Comerica Incorporated (NYSE:CMA) has been given an average recommendation of “Hold” by the twenty-eight brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $102.17.
A number of equities research analysts recently issued reports on the company. B. Riley upped their target price on Comerica from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $108.00 target price (up previously from $106.00) on shares of Comerica in a research note on Tuesday, July 17th. Morgan Stanley upped their target price on Comerica from $108.00 to $111.00 and gave the company an “equal weight” rating in a research note on Thursday, July 26th. Vining Sparks reaffirmed a “buy” rating and issued a $107.00 target price on shares of Comerica in a research note on Tuesday. Finally, Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th.
CMA stock opened at $84.73 on Wednesday. Comerica has a 1 year low of $74.16 and a 1 year high of $102.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $15.46 billion, a P/E ratio of 17.91, a P/E/G ratio of 0.56 and a beta of 1.42.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26. Comerica had a return on equity of 13.14% and a net margin of 27.28%. The firm had revenue of $838.00 million for the quarter, compared to analyst estimates of $833.59 million. During the same quarter in the prior year, the company earned $1.13 EPS. Comerica’s revenue was up 8.0% on a year-over-year basis. Analysts expect that Comerica will post 7.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Thursday, September 13th. This is a positive change from Comerica’s previous quarterly dividend of $0.34. Comerica’s dividend payout ratio is currently 50.74%.
In other Comerica news, EVP Christine M. Moore sold 4,800 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $98.41, for a total transaction of $472,368.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.83% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Financial Gravity Wealth Inc. purchased a new position in shares of Comerica in the 1st quarter worth $155,000. Point72 Asia Hong Kong Ltd raised its position in shares of Comerica by 47.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,855 shares of the financial services provider’s stock worth $178,000 after buying an additional 594 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Comerica in the 2nd quarter worth $183,000. CENTRAL TRUST Co raised its position in shares of Comerica by 588.2% in the 2nd quarter. CENTRAL TRUST Co now owns 2,340 shares of the financial services provider’s stock worth $213,000 after buying an additional 2,000 shares during the period. Finally, NumerixS Investment Technologies Inc raised its position in shares of Comerica by 59.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,400 shares of the financial services provider’s stock worth $219,000 after buying an additional 896 shares during the period. 81.32% of the stock is currently owned by institutional investors.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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