Comerica Inc. (CMA) Lowered to “Market Perform” at FBR & Co
Comerica Inc. (NYSE:CMA) was downgraded by research analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.
A number of other equities analysts also recently weighed in on CMA. Nomura reaffirmed a “hold” rating on shares of Comerica in a research note on Saturday, July 9th. Barclays PLC reaffirmed a “sell” rating on shares of Comerica in a research note on Saturday, July 9th. Leerink Swann reaffirmed a “buy” rating on shares of Comerica in a research note on Sunday, July 17th. Zacks Investment Research raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $49.00 price target (up from $46.00) on shares of Comerica in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus target price of $44.67.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share 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%.
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The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 13th. This is a boost from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 1.86%. Comerica’s dividend payout ratio (DPR) is presently 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total value of $105,707.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. RS Investment Management Co. LLC boosted its position in shares of Comerica by 13.5% in the second quarter. RS Investment Management Co. LLC now owns 881,365 shares of the financial services provider’s stock worth $36,251,000 after buying an additional 104,950 shares in the last quarter. Washington Trust Bank boosted its position in shares of Comerica by 5.4% in the second quarter. Washington Trust Bank now owns 55,097 shares of the financial services provider’s stock worth $2,266,000 after buying an additional 2,798 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Comerica by 440.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,678,296 shares of the financial services provider’s stock worth $63,557,000 after buying an additional 1,367,896 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Comerica by 0.5% in the first quarter. Geode Capital Management LLC now owns 1,422,637 shares of the financial services provider’s stock worth $53,764,000 after buying an additional 6,752 shares in the last quarter. Finally, AXA purchased a new position in shares of Comerica during the first quarter worth $602,000. 84.59% of the stock is currently owned by hedge funds and other institutional investors.
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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