Comerica Incorporated (CMA) Rating Reiterated by Jefferies Group LLC
A number of other equities analysts have also weighed in on CMA. Wedbush lifted their target price on shares of Comerica from $58.00 to $61.00 and gave the stock a neutral rating in a research note on Wednesday, November 30th. FBR & Co reaffirmed a market perform rating on shares of Comerica in a research note on Tuesday, January 17th. Sanford C. Bernstein reaffirmed a market perform rating on shares of Comerica in a research note on Wednesday, December 28th. Bank of America Corp raised shares of Comerica from an underperform rating to a neutral rating in a research note on Thursday, December 15th. Finally, Keefe, Bruyette & Woods raised shares of Comerica from a market perform rating to an outperform rating and lifted their target price for the stock from $53.00 to $68.00 in a research note on Tuesday, November 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $58.47.
Shares of Comerica (NYSE:CMA) opened at 68.71 on Tuesday. The stock has a market capitalization of $12.08 billion, a P/E ratio of 25.64 and a beta of 1.43. The stock has a 50 day moving average price of $69.13 and a 200 day moving average price of $64.63. Comerica has a 52 week low of $36.82 and a 52 week high of $75.00.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, April 18th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.10. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The business had revenue of $741 million for the quarter, compared to analyst estimates of $735.06 million. During the same quarter last year, the business earned $0.34 earnings per share. On average, equities research analysts expect that Comerica will post $4.35 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Wednesday, March 15th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, March 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.34%. Comerica’s payout ratio is currently 34.33%.
In related news, Director De Ven Michael G. Van purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was acquired at an average price of $69.14 per share, for a total transaction of $345,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David E. Duprey sold 59,000 shares of the stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $67.82, for a total transaction of $4,001,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,403 shares of company stock valued at $7,075,034. 1.60% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. National Planning Corp increased its position in shares of Comerica by 0.3% in the fourth quarter. National Planning Corp now owns 5,723 shares of the financial services provider’s stock worth $385,000 after buying an additional 18 shares in the last quarter. M&T Bank Corp increased its position in shares of Comerica by 2.0% in the third quarter. M&T Bank Corp now owns 13,211 shares of the financial services provider’s stock worth $625,000 after buying an additional 254 shares in the last quarter. SRB Corp increased its position in shares of Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock worth $161,000 after buying an additional 287 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Comerica by 0.7% in the third quarter. Nisa Investment Advisors LLC now owns 44,525 shares of the financial services provider’s stock worth $2,107,000 after buying an additional 300 shares in the last quarter. Finally, United Capital Financial Advisers LLC increased its position in shares of Comerica by 7.0% in the fourth quarter. United Capital Financial Advisers LLC now owns 6,267 shares of the financial services provider’s stock worth $427,000 after buying an additional 410 shares in the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.
Comerica Company Profile
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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