Somewhat Positive News Coverage Somewhat Unlikely to Affect Comerica (CMA) Stock Price
Press coverage about Comerica (NYSE:CMA) has trended somewhat positive on Sunday, according to Accern Sentiment Analysis. The research group identifies positive and negative press coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Comerica earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 45.7382390526914 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Jefferies Group LLC Reiterates Buy Rating for Comerica Incorporated (CMA) (americanbankingnews.com)
- Comerica Incorporated (CMA) Stock Rating Reaffirmed by Sanford C. Bernstein (americanbankingnews.com)
- $10K Grant from Comerica Bank and FHLB Dallas to Benefit PowHer Play – Business Wire (press release) (businesswire.com)
- Comerica Incorporated : Announces Adjustments for Legacy Sterling Warrants (4-traders.com)
- Equities Analysts Offer Predictions for Comerica Incorporated’s FY2018 Earnings (CMA) (americanbankingnews.com)
Shares of Comerica (CMA) traded up 1.33% on Friday, reaching $69.09. The company’s stock had a trading volume of 2,822,577 shares. The stock has a market cap of $12.15 billion, a PE ratio of 17.26 and a beta of 1.49. Comerica has a 1-year low of $45.14 and a 1-year high of $75.72. The company’s 50 day moving average is $69.96 and its 200-day moving average is $70.65.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $777.08 million. Comerica had a return on equity of 9.60% and a net margin of 23.22%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. On average, equities analysts predict that Comerica will post $4.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Comerica’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 14th. Comerica’s payout ratio is 30.00%.
Comerica announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $605.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently commented on CMA shares. Instinet reaffirmed a “neutral” rating and set a $71.00 target price (up from $68.00) on shares of Comerica in a report on Wednesday, July 12th. Barclays PLC reaffirmed an “underweight” rating and set a $76.00 target price (up from $72.00) on shares of Comerica in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $75.00 target price (up from $71.00) on shares of Comerica in a report on Thursday, July 6th. BidaskClub downgraded Comerica from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, FBR & Co set a $79.00 target price on Comerica and gave the company a “buy” rating in a report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $76.19.
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In other news, insider Judith S. Love sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $69.74, for a total value of $1,464,540.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter William Guilfoile sold 2,928 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $69.50, for a total value of $203,496.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,249 shares of company stock worth $3,095,383. Corporate insiders own 1.10% of the company’s stock.
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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