Comerica (NYSE:CMA) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Comerica (NYSE:CMA) released its quarterly earnings results on Thursday. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16, RTT News reports. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period last year, the firm earned $2.39 EPS.

Comerica Trading Up 1.7 %

Comerica stock opened at $50.66 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $51.38 and a two-hundred day moving average price of $49.15. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 7.87 and a beta of 1.27. Comerica has a 52-week low of $28.40 and a 52-week high of $57.39.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date was Thursday, March 14th. Comerica’s payout ratio is 44.10%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group restated a “neutral” rating and set a $59.00 target price (down previously from $66.00) on shares of Comerica in a research report on Thursday, April 4th. Truist Financial raised their target price on shares of Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.67.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the business’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 completion of the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Comerica in the 4th quarter worth approximately $26,000. Chilton Capital Management LLC acquired a new stake in shares of Comerica during the first quarter valued at approximately $28,000. Almanack Investment Partners LLC. acquired a new stake in shares of Comerica during the third quarter valued at approximately $38,000. Parkside Financial Bank & Trust raised its holdings in shares of Comerica by 25.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 231 shares during the period. Finally, Money Concepts Capital Corp acquired a new stake in shares of Comerica during the fourth quarter valued at approximately $50,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Company Profile

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.