Comerica (NYSE:CMA) Announces Earnings Results

Comerica (NYSE:CMA) released its quarterly earnings data on Friday. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.19, RTT News reports. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the business earned $1.84 EPS.

Comerica Stock Performance

NYSE CMA opened at $64.97 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. Comerica has a 1 year low of $37.40 and a 1 year high of $66.06. The stock has a market capitalization of $8.61 billion, a PE ratio of 12.92 and a beta of 1.23. The company’s 50 day simple moving average is $57.96 and its two-hundred day simple moving average is $53.77.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Analyst Ratings Changes

A number of research analysts have commented on CMA shares. Evercore ISI upped their price objective on Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. Barclays reduced their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Finally, StockNews.com downgraded Comerica from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.62.

Insider Buying and Selling

In other news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company 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, payment solutions, card services, 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.