Comerica (NYSE:CMA) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Comerica (NYSE:CMA - Get Free Report) issued its quarterly earnings data on Friday. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.17 by $0.16, Briefing.com reports. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. 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 firm earned $1.84 EPS.

Comerica Stock Performance

Shares of CMA stock opened at $64.94 on Monday. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 12.91 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a 52 week low of $37.40 and a 52 week high of $66.06. The firm's 50-day simple moving average is $57.96 and its two-hundred day simple moving average is $53.77.

Comerica Dividend Announcement

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

Analysts Set New Price Targets

CMA has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Comerica from $61.00 to $63.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Evercore ISI raised their price target on shares of Comerica from $58.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, October 2nd. Barclays dropped their price target on shares of Comerica from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Monday, July 22nd. Stephens reaffirmed an "overweight" rating and set a $58.00 price target on shares of Comerica in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada dropped their price target on shares of Comerica from $58.00 to $56.00 and set an "outperform" rating for the company in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $59.62.

Insiders Place Their Bets

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company's stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.

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.