Comerica (CMA) to Release Quarterly Earnings on Wednesday

Comerica (NYSE:CMA) is anticipated to post its quarterly earnings results before the market opens on Wednesday, January 22nd. Analysts expect Comerica to post earnings of $1.25 per share and revenue of $839,440.00 billion for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter in the previous year, the company earned $1.84 EPS. On average, analysts expect Comerica to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Comerica Trading Up 1.5 %

Shares of CMA stock opened at $66.08 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 16.52 and a beta of 1.26. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The stock’s 50-day moving average price is $66.15 and its 200-day moving average price is $60.54.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is presently 71.00%.

Comerica announced that its board has initiated a share buyback plan on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMA. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Piper Sandler raised their price target on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Comerica from $72.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Comerica currently has an average rating of “Hold” and a consensus target price of $67.71.

Insiders Place Their Bets

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. This trade represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the transaction, the executive vice president now directly owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 29.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,456 shares of company stock valued at $977,287. 0.19% of the stock is owned by insiders.

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.