FBR & Co downgraded shares of Comerica Inc. (NYSE:CMA) from an outperform rating to a market perform rating in a research report released on Tuesday morning. FBR & Co currently has $50.00 price target on the financial services provider’s stock.
CMA has been the topic of a number of other reports. Wedbush began coverage on Comerica in a research note on Thursday, October 6th. They issued a neutral rating and a $49.00 price objective on the stock. Compass Point boosted their target price on Comerica from $40.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday, July 20th. Zacks Investment Research raised Comerica from a sell rating to a hold rating in a research report on Thursday, June 30th. Nomura reaffirmed a hold rating on shares of Comerica in a research report on Saturday, July 9th. Finally, Credit Suisse Group AG reaffirmed a hold rating and issued a $37.00 target price on shares of Comerica in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $45.04.
Comerica (NYSE:CMA) traded up 0.33% during mid-day trading on Tuesday, hitting $48.80. The stock had a trading volume of 373,746 shares. The stock has a market cap of $8.49 billion, a PE ratio of 21.19 and a beta of 1.36. The firm’s 50-day moving average price is $47.04 and its 200-day moving average price is $44.05. Comerica has a 1-year low of $30.48 and a 1-year high of $49.75.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%. On average, equities analysts expect that Comerica will post $2.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.89%. This is an increase from Comerica’s previous quarterly dividend of $0.22. Comerica’s dividend payout ratio is currently 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Comerica during the second quarter worth about $58,616,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Comerica by 440.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,678,296 shares of the financial services provider’s stock worth $63,557,000 after buying an additional 1,367,896 shares during the period. Teachers Advisors Inc. increased its stake in shares of Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock worth $67,858,000 after buying an additional 679,830 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Comerica during the second quarter worth about $27,375,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Comerica by 39.7% in the second quarter. Bank of New York Mellon Corp now owns 2,278,685 shares of the financial services provider’s stock worth $93,722,000 after buying an additional 647,477 shares during the period. Hedge funds and other institutional investors own 84.59% of the company’s stock.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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