Comerica Inc. (CMA) Stock Rating Lowered by Sandler O’Neill
Comerica Inc. (NYSE:CMA) was downgraded by investment analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a research report issued on Monday.
A number of other research analysts have also issued reports on CMA. Leerink Swann restated a “buy” rating on shares of Comerica in a report on Sunday, July 17th. Zacks Investment Research upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. FBR & Co upped their target price on shares of Comerica from $50.00 to $52.00 and gave the company a “mkt perform” rating in a report on Wednesday, October 19th. RBC Capital Markets restated an “outperform” rating and issued a $49.00 target price (up from $46.00) on shares of Comerica in a report on Wednesday, July 20th. Finally, Robert W. Baird lowered shares of Comerica from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. Comerica currently has an average rating of “Hold” and an average target price of $46.54.
Comerica (NYSE:CMA) opened at 60.18 on Monday. The company has a 50 day moving average of $50.22 and a 200-day moving average of $45.98. The firm has a market cap of $10.37 billion, a PE ratio of 25.09 and a beta of 1.35. Comerica has a one year low of $30.48 and a one year high of $58.18.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 EPS for the quarter, beating 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 previous year, the business posted $0.74 EPS. On average, equities research analysts predict that Comerica will post $2.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.53%. Comerica’s dividend payout ratio is presently 37.25%.
In other news, EVP Muneera S. Carr sold 1,986 shares of the business’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $51.07, for a total transaction of $101,425.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul R. Obermeyer sold 2,302 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $45.92, for a total transaction of $105,707.84. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Comerica during the second quarter valued at $58,616,000. Victory Capital Management Inc. increased its stake in Comerica by 305.0% in the third quarter. Victory Capital Management Inc. now owns 1,590,807 shares of the financial services provider’s stock valued at $75,277,000 after buying an additional 1,198,008 shares during the period. Morgan Stanley increased its stake in Comerica by 314.1% in the third quarter. Morgan Stanley now owns 1,362,262 shares of the financial services provider’s stock valued at $64,464,000 after buying an additional 1,033,275 shares during the period. Credit Suisse AG increased its stake in Comerica by 183.2% in the third quarter. Credit Suisse AG now owns 1,595,038 shares of the financial services provider’s stock valued at $75,477,000 after buying an additional 1,031,876 shares during the period. Finally, Teachers Advisors Inc. increased its stake in 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. Institutional investors and hedge funds own 86.12% of the company’s stock.
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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