Comerica Inc. (CMA) Rating Reiterated by Keefe, Bruyette & Woods
Comerica Inc. (NYSE:CMA)‘s stock had its “market perform” rating restated by Keefe, Bruyette & Woods in a report released on Wednesday.
A number of other brokerages have also issued reports on CMA. Deutsche Bank AG raised their price target on Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday. FBR & Co downgraded Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 price objective on the stock. in a report on Tuesday. Wedbush initiated coverage on Comerica in a report on Thursday, October 6th. They set a “neutral” rating and a $49.00 price objective on the stock. Credit Agricole SA raised their price objective on Comerica from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, September 6th. Finally, Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. Comerica presently has an average rating of “Hold” and an average target price of $45.04.
Shares of Comerica (NYSE:CMA) traded down 0.04% during midday trading on Wednesday, reaching $48.62. The company had a trading volume of 880,687 shares. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 21.11 and a beta of 1.36. Comerica has a 1-year low of $30.48 and a 1-year high of $49.75. The firm’s 50 day moving average price is $47.04 and its 200-day moving average price is $44.05.
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Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%. Equities research analysts expect that Comerica will post $2.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were paid a dividend of $0.23 per share. This is a positive change from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 1.89%. The ex-dividend date was Tuesday, September 13th. Comerica’s payout ratio is 38.82%.
In other news, insider Paul R. Obermeyer sold 2,302 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $45.92, for a total value of $105,707.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new position in Comerica during the first quarter worth approximately $2,792,000. National Planning Corp acquired a new position in Comerica during the first quarter worth approximately $239,000. Zurich Insurance Group Ltd FI acquired a new position in Comerica during the first quarter worth approximately $960,000. Adage Capital Partners GP L.L.C. boosted its position in 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. Finally, Geode Capital Management LLC boosted its position in 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. Institutional investors and hedge funds own 84.59% of the company’s stock.
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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