Comerica (CMA) Set to Announce Quarterly Earnings on Wednesday

Comerica (NYSE:CMAGet Rating) will be releasing its earnings data before the market opens on Wednesday, April 20th. Analysts expect Comerica to post earnings of $1.38 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMAGet Rating) last released its earnings results on Wednesday, January 19th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.05. The firm had revenue of $750.00 million for the quarter, compared to analysts’ expectations of $733.98 million. Comerica had a return on equity of 15.47% and a net margin of 38.62%. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, analysts expect Comerica to post $7 EPS for the current fiscal year and $9 EPS for the next fiscal year.

CMA opened at $88.37 on Monday. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.73 and a beta of 1.35. The stock’s 50 day moving average price is $92.85 and its 200-day moving average price is $90.03. Comerica has a one year low of $63.07 and a one year high of $102.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.92.

The firm also recently announced 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 3.08%. Comerica’s dividend payout ratio is 32.73%.

In other news, EVP Wendy Bridges sold 1,100 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $93.78, for a total transaction of $103,158.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine M. Moore sold 2,750 shares of the stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $93.90, for a total value of $258,225.00. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Comerica by 38.3% during the 2nd quarter. Morgan Stanley now owns 856,717 shares of the financial services provider’s stock valued at $61,118,000 after purchasing an additional 237,136 shares during the last quarter. Barclays PLC increased its position in shares of Comerica by 9.1% in the 4th quarter. Barclays PLC now owns 339,021 shares of the financial services provider’s stock valued at $29,496,000 after acquiring an additional 28,214 shares during the period. Deutsche Bank AG increased its position in shares of Comerica by 10.2% in the 4th quarter. Deutsche Bank AG now owns 240,258 shares of the financial services provider’s stock valued at $20,903,000 after acquiring an additional 22,296 shares during the period. State of Tennessee Treasury Department increased its position in shares of Comerica by 39.1% in the 4th quarter. State of Tennessee Treasury Department now owns 96,070 shares of the financial services provider’s stock valued at $8,358,000 after acquiring an additional 26,982 shares during the period. Finally, LPL Financial LLC increased its position in shares of Comerica by 5.3% in the 4th quarter. LPL Financial LLC now owns 30,281 shares of the financial services provider’s stock valued at $2,634,000 after acquiring an additional 1,520 shares during the period. Hedge funds and other institutional investors own 79.73% of the company’s stock.

CMA has been the topic of a number of analyst reports. Citigroup initiated coverage on Comerica in a research note on Thursday, March 24th. They set a “buy” rating on the stock. Barclays upped their target price on Comerica from $86.00 to $99.00 in a research note on Monday, January 3rd. DA Davidson boosted their price target on Comerica from $103.00 to $115.00 in a report on Thursday, January 20th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating and set a $104.00 price target for the company. in a report on Friday, January 7th. Finally, Truist Financial boosted their price target on Comerica from $98.00 to $118.00 in a report on Thursday, January 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.76.

Comerica Company Profile (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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Earnings History for Comerica (NYSE:CMA)

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