Comerica Inc. (CMA) Given “Market Perform” Rating at Keefe, Bruyette & Woods
Comerica Inc. (NYSE:CMA)‘s stock had its “market perform” rating restated by investment analysts at Keefe, Bruyette & Woods in a report issued on Wednesday.
A number of other brokerages have also commented on CMA. Deutsche Bank AG boosted their price objective on shares of Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday. FBR & Co lowered shares of Comerica from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research report on Tuesday. Wedbush initiated coverage on shares of Comerica in a research report on Thursday, October 6th. They set a “neutral” rating and a $49.00 price target on the stock. Credit Agricole SA upped their price target on shares of Comerica from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 6th. Finally, Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Two investment 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.04.
Comerica (NYSE:CMA) traded down 0.195% during mid-day trading on Wednesday, reaching $48.545. 662,600 shares of the company’s stock traded hands. The firm has a market cap of $8.44 billion, a PE ratio of 21.079 and a beta of 1.36. Comerica has a 1-year low of $30.48 and a 1-year high of $49.75. The firm has a 50 day moving average of $47.04 and a 200 day moving average of $44.05.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. Analysts forecast that Comerica will post $2.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Tuesday, September 13th. This is an increase from Comerica’s previous quarterly dividend of $0.22. Comerica’s dividend payout ratio is currently 38.82%.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Comerica during the second quarter valued at approximately $58,616,000. Adage Capital Partners GP L.L.C. increased its stake in shares of 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 during the period. Teachers Advisors Inc. increased its stake in shares of Comerica by 70.1% in the second quarter. Teachers Advisors Inc. now owns 1,649,833 shares of the financial services provider’s stock valued at $67,858,000 after buying an additional 679,830 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Comerica during the second quarter valued at approximately $27,375,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Comerica by 39.7% in the second quarter. Bank of New York Mellon Corp now owns 2,278,685 shares of the financial services provider’s stock valued at $93,722,000 after buying an additional 647,477 shares during the period. 84.59% of the stock is owned by institutional investors and hedge funds.
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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