Comerica Incorporated (NYSE:CMA) – Equities researchers at B. Riley lowered their Q3 2018 EPS estimates for Comerica in a research note issued on Monday, October 15th. B. Riley analyst S. Moss now forecasts that the financial services provider will post earnings of $1.74 per share for the quarter, down from their prior estimate of $1.83. B. Riley currently has a “Buy” rating and a $107.00 target price on the stock. B. Riley also issued estimates for Comerica’s Q4 2018 earnings at $1.90 EPS, FY2018 earnings at $7.07 EPS, Q1 2019 earnings at $1.85 EPS, Q2 2019 earnings at $1.99 EPS, Q3 2019 earnings at $2.16 EPS, Q4 2019 earnings at $2.17 EPS, FY2019 earnings at $8.15 EPS, Q1 2020 earnings at $2.06 EPS, Q2 2020 earnings at $2.23 EPS, Q3 2020 earnings at $2.35 EPS and FY2020 earnings at $9.00 EPS.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.08. Comerica had a net margin of 27.28% and a return on equity of 13.14%. During the same quarter last year, the business posted $1.26 EPS.
NYSE CMA opened at $83.90 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.69. The company has a market cap of $15.46 billion, a P/E ratio of 17.45, a PEG ratio of 0.56 and a beta of 1.42. Comerica has a 1 year low of $74.16 and a 1 year high of $102.66.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Thursday, September 13th. This is a positive change from Comerica’s previous quarterly dividend of $0.34. Comerica’s payout ratio is 50.74%.
In other news, EVP Christine M. Moore sold 4,800 shares of Comerica stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total transaction of $472,368.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.83% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Comerica by 31.7% during the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after purchasing an additional 1,204,882 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Comerica by 61.5% during the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after purchasing an additional 491,843 shares during the period. FMR LLC lifted its holdings in shares of Comerica by 31.5% during the second quarter. FMR LLC now owns 1,074,432 shares of the financial services provider’s stock worth $97,687,000 after purchasing an additional 257,581 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Comerica by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,059,199 shares of the financial services provider’s stock worth $96,303,000 after buying an additional 4,136 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Comerica by 26,511.7% during the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 982,787 shares during the last quarter. Institutional investors own 81.32% of the company’s stock.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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