Comerica Incorporated (NYSE:CMA) – Stock analysts at Jefferies Financial Group increased their Q1 2019 earnings per share (EPS) estimates for shares of Comerica in a research report issued on Tuesday, October 16th, Zacks Investment Research reports. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will earn $1.93 per share for the quarter, up from their prior forecast of $1.91. Jefferies Financial Group also issued estimates for Comerica’s Q2 2019 earnings at $2.04 EPS, Q3 2019 earnings at $2.14 EPS and Q4 2019 earnings at $2.25 EPS.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. Comerica had a net margin of 29.54% and a return on equity of 14.41%. The business had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $852.72 million. During the same period last year, the business earned $1.26 earnings per share.
NYSE CMA traded up $0.18 on Thursday, reaching $84.69. 3,201,805 shares of the company’s stock traded hands, compared to its average volume of 2,339,242. Comerica has a 12 month low of $74.16 and a 12 month high of $102.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $13.51 billion, a P/E ratio of 17.90, a PEG ratio of 0.59 and a beta of 1.39.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Thursday, December 13th. Comerica’s payout ratio is 50.74%.
A number of hedge funds have recently made changes to their positions in CMA. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Comerica by 160.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after acquiring an additional 1,418,316 shares during the period. Millennium Management LLC lifted its stake in Comerica by 31.7% in the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after acquiring an additional 1,204,882 shares during the period. Integrated Investment Consultants LLC lifted its stake in Comerica by 26,511.7% in the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after acquiring an additional 982,787 shares during the period. Bank of New York Mellon Corp lifted its stake in Comerica by 47.8% in the third quarter. Bank of New York Mellon Corp now owns 2,727,000 shares of the financial services provider’s stock worth $245,975,000 after acquiring an additional 881,990 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Comerica by 61.5% in the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after acquiring an additional 491,843 shares during the period. 82.32% of the stock is owned by institutional investors.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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