Recent Research Analysts’ Ratings Updates for Comerica (CMA)
Comerica (NYSE: CMA) recently received a number of ratings updates from brokerages and research firms:
- 10/12/2016 – Comerica had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
- 10/11/2016 – Comerica was downgraded by analysts at FBR & Co from an “outperform” rating to a “market perform” rating. They now have a $50.00 price target on the stock.
- 10/11/2016 – Comerica had its price target raised by analysts at Deutsche Bank AG from $45.00 to $52.00. They now have a “hold” rating on the stock.
- 10/6/2016 – Comerica is now covered by analysts at Wedbush. They set a “neutral” rating and a $49.00 price target on the stock.
- 10/4/2016 – Comerica was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Comerica’s estimates have been stable lately ahead of its third-quarter 2016 earnings release. The company’s growth prospects look promising given its new revenue and efficiency initiatives (GEAR Up). The initiatives are expected to deliver additional annual pre-tax income of around $230 million by year-end 2018, improve efficiency ratio to low-60% by the end of 2017, and a sub-60% efficiency ratio by year-end 2018 (without any increase in interest rates). Further, the initial actions will help in achieving a double-digit return on equity. We expect continuous geographic diversification beyond the company’s traditional and slow-growth Midwest markets to propel growth in the upcoming quarters. However, several issues keep us apprehensive including, regulatory overhangs, exposure in the stressed energy sector and margin pressure amid slow rise in interest rates.”
- 9/16/2016 – Comerica was upgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating. They now have a $52.00 price target on the stock.
- 9/15/2016 – Comerica had its price target raised by analysts at Barclays PLC from $42.00 to $45.00. They now have an “underweight” rating on the stock.
- 9/6/2016 – Comerica had its price target raised by analysts at Credit Agricole SA from $50.00 to $53.00. They now have an “outperform” rating on the stock.
Shares of Comerica Inc. (NYSE:CMA) opened at 48.61 on Thursday. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 21.11 and a beta of 1.36. Comerica Inc. has a 52 week low of $30.48 and a 52 week high of $49.75. The company’s 50-day moving average is $47.12 and its 200 day moving average is $44.08.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share 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%. Analysts anticipate that Comerica Inc. will post $2.41 EPS for the current fiscal year.
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The company also recently announced 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 is an increase from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 1.89%. Comerica’s dividend payout ratio is 38.82%.
In other news, insider Paul R. Obermeyer sold 2,302 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.
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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