Shares of Comerica Incorporated (NYSE:CMA - Get Free Report) have been given a consensus rating of "Hold" by the twenty-two analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $59.62.
CMA has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Comerica from $55.00 to $63.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. StockNews.com lowered shares of Comerica from a "hold" rating to a "sell" rating in a report on Friday, October 11th. Morgan Stanley upped their price objective on Comerica from $61.00 to $63.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Bank of America cut Comerica from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $55.00 to $52.00 in a report on Monday, October 7th. Finally, Robert W. Baird dropped their price target on Comerica from $72.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, June 20th.
View Our Latest Research Report on Comerica
In related news, EVP Christine M. Moore sold 2,545 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company's stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.
Several institutional investors and hedge funds have recently bought and sold shares of CMA. V Square Quantitative Management LLC bought a new stake in shares of Comerica in the 3rd quarter valued at approximately $36,000. Bleakley Financial Group LLC lifted its stake in Comerica by 8.5% during the third quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider's stock worth $268,000 after purchasing an additional 351 shares during the last quarter. CX Institutional acquired a new position in Comerica in the third quarter worth $213,000. Fiduciary Alliance LLC acquired a new stake in shares of Comerica during the third quarter worth $506,000. Finally, Wedmont Private Capital raised its holdings in shares of Comerica by 11.3% during the third quarter. Wedmont Private Capital now owns 7,684 shares of the financial services provider's stock worth $448,000 after purchasing an additional 778 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.
Shares of Comerica stock opened at $62.60 on Friday. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $63.27. The business's fifty day moving average is $57.70 and its two-hundred day moving average is $53.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm has a market cap of $8.30 billion, a PE ratio of 12.45 and a beta of 1.23.
Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company earned $2.01 EPS. Analysts anticipate that Comerica will post 5.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Friday, September 13th. Comerica's dividend payout ratio (DPR) is currently 56.46%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.
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