Comerica Inc. (CMA) Decreased by the Sandler O’Neill

Comerica Inc. (CMA) Decreased by the Sandler O’Neill

Comerica Inc. (NYSE:CMA) was downgraded by equities researchers at Sandler O’Neill from a “buy” rating to a “hold” rating in a report issued on Monday, The Fly reports.

A number of other research analysts also recently issued reports on CMA. Leerink Swann restated a “buy” rating on shares of Comerica in a research report on Sunday, July 17th. FBR & Co boosted their target price on shares of Comerica from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 20th. Compass Point boosted their target price on shares of Comerica from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Royal Bank Of Canada boosted their target price on shares of Comerica from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday, July 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $43.00 target price (up previously from $41.00) on shares of Comerica in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $46.54.

Shares of Comerica (NYSE:CMA) opened at 57.83 on Monday. The stock’s 50 day moving average is $50.22 and its 200 day moving average is $45.98. Comerica has a 12 month low of $30.48 and a 12 month high of $58.18. The company has a market cap of $9.96 billion, a P/E ratio of 24.11 and a beta of 1.35.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.10. Comerica had a net margin of 14.97% and a return on equity of 6.36%. During the same period in the prior year, the company posted $0.74 EPS. On average, analysts anticipate that Comerica will post $2.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 13th. Comerica’s payout ratio is 37.25%.

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 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 is available through the SEC website. Also, insider Michael T. Ritchie sold 2,362 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $50.90, for a total transaction of $120,225.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,129 shares during the period. 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 valued at $118,000 after buying an additional 1,611 shares during the period. BKS Advisors LLC bought a new position in Comerica during the third quarter valued at $120,000. Pacer Advisors Inc. boosted its position in Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock valued at $122,000 after buying an additional 244 shares during the period. Finally, Tredje AP fonden boosted its position in Comerica by 733.9% in the second quarter. Tredje AP fonden now owns 4,920 shares of the financial services provider’s stock valued at $202,000 after buying an additional 4,330 shares during the period. Institutional investors own 86.12% 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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