Wedbush Comments on Comerica Incorporated’s FY2022 Earnings (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) – Investment analysts at Wedbush lowered their FY2022 EPS estimates for shares of Comerica in a research note issued on Tuesday, April 6th. Wedbush analyst P. Winter now anticipates that the financial services provider will post earnings per share of $5.25 for the year, down from their previous forecast of $5.26.

CMA has been the topic of a number of other research reports. DA Davidson raised shares of Comerica from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating and set a $76.00 price target on the stock. in a research note on Tuesday, March 9th. Stephens upped their price target on shares of Comerica from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. B. Riley downgraded shares of Comerica from a “buy” rating to a “neutral” rating in a research note on Friday, March 5th. They noted that the move was a valuation call. Finally, Wells Fargo & Company increased their target price on shares of Comerica from $54.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 1st. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average price target of $55.89.

Shares of NYSE:CMA opened at $71.87 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average price of $69.55 and a 200 day moving average price of $56.27. Comerica has a fifty-two week low of $25.80 and a fifty-two week high of $73.73. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 19.80 and a beta of 1.67.

Comerica (NYSE:CMA) last issued its earnings results on Monday, January 18th. The financial services provider reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.30. Comerica had a net margin of 16.17% and a return on equity of 7.12%. The firm had revenue of $734.00 million during the quarter, compared to analyst estimates of $703.98 million. During the same quarter in the prior year, the business earned $1.85 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, March 12th. Comerica’s payout ratio is 34.83%.

In related news, EVP Cassandra M. Mckinney sold 4,643 shares of the company’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $62.23, for a total value of $288,933.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christine M. Moore sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $68.67, for a total value of $206,010.00. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new position in shares of Comerica in the 1st quarter valued at $660,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Comerica during the 4th quarter worth about $336,000. Dimensional Fund Advisors LP grew its position in Comerica by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,995,646 shares of the financial services provider’s stock worth $111,477,000 after purchasing an additional 46,254 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Comerica during the 4th quarter worth about $5,865,000. Finally, Moody National Bank Trust Division grew its position in Comerica by 22.7% during the 4th quarter. Moody National Bank Trust Division now owns 26,997 shares of the financial services provider’s stock worth $1,508,000 after purchasing an additional 4,997 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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Earnings History and Estimates for Comerica (NYSE:CMA)

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