Share price performance
Comerica (CMA) shares closed at $49.58 on Friday, July 10. Last week, the stock tumbled 3.73% and underperformed the broad-based S&P 500 (SPY) as well as banking stocks within the Financial Select Sector SPDR ETF (XLF).
On Friday, the company closed below its 20-day moving average of $51.28 by 3.42%. However, it still traded above its 100-day moving average of $47.95.
Year-to-date, the stock has rallied 5.85%. It has a 52-week high of $53.45.
Wall Street analysts projecting future stock price targets have a mean price estimate of $50.93 for CMA. Thirty-four analysts follow the stock. Of them, 24 rate the stock a “hold,” four rate the stock a “sell,” and six consider the stock a “buy.”
With crude oil prices trending down last week at the onset of global turmoil, banks with exposure to energy companies were also at risk. Comerica has 7.3% of its total loan exposure in energy companies, while peers like J.P. Morgan (JPM), Citigroup (C), and Bank of America (BAC) have smaller exposure of 5.7%, 3.5%, and 2.5%, respectively.
The company most recently posted earnings per share of $0.73 for the period ending on March 31, 2015—a 1.39% difference from what analyst consensus had expected. Comerica will announce its next earnings results on July 17.
Comerica has three business segments:
- Business Bank
- Retail Bank
- Wealth Management
Comerica operates in three primary geographic markets:
The company’s Business Bank meets the needs of middle-market businesses, multinational corporations, and governmental entities. It 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.