Barclays Reiterates Sell Rating for Comerica (CMA)
Barclays restated their sell rating on shares of Comerica (NYSE:CMA) in a research report released on Thursday morning. They currently have a $102.00 target price on the financial services provider’s stock.
Other analysts have also recently issued reports about the company. ValuEngine cut Comerica from a buy rating to a hold rating in a research note on Wednesday. DA Davidson reissued a hold rating and issued a $100.00 target price on shares of Comerica in a research note on Wednesday, January 17th. Zacks Investment Research raised Comerica from a hold rating to a buy rating and set a $105.00 target price on the stock in a research note on Tuesday, April 3rd. Susquehanna Bancshares set a $99.00 target price on Comerica and gave the stock a hold rating in a research note on Tuesday, April 10th. Finally, SunTrust Banks reissued a hold rating and issued a $86.00 target price on shares of Comerica in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $97.06.
CMA opened at $95.49 on Thursday. The stock has a market capitalization of $16,501.91, a PE ratio of 18.22, a P/E/G ratio of 1.02 and a beta of 1.38. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70. Comerica has a 12 month low of $64.04 and a 12 month high of $102.66.
The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th were given a $0.30 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. Comerica’s dividend payout ratio is currently 25.37%.
In other news, President Curtis C. Farmer sold 18,870 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $96.08, for a total value of $1,813,029.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Megan D. Burkhart sold 4,670 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total value of $463,264.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,506 shares of company stock worth $20,468,762. Insiders own 0.83% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Driehaus Capital Management LLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $209,000. Westwood Holdings Group Inc. bought a new stake in shares of Comerica in the 4th quarter worth approximately $210,000. JLB & Associates Inc. purchased a new position in Comerica in the 4th quarter worth approximately $217,000. ZWJ Investment Counsel Inc. purchased a new position in Comerica in the 4th quarter worth approximately $217,000. Finally, Gotham Asset Management LLC purchased a new position in Comerica in the 4th quarter worth approximately $218,000. 83.09% of the stock is currently owned by hedge funds and other institutional investors.
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Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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