Comerica Incorporated (NYSE:CMA) has been given an average rating of “Hold” by the twenty-five analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $87.69.
A number of equities analysts recently issued reports on the company. Piper Jaffray Companies upgraded Comerica to a “buy” rating and set a $98.00 price objective for the company in a report on Friday, December 8th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Comerica in a report on Wednesday, December 13th. Deutsche Bank boosted their price objective on Comerica from $80.00 to $82.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and set a $86.00 price objective on shares of Comerica in a report on Tuesday. Finally, DA Davidson reaffirmed a “hold” rating and set a $81.00 target price on shares of Comerica in a research report on Wednesday, October 18th.
In other news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. IBM Retirement Fund bought a new position in shares of Comerica in the 3rd quarter worth $200,000. Zeke Capital Advisors LLC acquired a new position in Comerica during the 3rd quarter valued at about $200,000. BB&T Corp acquired a new position in Comerica during the 3rd quarter valued at about $206,000. Marshall Wace North America L.P. acquired a new position in Comerica during the 2nd quarter valued at about $208,000. Finally, HGK Asset Management Inc. acquired a new position in Comerica during the 2nd quarter valued at about $209,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
Comerica (CMA) traded up $0.94 on Monday, reaching $91.31. The company had a trading volume of 1,374,400 shares, compared to its average volume of 1,384,886. Comerica has a one year low of $64.04 and a one year high of $92.42. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $15,720.00, a PE ratio of 20.71, a P/E/G ratio of 1.81 and a beta of 1.50.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The company had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter in the previous year, the business earned $0.84 EPS. sell-side analysts anticipate that Comerica will post 4.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, December 14th. Comerica’s payout ratio is 27.21%.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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