Today: Jefferies Group Upgraded Comerica Inc. (CMA) to “Buy”

Today: Jefferies Group Upgraded Comerica Inc. (CMA) to “Buy”

Comerica Inc. (NYSE:CMA) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other brokerages have also recently weighed in on CMA. Sandler O’Neill cut Comerica from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Robert W. Baird cut Comerica from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Thursday, November 10th. RBC Capital Markets reissued an “outperform” rating and issued a $56.00 price target (up previously from $49.00) on shares of Comerica in a research note on Friday, October 21st. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday, October 21st. Finally, BMO Capital Markets reissued a “hold” rating on shares of Comerica in a research note on Friday, October 21st. Two 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. The company has an average rating of “Hold” and a consensus target price of $46.39.

Shares of Comerica (NYSE:CMA) opened at 62.16 on Monday. The stock has a 50 day moving average price of $53.72 and a 200-day moving average price of $47.10. Comerica has a 52 week low of $30.48 and a 52 week high of $62.44. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 25.91 and a beta of 1.35.

Comerica (NYSE:CMA) last issued its earnings results on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $0.74 earnings per share. On average, equities research analysts forecast that Comerica will post $2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, December 13th. Comerica’s dividend payout ratio (DPR) is presently 37.25%.

In related news, insider Michael T. Ritchie sold 2,362 shares of Comerica stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $50.90, for a total transaction of $120,225.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Muneera S. Carr sold 1,986 shares of Comerica stock in a transaction on 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 insiders.

A number of large investors have recently bought and sold shares of the stock. Shell Asset Management Co. raised its stake in Comerica by 39.5% in the second quarter. Shell Asset Management Co. now owns 12,838 shares of the financial services provider’s stock valued at $528,000 after buying an additional 3,635 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Comerica by 48.9% in the second quarter. Meeder Asset Management Inc. now owns 39,193 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 12,866 shares in the last quarter. Oakbrook Investments LLC raised its stake in Comerica by 13.2% in the second quarter. Oakbrook Investments LLC now owns 23,150 shares of the financial services provider’s stock valued at $952,000 after buying an additional 2,700 shares in the last quarter. Clarkston Capital Partners LLC raised its stake in Comerica by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 9,480 shares of the financial services provider’s stock valued at $390,000 after buying an additional 55 shares in the last quarter. Finally, Telemus Capital LLC raised its stake in Comerica by 111.0% in the second quarter. Telemus Capital LLC now owns 17,929 shares of the financial services provider’s stock valued at $737,000 after buying an additional 9,431 shares in the last quarter. 81.32% of the stock is owned by institutional investors.

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