Wedbush Comments on Comerica Incorporated’s Q4 2024 Earnings (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) – Stock analysts at Wedbush raised their Q4 2024 earnings per share (EPS) estimates for Comerica in a research note issued on Wednesday, April 3rd. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $1.57 per share for the quarter, up from their previous forecast of $1.51. The consensus estimate for Comerica’s current full-year earnings is $5.18 per share.

A number of other research firms also recently issued reports on CMA. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. downgraded Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Tuesday, December 12th. TheStreet raised Comerica from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Bank Of America (Bofa) raised their price objective on Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, Truist Financial lifted their target price on Comerica from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $57.61.

Comerica Stock Up 0.9 %

Shares of Comerica stock opened at $54.48 on Monday. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 8.46 and a beta of 1.27. The firm’s 50-day moving average is $51.39 and its two-hundred day moving average is $48.77.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. During the same quarter last year, the firm posted $2.58 earnings per share.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.21%. Comerica’s dividend payout ratio is currently 44.10%.

Insider Transactions at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its holdings in Comerica by 9.3% in the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 568 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Comerica by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after purchasing an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Comerica by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 1,024 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Comerica by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 2,163 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after buying an additional 4,165 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.