Shares of Comerica Inc. (NYSE:CMA) have been given a consensus recommendation of “Hold” by the twenty-nine brokerages that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.05.
CMA has been the topic of a number of research analyst reports. Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of Comerica in a report on Friday, June 3rd. Deutsche Bank AG reiterated a “hold” rating on shares of Comerica in a research report on Saturday, June 4th. Zacks Investment Research downgraded Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Bank of America Corp. downgraded Comerica from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $30.48 to $36.00 in a research report on Wednesday, June 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Comerica in a research report on Wednesday, July 6th.
Comerica (NYSE:CMA) opened at 46.96 on Wednesday. Comerica has a 1-year low of $30.48 and a 1-year high of $47.70. The stock has a 50 day moving average price of $46.32 and a 200 day moving average price of $43.17. The company has a market cap of $8.17 billion, a PE ratio of 20.39 and a beta of 1.36.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%. Equities analysts forecast that Comerica will post $2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 13th. This is a positive change from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.96%. Comerica’s payout ratio is currently 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of Comerica stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake in shares of Comerica by 128.8% in the second quarter. Global X Management Co. LLC now owns 2,862 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,611 shares during the period. Pacer Advisors Inc. raised its stake in shares of Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares during the period. Tredje AP fonden raised its stake in shares of Comerica by 733.9% in the second quarter. Tredje AP fonden now owns 4,920 shares of the financial services provider’s stock worth $202,000 after buying an additional 4,330 shares during the period. American National Registered Investment Advisor Inc. purchased a new stake in shares of Comerica during the second quarter worth approximately $206,000. Finally, Dillon & Associates Inc. purchased a new stake in shares of Comerica during the second quarter worth approximately $211,000. Institutional investors own 84.62% of the company’s stock.
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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