Q2 2024 EPS Estimates for Comerica Incorporated Decreased by Analyst (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) – Analysts at Wedbush dropped their Q2 2024 earnings per share (EPS) estimates for shares of Comerica in a research note issued to investors on Thursday, April 18th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.09 per share for the quarter, down from their prior forecast of $1.22. The consensus estimate for Comerica’s current full-year earnings is $5.09 per share. Wedbush also issued estimates for Comerica’s Q3 2024 earnings at $1.37 EPS, Q4 2024 earnings at $1.60 EPS, Q4 2025 earnings at $1.57 EPS and FY2025 earnings at $6.15 EPS.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same quarter in the previous year, the firm posted $2.39 EPS.

CMA has been the topic of several other research reports. DA Davidson reaffirmed a “neutral” rating and set a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 target price on shares of Comerica in a research note on Monday. Keefe, Bruyette & Woods cut their target price on Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Stephens reissued an “overweight” rating and issued a $64.00 price objective on shares of Comerica in a research note on Friday. Finally, Bank Of America (Bofa) boosted their price objective on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.89.

Comerica Stock Up 2.0 %

Shares of Comerica stock opened at $52.59 on Monday. The business’s fifty day moving average price is $51.38 and its two-hundred day moving average price is $49.45. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $6.97 billion, a P/E ratio of 10.46 and a beta of 1.27. Comerica has a 1-year low of $28.40 and a 1-year high of $57.39.

Institutional Trading of Comerica

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bison Wealth LLC lifted its position in shares of Comerica by 1.7% in the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after buying an additional 196 shares during the last quarter. Fruth Investment Management lifted its position in shares of Comerica by 1.6% in the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after buying an additional 200 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Comerica by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after buying an additional 219 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Comerica by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock worth $178,000 after buying an additional 230 shares during the last quarter. Finally, Spire Wealth Management lifted its position in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was 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 $920,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.40%. Comerica’s dividend payout ratio is 56.46%.

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.