Wedbush Weighs in on Comerica Incorporated’s Q2 2022 Earnings (NYSE:CMA)

Comerica Incorporated (NYSE:CMAGet Rating) – Stock analysts at Wedbush increased their Q2 2022 earnings per share (EPS) estimates for shares of Comerica in a research note issued to investors on Wednesday, May 11th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings per share of $1.77 for the quarter, up from their previous estimate of $1.74. Wedbush currently has a “Outperform” rating and a $102.00 target price on the stock. Wedbush also issued estimates for Comerica’s Q3 2022 earnings at $2.18 EPS, FY2022 earnings at $7.71 EPS, Q1 2023 earnings at $2.23 EPS, Q2 2023 earnings at $2.35 EPS, Q3 2023 earnings at $2.43 EPS, Q4 2023 earnings at $2.49 EPS and FY2023 earnings at $9.49 EPS.

Comerica (NYSE:CMAGet Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share (EPS) 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 business posted $2.43 earnings per share.

CMA has been the subject of several other reports. Piper Sandler upgraded shares of Comerica from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $94.00 in a research note on Monday, May 2nd. Jefferies Financial Group raised shares of Comerica from a “hold” rating to a “buy” rating and upped their price objective for the company from $98.00 to $114.00 in a report on Monday, February 14th. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research report on Tuesday. Compass Point upgraded shares of Comerica from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $115.00 in a research report on Wednesday, February 16th. Finally, Robert W. Baird raised shares of Comerica from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $78.00 to $85.00 in a report on Monday, April 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average price target of $101.95.

CMA stock opened at $76.00 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average price of $88.06 and a 200 day moving average price of $89.79. Comerica has a 1-year low of $63.07 and a 1-year high of $102.09. The company has a market capitalization of $9.94 billion, a P/E ratio of 10.48, a PEG ratio of 1.52 and a beta of 1.33.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Tuesday, June 14th. Comerica’s dividend payout ratio is currently 37.52%.

In other news, EVP Wendy Bridges sold 1,100 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $93.78, for a total transaction of $103,158.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Concord Wealth Partners lifted its position in Comerica by 191.8% in the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock worth $25,000 after buying an additional 188 shares in the last quarter. Tcwp LLC acquired a new position in Comerica during the first quarter valued at approximately $30,000. Kings Point Capital Management acquired a new position in Comerica during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC bought a new stake in Comerica during the 4th quarter valued at approximately $35,000. Finally, Rather & Kittrell Inc. acquired a new stake in shares of Comerica in the fourth quarter worth $42,000. 80.14% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Comerica (NYSE:CMA)

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