Comerica (NYSE:CMA) Posts Quarterly Earnings Results

Comerica (NYSE:CMA) issued its earnings results on Friday. The financial services provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.19, RTT News reports. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the prior year, the business earned $1.84 EPS.

Comerica Stock Performance

NYSE:CMA opened at $64.97 on Friday. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 12.92 and a beta of 1.23. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $57.96 and a 200-day moving average price of $53.77.

Comerica Announces Dividend

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

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 $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 is available through the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CMA shares. Truist Financial boosted their price objective on shares of Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. DA Davidson reiterated a “neutral” rating and set a $55.00 target price on shares of Comerica in a research note on Tuesday, September 10th. Finally, Evercore ISI increased their price target on Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.62.

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.