Comerica (CMA) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Comerica (NYSE:CMA) released its earnings results on Tuesday. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03, Bloomberg Earnings reports. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period last year, the firm earned $0.92 earnings per share.

Comerica (NYSE CMA) opened at $93.04 on Tuesday. Comerica has a twelve month low of $64.04 and a twelve month high of $93.54. The firm has a market capitalization of $16,181.05, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.65 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is 27.15%.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 target price for the company in a report on Wednesday, January 10th. SunTrust Banks reaffirmed a “hold” rating and issued a $86.00 target price on shares of Comerica in a report on Tuesday, January 9th. Vining Sparks reaffirmed a “buy” rating and issued a $97.50 target price on shares of Comerica in a report on Monday, January 8th. Instinet reaffirmed a “neutral” rating and issued a $74.00 target price (up from $71.00) on shares of Comerica in a report on Saturday, September 30th. Finally, Nomura upped their target price on Comerica from $71.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $87.07.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of CMA. IBM Retirement Fund purchased a new stake in shares of Comerica during the third quarter worth $200,000. Zeke Capital Advisors LLC purchased a new stake in shares of Comerica during the third quarter worth $200,000. BB&T Corp purchased a new stake in shares of Comerica during the third quarter worth $206,000. Visionary Asset Management Inc. purchased a new stake in shares of Comerica during the third quarter worth $218,000. Finally, West Oak Capital LLC lifted its position in shares of Comerica by 1,040.7% during the fourth quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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About Comerica

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.

Earnings History for Comerica (NYSE:CMA)

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