Comerica Incorporated (CMA) Given Consensus Recommendation of “Hold” by Analysts
Comerica Incorporated (NYSE:CMA) has earned an average recommendation of “Hold” from the twenty-four brokerages that are covering the firm. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $64.75.
CMA has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods set a $73.00 price objective on shares of Comerica and gave the company a “buy” rating in a research note on Tuesday, April 18th. Royal Bank of Canada reiterated a “buy” rating and set a $78.00 price objective on shares of Comerica in a research note on Tuesday, April 4th. Jefferies Group LLC reiterated a “buy” rating and set a $81.00 price objective on shares of Comerica in a research note on Tuesday, April 4th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, March 21st. Finally, Sandler O’Neill downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st.
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In other Comerica news, CEO Ralph W. Babb, Jr. sold 83,600 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $70.94, for a total transaction of $5,930,584.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC bought a new position in Comerica during the first quarter valued at approximately $111,000. Parallel Advisors LLC bought a new position in Comerica during the fourth quarter valued at approximately $112,000. Oppenheimer Asset Management Inc. bought a new position in Comerica during the first quarter valued at approximately $127,000. Point72 Asia Hong Kong Ltd boosted its position in Comerica by 19.3% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,996 shares of the financial services provider’s stock valued at $137,000 after buying an additional 323 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Comerica by 6,744.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 156,593 shares of the financial services provider’s stock valued at $157,000 after buying an additional 154,305 shares during the last quarter. 81.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Comerica (NYSE:CMA) traded up 0.22% during midday trading on Friday, reaching $69.22. 1,068,055 shares of the company traded hands. The firm has a market capitalization of $12.25 billion, a P/E ratio of 20.06 and a beta of 1.43. Comerica has a 12 month low of $36.82 and a 12 month high of $75.00. The company has a 50 day moving average of $69.46 and a 200 day moving average of $68.13.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.10. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The firm had revenue of $741 million for the quarter, compared to the consensus estimate of $735.06 million. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities research analysts predict that Comerica will post $4.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.26 per share. This is a boost from Comerica’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.04 annualized dividend and a yield of 1.50%. Comerica’s dividend payout ratio (DPR) is presently 34.33%.
Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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