Comerica Inc. (NYSE:CMA) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Monday.
Several other analysts have also recently commented on the company. FBR & Co upped their target price on Comerica from $50.00 to $52.00 and gave the company a “mkt perform” rating in a report on Wednesday, October 19th. Zacks Investment Research upgraded Comerica from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. Robert W. Baird cut Comerica from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Thursday, November 10th. BMO Capital Markets restated a “hold” rating on shares of Comerica in a report on Friday, October 21st. Finally, Goldman Sachs Group Inc. upgraded Comerica from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Friday, September 16th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. Comerica has an average rating of “Hold” and an average target price of $46.39.
Comerica (NYSE:CMA) traded down 1.66% during mid-day trading on Monday, hitting $61.13. 1,405,222 shares of the stock were exchanged. Comerica has a 1-year low of $30.48 and a 1-year high of $62.50. The company has a market capitalization of $10.53 billion, a PE ratio of 25.48 and a beta of 1.35. The stock has a 50 day moving average price of $53.72 and a 200 day moving average price of $47.10.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Comerica had a return on equity of 6.36% and a net margin of 14.97%. During the same period in the prior year, the company earned $0.74 earnings per share. On average, equities analysts anticipate that Comerica will post $2.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $0.92 annualized dividend and a yield of 1.49%. Comerica’s dividend payout ratio is currently 37.25%.
In other news, insider Michael T. Ritchie sold 2,362 shares of Comerica stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $50.90, for a total transaction of $120,225.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Muneera S. Carr sold 1,986 shares of Comerica stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $51.07, for a total value of $101,425.02. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of CMA. RS Investment Management Co. LLC increased its stake in shares of Comerica by 13.5% in the second quarter. RS Investment Management Co. LLC now owns 881,365 shares of the financial services provider’s stock worth $36,251,000 after buying an additional 104,950 shares during the period. Washington Trust Bank increased its stake in shares of Comerica by 5.4% in the second quarter. Washington Trust Bank now owns 55,097 shares of the financial services provider’s stock worth $2,266,000 after buying an additional 2,798 shares during the period. Standard Life Investments LTD increased its stake in shares of Comerica by 0.8% in the second quarter. Standard Life Investments LTD now owns 1,146,354 shares of the financial services provider’s stock worth $47,138,000 after buying an additional 8,835 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of Comerica by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 150,767 shares of the financial services provider’s stock worth $6,201,000 after buying an additional 2,045 shares during the period. Finally, Channing Capital Management LLC acquired a new stake in shares of Comerica during the second quarter worth about $10,684,000. Hedge funds and other institutional investors own 81.32% of the company’s stock.