Comerica (CMA) Receives “Hold” Rating from BMO Capital Markets
BMO Capital Markets reiterated their hold rating on shares of Comerica (NYSE:CMA) in a research note released on Wednesday. The brokerage currently has a $91.00 target price on the financial services provider’s stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Comerica from a buy rating to a hold rating in a report on Tuesday, December 19th. Morgan Stanley reaffirmed an equal weight rating and set a $90.00 price target on shares of Comerica in a report on Wednesday, December 13th. Piper Jaffray Companies raised Comerica to a buy rating and set a $98.00 price target for the company in a report on Friday, December 8th. B. Riley reaffirmed a buy rating and set a $84.00 price target on shares of Comerica in a report on Monday, December 4th. Finally, ValuEngine downgraded Comerica from a buy rating to a hold rating in a report on Friday, December 1st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. Comerica presently has an average rating of Hold and an average price target of $84.24.
Comerica (NYSE CMA) opened at $87.74 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $15,270.00, a P/E ratio of 19.90, a P/E/G ratio of 2.01 and a beta of 1.50. Comerica has a fifty-two week low of $64.04 and a fifty-two week high of $88.22.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the prior year, the company earned $0.84 earnings per share. equities analysts anticipate that Comerica will post 4.84 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, December 14th. Comerica’s payout ratio is 27.21%.
In other news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Comerica by 6.7% in the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Comerica by 0.5% during the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares during the last quarter. State Street Corp boosted its stake in shares of Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after acquiring an additional 1,010,965 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after acquiring an additional 1,681,640 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Comerica by 1.6% during the second quarter. TIAA CREF Investment Management LLC now owns 2,204,216 shares of the financial services provider’s stock valued at $161,437,000 after acquiring an additional 34,144 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.
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Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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