Shares of Comerica Incorporated (NYSE:CMA) have earned a consensus recommendation of “Hold” from the twenty-eight brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $101.68.
Several brokerages recently commented on CMA. Macquarie downgraded shares of Comerica from an “outperform” rating to a “neutral” rating in a research note on Friday, September 7th. Morgan Stanley increased their price objective on shares of Comerica from $108.00 to $111.00 and gave the company an “equal weight” rating in a research note on Thursday, July 26th. Sandler O’Neill reissued a “hold” rating and issued a $100.00 price objective on shares of Comerica in a research note on Thursday, July 26th. Bank of America set a $109.00 price target on shares of Comerica and gave the company a “buy” rating in a research note on Wednesday, July 25th. Finally, BMO Capital Markets raised their price target on shares of Comerica from $106.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, July 25th.
Several institutional investors and hedge funds have recently bought and sold shares of CMA. MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Comerica by 160.4% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after buying an additional 1,418,316 shares during the period. Millennium Management LLC increased its position in shares of Comerica by 31.7% during the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after buying an additional 1,204,882 shares during the period. Integrated Investment Consultants LLC increased its position in shares of Comerica by 26,511.7% during the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 982,787 shares during the period. Janus Henderson Group PLC increased its position in shares of Comerica by 61.5% during the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after buying an additional 491,843 shares during the period. Finally, Natixis increased its position in shares of Comerica by 424.3% during the second quarter. Natixis now owns 322,992 shares of the financial services provider’s stock worth $29,366,000 after buying an additional 261,389 shares during the period. Institutional investors own 82.32% of the company’s stock.
Shares of NYSE:CMA opened at $83.69 on Friday. The company has a market capitalization of $13.50 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.59 and a beta of 1.39. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.82. Comerica has a one year low of $74.16 and a one year high of $102.66.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.05. The business had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. Comerica had a net margin of 29.54% and a return on equity of 14.41%. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, research analysts forecast that Comerica will post 7.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.87%. Comerica’s payout ratio is currently 50.74%.
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.
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