Comerica Incorporated (NYSE:CMA) has been assigned an average recommendation of “Hold” from the twenty-five analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $78.42.
Several research firms have recently commented on CMA. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target (up previously from $76.00) on shares of Comerica in a research report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $76.00 price target on shares of Comerica in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $82.00 price target on shares of Comerica in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Nomura upped their price target on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. Insiders sold a total of 10,724 shares of company stock valued at $788,788 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CMA. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Comerica by 0.3% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,315 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 8 shares during the last quarter. Smithfield Trust Co. boosted its position in shares of Comerica by 2,446.0% during the 2nd quarter. Smithfield Trust Co. now owns 2,546 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 2,446 shares during the last quarter. IBM Retirement Fund bought a new position in shares of Comerica during the 3rd quarter valued at approximately $200,000. Zeke Capital Advisors LLC bought a new position in shares of Comerica during the 3rd quarter valued at approximately $200,000. Finally, Regentatlantic Capital LLC bought a new position in shares of Comerica during the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 82.17% of the company’s stock.
Shares of Comerica (NYSE:CMA) traded down $0.40 during trading hours on Friday, reaching $79.40. The company’s stock had a trading volume of 1,171,100 shares, compared to its average volume of 1,699,214. Comerica has a fifty-two week low of $61.01 and a fifty-two week high of $80.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $13,878.42, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.82 and a beta of 1.50.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The business had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. During the same quarter in the previous year, the firm earned $0.84 EPS. sell-side analysts anticipate that Comerica will post 4.86 EPS for the current year.
Comerica declared that its board has authorized a stock buyback program on Tuesday, July 25th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be paid a $0.30 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.51%. Comerica’s payout ratio is 27.15%.
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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