Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Comerica Inc. (NYSE:CMA) in a research note published on Wednesday.
Several other research firms also recently weighed in on CMA. Zacks Investment Research downgraded Comerica from a hold rating to a sell rating in a report on Tuesday, June 21st. Bank of America Corp. downgraded Comerica from a neutral rating to an underperform rating and raised their price objective for the company from $30.48 to $36.00 in a report on Wednesday, June 29th. Goldman Sachs Group Inc. raised Comerica from a neutral rating to a buy rating and set a $52.00 target price on the stock in a report on Friday, September 16th. FBR & Co downgraded Comerica from an outperform rating to a market perform rating and set a $50.00 target price on the stock. in a report on Tuesday, October 11th. Finally, Credit Agricole SA lifted their target price on Comerica from $50.00 to $53.00 and gave the stock an outperform rating in a report on Tuesday, September 6th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. Comerica currently has an average rating of Hold and an average target price of $45.04.
Comerica (NYSE:CMA) opened at 48.40 on Wednesday. The stock’s 50 day moving average price is $47.25 and its 200 day moving average price is $44.18. Comerica has a 52-week low of $30.48 and a 52-week high of $49.75. The firm has a market capitalization of $8.42 billion, a PE ratio of 21.02 and a beta of 1.36.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Comerica had a net margin of 14.69% and a return on equity of 6.03%. On average, analysts predict that Comerica will post $2.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were paid a $0.23 dividend. This is an increase from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.92 annualized dividend and a yield of 1.90%. Comerica’s dividend payout ratio is presently 38.82%.
In related news, insider Paul R. Obermeyer sold 2,302 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $45.92, for a total value of $105,707.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of CMA. A.R.T. Advisors LLC bought a new stake in Comerica during the first quarter valued at about $2,792,000. National Planning Corp bought a new stake in Comerica during the first quarter valued at about $239,000. Zurich Insurance Group Ltd FI bought a new stake in Comerica during the first quarter valued at about $960,000. Adage Capital Partners GP L.L.C. increased its stake in Comerica by 440.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,678,296 shares of the financial services provider’s stock valued at $63,557,000 after buying an additional 1,367,896 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Comerica by 0.5% in the first quarter. Geode Capital Management LLC now owns 1,422,637 shares of the financial services provider’s stock valued at $53,764,000 after buying an additional 6,752 shares in the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.
Comerica Company Profile