Comerica Incorporated (NYSE:CMA) – Stock analysts at Wedbush boosted their Q3 2020 earnings estimates for Comerica in a research report issued on Sunday, September 13th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings of $0.93 per share for the quarter, up from their prior forecast of $0.88. Wedbush has a “Outperform” rating and a $54.00 price objective on the stock. Wedbush also issued estimates for Comerica’s Q4 2020 earnings at $0.92 EPS, FY2020 earnings at $2.19 EPS, Q1 2021 earnings at $0.87 EPS, Q2 2021 earnings at $0.86 EPS, Q3 2021 earnings at $0.96 EPS and FY2021 earnings at $3.69 EPS.
CMA has been the topic of several other research reports. Wolfe Research began coverage on shares of Comerica in a report on Friday, July 31st. They set an “underperform” rating on the stock. ValuEngine downgraded Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st. SunTrust Banks reduced their price target on Comerica from $49.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Bank of America reduced their target price on shares of Comerica from $47.00 to $45.00 and set an “underperform” rating on the stock in a research report on Friday, July 10th. Finally, Barclays raised their price target on shares of Comerica from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. Comerica currently has an average rating of “Hold” and an average target price of $45.25.
CMA opened at $41.18 on Tuesday. Comerica has a 52-week low of $24.28 and a 52-week high of $73.43. The company has a 50 day moving average of $39.88 and a two-hundred day moving average of $36.80. The company has a market cap of $5.73 billion, a P/E ratio of 9.92, a P/E/G ratio of 12.92 and a beta of 1.81. 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, beating the Zacks’ consensus estimate of $0.21 by $0.59. The firm had revenue of $718.00 million for the quarter, compared to analysts’ expectations of $700.17 million. Comerica had a return on equity of 8.22% and a net margin of 17.42%. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 earnings per share.
A number of hedge funds have recently bought and sold shares of CMA. Jacobi Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 368 shares during the period. Valeo Financial Advisors LLC grew its position in Comerica by 1,236.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 842 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 779 shares during the last quarter. Private Advisor Group LLC bought a new position in Comerica in the 2nd quarter worth about $36,000. Parkside Financial Bank & Trust increased its stake 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 purchasing an additional 264 shares during the period. Finally, Ellevest Inc. raised its holdings in shares of Comerica by 227.9% during the second quarter. Ellevest Inc. now owns 987 shares of the financial services provider’s stock valued at $38,000 after buying an additional 686 shares during the last quarter. Institutional investors own 78.55% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 6.61%. The ex-dividend date is Monday, September 14th. Comerica’s dividend 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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