Comerica Incorporated (NYSE:CMA) Forecasted to Post Q4 2024 Earnings of $1.07 Per Share

Comerica Incorporated (NYSE:CMA) – Research analysts at Wedbush lowered their Q4 2024 EPS estimates for Comerica in a research report issued to clients and investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.08. Wedbush has a “Outperform” rating and a $75.00 price objective on the stock. The consensus estimate for Comerica’s current full-year earnings is $5.06 per share.

Several other equities research analysts also recently issued reports on CMA. Evercore ISI lowered their price objective on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Stephens reaffirmed an “overweight” rating and set a $58.00 price target on shares of Comerica in a research report on Tuesday, September 10th. StockNews.com cut shares of Comerica from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.24.

Comerica Price Performance

NYSE CMA opened at $59.47 on Wednesday. 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 $61.84. The business has a 50 day simple moving average of $55.46 and a 200 day simple moving average of $52.87. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 11.82 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. During the same period in the previous year, the firm earned $2.01 earnings per share.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.78%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Buying and Selling

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s 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 completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Family Firm Inc. bought a new position in shares of Comerica in the second quarter worth $37,000. UMB Bank n.a. increased its holdings in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the period. Versant Capital Management Inc raised its position in shares of Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in Comerica in the second quarter valued at approximately $56,000. 80.74% of the stock is 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.