Comerica Inc. (NYSE:CMA) Given Average Recommendation of “Hold” by Analysts
Shares of Comerica Inc. (NYSE:CMA) have been assigned a consensus rating of “Hold” from the twenty-nine research firms that are currently covering the stock. Two analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $45.05.
CMA has been the subject of a number of research reports. Bank of America Corp. downgraded Comerica from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $30.48 to $36.00 in a research note on Wednesday, June 29th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, July 25th. Goldman Sachs Group Inc. upgraded Comerica from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Friday, September 16th. Wells Fargo & Co. upgraded Comerica from an “underperform” rating to a “market perform” rating in a research note on Friday, July 8th. They noted that the move was a valuation call. Finally, Credit Agricole SA lifted their price target on Comerica from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th.
In other news, insider Paul R. Obermeyer sold 2,302 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.
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Several institutional investors have recently bought and sold shares of CMA. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Comerica during the second quarter valued at approximately $291,000. Kentucky Retirement Systems bought a new position in Comerica during the second quarter valued at approximately $613,000. Mason Street Advisors LLC bought a new position in Comerica during the second quarter valued at approximately $970,000. Public Employees Retirement System of Ohio boosted its position in Comerica by 42.8% in the second quarter. Public Employees Retirement System of Ohio now owns 47,766 shares of the financial services provider’s stock valued at $1,965,000 after buying an additional 14,314 shares in the last quarter. Finally, Blue Chip Partners Inc. boosted its position in Comerica by 73.5% in the second quarter. Blue Chip Partners Inc. now owns 6,264 shares of the financial services provider’s stock valued at $258,000 after buying an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 84.62% of the company’s stock.
Comerica (NYSE:CMA) traded up 0.85% on Wednesday, hitting $46.54. The stock had a trading volume of 368,425 shares. The stock has a market cap of $8.09 billion, a P/E ratio of 20.21 and a beta of 1.36. Comerica has a one year low of $30.48 and a one year high of $47.70. The company’s 50-day moving average is $46.13 and its 200-day moving average is $43.06.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. On average, analysts anticipate that Comerica will post $2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.23 per share. This is a boost from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 13th. Comerica’s payout ratio is currently 38.82%.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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