Comerica Incorporated (NYSE:CMA) – DA Davidson issued their Q1 2022 EPS estimates for shares of Comerica in a note issued to investors on Thursday, January 20th. DA Davidson analyst G. Tenner expects that the financial services provider will earn $1.41 per share for the quarter. DA Davidson also issued estimates for Comerica’s FY2022 earnings at $5.92 EPS and FY2023 earnings at $6.89 EPS.
Several other analysts have also recently commented on the company. Jefferies Financial Group raised their target price on Comerica from $75.00 to $86.00 and gave the company a “hold” rating in a research report on Monday, October 11th. Compass Point raised Comerica from a “sell” rating to a “neutral” rating and set a $87.00 price target for the company in a research note on Tuesday, December 21st. Bank of America raised Comerica from an “underperform” rating to a “neutral” rating and increased their price target for the company from $88.00 to $105.00 in a research note on Thursday, January 6th. B. Riley increased their price target on Comerica from $87.00 to $100.00 in a research note on Wednesday, January 12th. Finally, Royal Bank of Canada raised their price objective on Comerica from $103.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $97.14.
CMA opened at $89.70 on Friday. Comerica has a 12 month low of $55.87 and a 12 month high of $102.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $11.76 billion, a P/E ratio of 11.02, a P/E/G ratio of 0.55 and a beta of 1.48. The stock’s 50 day moving average price is $88.97 and its 200 day moving average price is $80.85.
Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 19th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Comerica had a return on equity of 15.22% and a net margin of 38.31%. During the same period in the previous year, the company posted $1.49 EPS.
The company also recently announced a quarterly dividend, which was paid on Saturday, January 1st. Investors of record on Wednesday, December 15th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.03%. Comerica’s dividend payout ratio is presently 33.42%.
In other news, EVP Jay K. Oberg sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $88.66, for a total value of $461,032.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John D. Buchanan sold 5,688 shares of the business’s stock in a transaction that occurred on Thursday, October 28th. The shares were sold at an average price of $85.11, for a total transaction of $484,105.68. The disclosure for this sale can be found here. Insiders have sold 14,884 shares of company stock valued at $1,307,276 in the last three months. 0.67% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of CMA. Global Retirement Partners LLC boosted its position in Comerica by 79.8% during the 4th quarter. Global Retirement Partners LLC now owns 577 shares of the financial services provider’s stock valued at $50,000 after buying an additional 256 shares during the period. Huntington National Bank increased its stake in shares of Comerica by 73.4% in the 4th quarter. Huntington National Bank now owns 5,187 shares of the financial services provider’s stock worth $452,000 after acquiring an additional 2,196 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Comerica by 206.7% in the 4th quarter. Russell Investments Group Ltd. now owns 52,535 shares of the financial services provider’s stock worth $4,567,000 after acquiring an additional 35,407 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new position in shares of Comerica in the 4th quarter worth about $209,000. Finally, Concord Wealth Partners grew its position in Comerica by 191.8% during the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 188 shares during the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.
About Comerica
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment is involved in middle market businesses, multinational corporations, and governmental entities by offering 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 services, and loan syndication services.
See Also: Cryptocurrencies
Want More Great Investing Ideas?
