Comerica Incorporated (NYSE:CMA – Get Rating) – Jefferies Financial Group boosted their Q1 2022 earnings estimates for shares of Comerica in a research report issued to clients and investors on Monday, April 11th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $1.36 for the quarter, up from their previous forecast of $1.35. Jefferies Financial Group currently has a “Buy” rating and a $114.00 target price on the stock.
Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.05. Comerica had a net margin of 38.62% and a return on equity of 15.47%. The company had revenue of $750.00 million for the quarter, compared to analysts’ expectations of $733.98 million. During the same period last year, the company earned $1.49 EPS.
Comerica stock opened at $87.99 on Tuesday. Comerica has a 12-month low of $63.07 and a 12-month high of $102.09. The stock has a market capitalization of $11.53 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.88 and a beta of 1.35. The firm’s 50-day moving average is $93.32 and its two-hundred day moving average is $89.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.92.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Tuesday, March 15th were paid a dividend of $0.68 per share. The ex-dividend date was Monday, March 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.09%. Comerica’s dividend payout ratio is currently 32.73%.
In other news, EVP Wendy Bridges sold 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $93.78, for a total transaction of $103,158.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christine M. Moore sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $93.90, for a total transaction of $258,225.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in shares of Comerica by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 4,180 shares of the financial services provider’s stock worth $364,000 after buying an additional 129 shares in the last quarter. Bailard Inc. boosted its holdings in Comerica by 3.6% in the fourth quarter. Bailard Inc. now owns 4,156 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 146 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Comerica by 3.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,105 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 147 shares during the period. M&T Bank Corp boosted its holdings in Comerica by 1.8% in the third quarter. M&T Bank Corp now owns 8,549 shares of the financial services provider’s stock worth $689,000 after purchasing an additional 153 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in Comerica by 5.5% in the third quarter. Checchi Capital Advisers LLC now owns 3,019 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 157 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.
About Comerica (Get Rating)
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial 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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