Comerica Inc. (CMA) PT Raised to $45.00
Comerica Inc. (NYSE:CMA) had its price objective raised by analysts at Barclays PLC from $42.00 to $45.00 in a report released on Thursday. The firm presently has an “underweight” rating on the financial services provider’s stock. Barclays PLC’s target price indicates a potential downside of 1.88% from the company’s previous close.
Other analysts have also issued reports about the stock. Nomura restated a “hold” rating on shares of Comerica in a research report on Saturday, July 9th. Deutsche Bank AG restated a “hold” rating on shares of Comerica in a research report on Saturday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Comerica from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Leerink Swann restated a “buy” rating on shares of Comerica in a research report on Sunday, July 17th. Finally, Zacks Investment Research upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $44.42.
Shares of Comerica (NYSE:CMA) traded up 1.18% during trading on Thursday, hitting $46.40. 354,311 shares of the stock were exchanged. The firm has a 50 day moving average of $46.01 and a 200-day moving average of $42.71. Comerica has a 52-week low of $30.48 and a 52-week high of $47.70. The stock has a market cap of $8.07 billion, a PE ratio of 20.15 and a beta of 1.36.
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Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. Equities research analysts anticipate that Comerica will post $2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 15th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, September 13th. This is a boost from Comerica’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.01%. Comerica’s dividend payout ratio is presently 38.82%.
In other news, insider Paul R. Obermeyer sold 2,302 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $45.92, for a total value of $105,707.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC boosted its position in Comerica by 128.8% in the second quarter. Global X Management Co. LLC now owns 2,862 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,611 shares during the last quarter. Pacer Advisors Inc. raised its stake in Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares during the period. Tredje AP fonden raised its stake in Comerica by 733.9% in the second quarter. Tredje AP fonden now owns 4,920 shares of the financial services provider’s stock worth $202,000 after buying an additional 4,330 shares during the period. American National Registered Investment Advisor Inc. acquired a new stake in Comerica during the second quarter worth $206,000. Finally, Dillon & Associates Inc. acquired a new stake in Comerica during the second quarter worth $211,000. Hedge funds and other institutional investors own 84.62% of the company’s stock.
Comerica Company Profile
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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