Comerica Incorporated (NYSE:CMA) – Equities research analysts at Jefferies Financial Group upped their Q1 2021 earnings estimates for shares of Comerica in a report issued on Wednesday, January 20th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings of $1.51 per share for the quarter, up from their previous estimate of $1.28. Jefferies Financial Group also issued estimates for Comerica’s Q2 2021 earnings at $1.50 EPS, FY2021 earnings at $5.70 EPS and FY2022 earnings at $4.85 EPS.
Comerica (NYSE:CMA) last announced its earnings results on Monday, January 18th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same period in the previous year, the business earned $1.85 EPS.
CMA has been the topic of several other reports. Morgan Stanley increased their price target on shares of Comerica from $54.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 7th. B. Riley lifted their target price on Comerica from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird downgraded Comerica from an “outperform” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, January 13th. DA Davidson lifted their target price on Comerica from $50.00 to $62.00 in a research report on Wednesday. Finally, Barclays lifted their target price on Comerica from $43.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, January 4th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Comerica presently has an average rating of “Hold” and an average price target of $48.53.
CMA opened at $62.16 on Friday. The company’s 50 day moving average is $57.23 and its 200 day moving average is $45.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.77. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 17.12 and a beta of 1.67. Comerica has a 12-month low of $24.28 and a 12-month high of $66.36.
Several hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in shares of Comerica in the fourth quarter worth about $202,000. Gateway Investment Advisers LLC increased its holdings in shares of Comerica by 1.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 29,222 shares of the financial services provider’s stock worth $1,632,000 after purchasing an additional 327 shares during the last quarter. First Midwest Bank Trust Division bought a new stake in shares of Comerica in the fourth quarter worth about $302,000. Contravisory Investment Management Inc. bought a new stake in shares of Comerica in the fourth quarter worth about $514,000. Finally, Fruth Investment Management bought a new stake in shares of Comerica in the fourth quarter worth about $622,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Jay K. Oberg sold 1,500 shares of Comerica stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $53.69, for a total value of $80,535.00. Insiders own 0.55% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, January 1st. Stockholders of record on Tuesday, December 15th were issued a $0.68 dividend. The ex-dividend date was Monday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 4.38%. Comerica’s dividend payout ratio (DPR) is 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 for small and middle market businesses, multinational corporations, and governmental entities.
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