additional 779 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Comerica during the second quarter valued at approximately $36,000. Parkside Financial Bank & Trust lifted its position in shares of Comerica by 37.6% in the second quarter. Parkside Financial Bank & Trust now owns 967 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 264 shares in the last quarter. Finally, Ellevest Inc. lifted its position in shares of Comerica by 227.9% in the second quarter. Ellevest Inc. now owns 987 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.68 per share. The ex-dividend date was Monday, September 14th. This represents a $2.72 annualized dividend and a yield of 6.42%. Comerica’s payout ratio is presently 34.83%.
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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