ValuEngine lowered shares of Comerica (NYSE:CMA) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
CMA has been the topic of several other reports. DA Davidson reissued a hold rating and set a $100.00 price target on shares of Comerica in a research report on Wednesday, January 17th. Zacks Investment Research raised Comerica from a hold rating to a buy rating and set a $105.00 price target on the stock in a research report on Tuesday, April 3rd. Susquehanna Bancshares set a $99.00 price target on Comerica and gave the company a hold rating in a research report on Tuesday, April 10th. SunTrust Banks reissued a hold rating and set a $86.00 price target on shares of Comerica in a research report on Tuesday, January 9th. Finally, Wedbush upped their price target on Comerica from $91.00 to $97.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $96.10.
NYSE:CMA opened at $93.45 on Wednesday. The firm has a market cap of $16,026.70, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.38. Comerica has a 1-year low of $64.04 and a 1-year high of $102.66. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.02). The business had revenue of $793.00 million for the quarter, compared to analyst estimates of $811.59 million. Comerica had a net margin of 24.37% and a return on equity of 12.05%. During the same period in the previous year, the firm posted $1.11 earnings per share. equities research analysts predict that Comerica will post 6.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. Comerica’s dividend payout ratio (DPR) is presently 25.37%.
In other news, President Curtis C. Farmer sold 18,870 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $96.08, for a total transaction of $1,813,029.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph W. Babb, Jr. sold 50,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $95.25, for a total value of $4,762,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,506 shares of company stock valued at $20,468,762. 0.83% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Comerica by 30.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,236 shares of the financial services provider’s stock worth $3,049,000 after acquiring an additional 8,154 shares in the last quarter. Wealthfront Inc. boosted its stake in Comerica by 11.0% during the 4th quarter. Wealthfront Inc. now owns 13,928 shares of the financial services provider’s stock valued at $1,209,000 after purchasing an additional 1,377 shares during the period. Toronto Dominion Bank boosted its stake in Comerica by 12.4% during the 4th quarter. Toronto Dominion Bank now owns 75,032 shares of the financial services provider’s stock valued at $6,513,000 after purchasing an additional 8,262 shares during the period. Lazard Asset Management LLC boosted its stake in Comerica by 3.8% during the 4th quarter. Lazard Asset Management LLC now owns 566,899 shares of the financial services provider’s stock valued at $49,211,000 after purchasing an additional 20,506 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Comerica by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock valued at $75,956,000 after purchasing an additional 31,136 shares during the period. Institutional investors own 83.09% of the company’s stock.
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Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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