Q1 2023 Earnings Forecast for Comerica Incorporated (NYSE:CMA) Issued By Jefferies Financial Group

Comerica Incorporated (NYSE:CMA – Get Rating) – Analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share estimates for Comerica in a research report issued to clients and investors on Thursday, April 21st. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $2.43 per share for the quarter, up from their prior estimate of $2.41. Jefferies Financial Group currently has a “Buy” rating and a $114.00 target price on the stock.

Comerica (NYSE:CMA – Get Rating) last issued its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.01). Comerica had a return on equity of 13.85% and a net margin of 33.48%. During the same quarter in the prior year, the firm earned $2.43 EPS.

CMA has been the subject of several other reports. Bank of America raised shares of Comerica from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $88.00 to $105.00 in a research note on Thursday, January 6th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Thursday. Citigroup started coverage on Comerica in a report on Thursday, March 24th. They issued a “buy” rating for the company. Royal Bank of Canada cut their price objective on Comerica from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Truist Financial increased their price objective on Comerica from $98.00 to $118.00 in a report on Thursday, January 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.76.

Shares of CMA opened at $80.97 on Monday. The stock has a market capitalization of $10.61 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.60 and a beta of 1.35. Comerica has a twelve month low of $63.07 and a twelve month high of $102.09. The company has a 50 day moving average of $91.50 and a 200-day moving average of $90.07. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 0.40.

Several institutional investors and hedge funds have recently bought and sold shares of CMA. NorthCrest Asset Manangement LLC increased its position in shares of Comerica by 0.3% in the first quarter. NorthCrest Asset Manangement LLC now owns 39,096 shares of the financial services provider’s stock worth $3,535,000 after purchasing an additional 125 shares during the period. AdvisorNet Financial Inc increased its position in shares of Comerica by 3.2% in the fourth quarter. AdvisorNet Financial Inc now owns 4,180 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 129 shares during the period. Bailard Inc. increased its position in shares of 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. increased its position in shares of 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. Finally, Checchi Capital Advisers LLC increased its position in shares of 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.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Tuesday, March 15th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Monday, March 14th. Comerica’s dividend payout ratio is 37.52%.

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.

Further Reading