Comerica Inc. (NYSE:CMA)‘s stock had its “market perform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued on Wednesday.
Other research analysts have also issued reports about the company. Nomura reissued a “hold” rating on shares of Comerica in a research report on Saturday, July 9th. Barclays PLC reissued a “sell” rating on shares of Comerica in a research report on Saturday, July 9th. Leerink Swann reissued a “buy” rating on shares of Comerica in a research report on Sunday, July 17th. JPMorgan Chase & Co. lowered their target price on Comerica from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Finally, Zacks Investment Research upgraded Comerica from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Comerica has an average rating of “Hold” and an average price target of $45.04.
Shares of Comerica (NYSE:CMA) opened at 47.91 on Wednesday. The stock has a 50 day moving average price of $47.18 and a 200 day moving average price of $44.11. The stock has a market capitalization of $8.33 billion, a P/E ratio of 20.80 and a beta of 1.36. Comerica has a 12-month low of $30.48 and a 12-month high of $49.75.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate 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 anticipate that Comerica will post $2.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were given a $0.23 dividend. This is a positive change from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.92 annualized dividend and a yield of 1.92%. Comerica’s payout ratio is 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of Comerica stock in a transaction that occurred on 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 SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fruth Investment Management acquired a new position in Comerica during the third quarter valued at about $211,000. Nisa Investment Advisors LLC boosted its position in Comerica by 0.7% in the third quarter. Nisa Investment Advisors LLC now owns 44,525 shares of the financial services provider’s stock valued at $2,107,000 after buying an additional 300 shares during the last quarter. British Columbia Investment Management Corp boosted its position in Comerica by 8.8% in the third quarter. British Columbia Investment Management Corp now owns 60,054 shares of the financial services provider’s stock valued at $2,842,000 after buying an additional 4,860 shares during the last quarter. First Mercantile Trust Co. boosted its position in Comerica by 85.2% in the third quarter. First Mercantile Trust Co. now owns 17,960 shares of the financial services provider’s stock valued at $850,000 after buying an additional 8,260 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Comerica during the second quarter valued at $291,000. 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.
Receive News & Ratings for Comerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica Inc. and related companies with MarketBeat.com's FREE daily email newsletter.