Comerica (NYSE:CMA) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07), Morningstar.com reports. Comerica had a return on equity of 16.92% and a net margin of 33.29%. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $859.09 million. During the same period last year, the company earned $1.87 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year.
NYSE CMA opened at $69.34 on Friday. The stock’s fifty day moving average price is $70.94. Comerica has a 52 week low of $63.69 and a 52 week high of $100.64. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $10.67 billion, a PE ratio of 9.58, a P/E/G ratio of 1.26 and a beta of 1.44.
The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.67 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.87%. Comerica’s payout ratio is currently 37.02%.
In other news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.
Large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in shares of Comerica by 2.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 13,159 shares of the financial services provider’s stock worth $903,000 after buying an additional 316 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Comerica by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,942 shares of the financial services provider’s stock worth $68,959,000 after buying an additional 100,589 shares during the period. Geode Capital Management LLC lifted its stake in shares of Comerica by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock worth $152,960,000 after buying an additional 76,845 shares during the period. Mackay Shields LLC lifted its stake in shares of Comerica by 146.0% during the fourth quarter. Mackay Shields LLC now owns 118,843 shares of the financial services provider’s stock worth $8,163,000 after buying an additional 70,533 shares during the period. Finally, Brandywine Global Investment Management LLC lifted its stake in shares of Comerica by 5.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 180,075 shares of the financial services provider’s stock worth $12,370,000 after buying an additional 8,544 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business 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 middle market businesses, multinational corporations, and governmental entities.
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