Sterne Agee Initiates Coverage on Comerica (CMA)
Research analysts at Sterne Agee began coverage on shares of Comerica (NYSE:CMA) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura initiated coverage on shares of Comerica in a research note on Wednesday, May 14th. They set a “reduce” rating and a $40.00 price target on the stock. Separately, analysts at Northland Securities initiated coverage on shares of Comerica in a research note on Wednesday, May 14th. They set a “reduce” rating and a $40.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Comerica in a research note on Wednesday, April 30th. They now have a $48.00 price target on the stock, up previously from $45.00. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. Comerica presently has an average rating of “Hold” and an average target price of $46.31.
Comerica (NYSE:CMA) opened at 47.07 on Friday. Comerica has a 52 week low of $37.00 and a 52 week high of $53.50. The stock’s 50-day moving average is $47.68 and its 200-day moving average is $47.54. The company has a market cap of $8.551 billion and a price-to-earnings ratio of 16.27.
Comerica (NYSE:CMA) last released its earnings data on Tuesday, April 15th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.72 by $0.01. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts expect that Comerica will post $3.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, June 11th. This is a boost from Comerica’s previous quarterly dividend of $0.19.
Comerica Incorporated (NYSE:CMA) is a financial services company.
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