Comerica Incorporated (CMA) to Post Q1 2018 Earnings of $1.56 Per Share, SunTrust Banks Forecasts
Comerica Incorporated (NYSE:CMA) – Research analysts at SunTrust Banks increased their Q1 2018 EPS estimates for shares of Comerica in a research note issued on Tuesday. SunTrust Banks analyst J. Demba now expects that the financial services provider will post earnings per share of $1.56 for the quarter, up from their previous forecast of $1.42. SunTrust Banks currently has a “Hold” rating and a $98.00 target price on the stock. SunTrust Banks also issued estimates for Comerica’s Q2 2018 earnings at $1.62 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.65 EPS, FY2018 earnings at $6.49 EPS, Q1 2019 earnings at $1.63 EPS, Q2 2019 earnings at $1.69 EPS, Q3 2019 earnings at $1.76 EPS, Q4 2019 earnings at $1.77 EPS and FY2019 earnings at $6.85 EPS.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price target for the company in a research report on Wednesday, January 10th. Robert W. Baird reissued a “hold” rating and issued a $95.00 price target on shares of Comerica in a research report on Wednesday. DA Davidson reissued a “hold” rating and issued a $100.00 price target on shares of Comerica in a research report on Wednesday. Instinet reissued a “neutral” rating and issued a $74.00 price target (up previously from $71.00) on shares of Comerica in a research report on Saturday, September 30th. Finally, Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 price target for the company in a research report on Friday, December 8th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Comerica presently has a consensus rating of “Hold” and an average price target of $92.37.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.25 by $0.03. The company had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter last year, the firm posted $0.92 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is presently 28.99%.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Veritable L.P. lifted its stake in Comerica by 0.3% during the 2nd quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 32 shares in the last quarter. Sentry Investment Management LLC lifted its stake in Comerica by 1.2% during the 2nd quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 142 shares in the last quarter. AXA lifted its stake in Comerica by 1.0% during the 2nd quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 200 shares in the last quarter. Suntrust Banks Inc. lifted its stake in Comerica by 0.9% during the 2nd quarter. Suntrust Banks Inc. now owns 45,789 shares of the financial services provider’s stock valued at $3,352,000 after acquiring an additional 427 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Comerica by 13.1% during the 2nd quarter. Norinchukin Bank The now owns 6,987 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 807 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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