Comerica Inc. (CMA) Price Target Raised to $52.00

Comerica Inc. (NYSE:CMA) had its price objective boosted by equities researchers at FBR & Co from $50.00 to $52.00 in a research note issued to investors on Wednesday, reports. The brokerage currently has a “mkt perform” rating on the financial services provider’s stock. FBR & Co’s target price points to a potential upside of 3.90% from the company’s current price.

A number of other brokerages have also recently weighed in on CMA. Zacks Investment Research cut Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Bank of America Corp. lowered Comerica from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $30.48 to $36.00 in a research note on Wednesday, June 29th. Goldman Sachs Group Inc. raised Comerica from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Friday, September 16th. Credit Agricole SA increased their price objective on Comerica from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, September 6th. Finally, Barclays PLC reaffirmed a “sell” rating on shares of Comerica in a research note on Saturday, July 9th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $45.13.

Analyst Recommendations for Comerica (NYSE:CMA)

Shares of Comerica (NYSE:CMA) opened at 50.05 on Wednesday. The firm’s 50-day moving average is $47.36 and its 200-day moving average is $44.43. Comerica has a 52 week low of $30.48 and a 52 week high of $50.54. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 21.73 and a beta of 1.36.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. During the same period in the previous year, the company earned $0.74 earnings per share. On average, equities research analysts anticipate that Comerica will post $2.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Tuesday, September 13th. This is a positive change 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 dated Thursday, August 25th. The shares were sold at an average price of $45.92, for a total value of $105,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Endeavour Capital Advisors Inc. raised its stake in Comerica by 19.7% in the first quarter. Endeavour Capital Advisors Inc. now owns 507,094 shares of the financial services provider’s stock valued at $19,204,000 after buying an additional 83,336 shares during the period. Moore Capital Management LP purchased a new stake in Comerica during the first quarter valued at approximately $947,000. A.R.T. Advisors LLC purchased a new stake in Comerica during the first quarter valued at approximately $2,792,000. National Planning Corp purchased a new stake in Comerica during the first quarter valued at approximately $239,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Comerica during the first quarter valued at approximately $960,000. 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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