TheStreet upgraded shares of Comerica (NYSE:CMA) from a c+ rating to a b rating in a research note released on Tuesday, TheStreetRatingsTable reports.
Several other analysts have also weighed in on CMA. Wells Fargo & Company increased their price target on Comerica from $54.00 to $65.00 and gave the company an underweight rating in a report on Thursday, April 1st. Royal Bank of Canada reaffirmed a buy rating and issued a $70.00 price objective on shares of Comerica in a research report on Wednesday, January 20th. Raymond James upped their price objective on Comerica from $72.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, April 13th. Barclays upped their price objective on Comerica from $65.00 to $67.00 and gave the company an underweight rating in a research report on Wednesday, April 7th. Finally, Stephens upped their price objective on Comerica from $74.00 to $82.00 and gave the company an overweight rating in a research report on Tuesday, March 30th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $60.93.
NYSE:CMA opened at $67.88 on Tuesday. The stock’s fifty day moving average is $70.32 and its 200 day moving average is $58.70. Comerica has a fifty-two week low of $27.84 and a fifty-two week high of $73.73. The firm has a market capitalization of $9.47 billion, a PE ratio of 18.70 and a beta of 1.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 0.97.
Comerica (NYSE:CMA) last released its quarterly earnings results on Monday, April 19th. The financial services provider reported $2.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $1.06. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same quarter last year, the firm posted ($0.46) EPS. Equities analysts forecast that Comerica will post 2.98 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, March 12th. Comerica’s payout ratio is 34.83%.
In related news, EVP Christine M. Moore sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $68.67, for a total transaction of $206,010.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Cassandra M. Mckinney sold 4,643 shares of the firm’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $62.23, for a total value of $288,933.89. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Fort Pitt Capital Group LLC bought a new stake in Comerica during the fourth quarter valued at about $32,000. First Command Bank purchased a new stake in Comerica in the first quarter valued at about $37,000. Salem Investment Counselors Inc. purchased a new stake in Comerica in the fourth quarter valued at about $47,000. Creative Financial Designs Inc. ADV purchased a new stake in Comerica in the first quarter valued at about $51,000. Finally, FAI Wealth Management purchased a new stake in Comerica in the fourth quarter valued at about $55,000. 78.17% of the stock is currently owned by institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers 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 for small and middle market businesses, multinational corporations, and governmental entities.
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