Comerica Inc. (CMA) Given “Market Perform” Rating at Keefe, Bruyette & Woods
Comerica Inc. (NYSE:CMA)‘s stock had its “market perform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report released on Wednesday.
Several other research analysts have also commented on the company. Deutsche Bank AG boosted their price objective on Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday. FBR & Co downgraded Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 target price for the company. in a research report on Tuesday. Wedbush assumed coverage on Comerica in a research report on Thursday, October 6th. They issued a “neutral” rating and a $49.00 target price for the company. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, Goldman Sachs Group Inc. upgraded Comerica from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.04.
Shares of Comerica (NYSE:CMA) traded down 0.195% during mid-day trading on Wednesday, hitting $48.545. 662,600 shares of the stock traded hands. Comerica has a 52 week low of $30.48 and a 52 week high of $49.75. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 21.079 and a beta of 1.36. The firm’s 50-day moving average is $47.04 and its 200-day moving average is $44.05.
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Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ 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 forecast that Comerica will post $2.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.89%. This is an increase from Comerica’s previous quarterly dividend of $0.22. Comerica’s dividend payout ratio (DPR) is 38.82%.
In related news, insider Paul R. Obermeyer sold 2,302 shares of the stock in a transaction dated Thursday, August 25th. The stock was 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 Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. British Columbia Investment Management Corp boosted its position in shares of Comerica by 8.8% in the third quarter. British Columbia Investment Management Corp now owns 60,054 shares of the financial services provider’s stock worth $2,842,000 after buying an additional 4,860 shares during the period. First Mercantile Trust Co. raised its stake in shares of Comerica by 85.2% in the third quarter. First Mercantile Trust Co. now owns 17,960 shares of the financial services provider’s stock worth $850,000 after buying an additional 8,260 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Comerica during the second quarter worth about $291,000. Kentucky Retirement Systems purchased a new stake in shares of Comerica during the second quarter worth $613,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Comerica during the second quarter worth $970,000. Institutional investors and hedge funds own 84.59% of the company’s stock.
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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