Comerica (NYSE:CMA) Cut to “Market Perform” at Raymond James
Raymond James cut shares of Comerica (NYSE:CMA) from an outperform rating to a market perform rating in a research note published on Monday, BenzingaRatingsTable reports.
A number of other analysts have also recently issued reports on CMA. Jefferies Financial Group set a $158.00 price objective on HCA Healthcare and gave the company a buy rating in a research report on Wednesday, April 17th. Wedbush lowered their price objective on Hercules Capital from $15.00 to $13.50 and set a hold rating on the stock in a research report on Wednesday, March 13th. Zacks Investment Research cut Granite Point Mortgage Trust from a buy rating to a hold rating in a research report on Tuesday, March 19th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, B. Riley restated a buy rating on shares of PCM in a research report on Tuesday, March 26th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Comerica currently has an average rating of Hold and a consensus price target of $88.10.
CMA opened at $72.55 on Monday. The company has a market capitalization of $11.02 billion, a PE ratio of 10.02, a PEG ratio of 1.25 and a beta of 1.44. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. Comerica has a 1 year low of $63.69 and a 1 year high of $100.64. The company’s 50 day moving average price is $71.01.
The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Thursday, June 13th. Comerica’s dividend payout ratio (DPR) is 37.02%.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $73.49, for a total value of $235,168.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.98% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. First Citizens Bank & Trust Co. boosted its stake in Comerica by 31.4% in the second quarter. First Citizens Bank & Trust Co. now owns 37,548 shares of the financial services provider’s stock worth $2,727,000 after purchasing an additional 8,964 shares in the last quarter. Hexavest Inc. acquired a new position in Comerica in the second quarter worth $16,883,000. Scout Investments Inc. acquired a new position in Comerica in the second quarter worth $13,688,000. Crossmark Global Holdings Inc. boosted its stake in Comerica by 1.7% in the second quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 175 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Comerica by 0.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 840,101 shares of the financial services provider’s stock worth $61,596,000 after purchasing an additional 5,625 shares in the last quarter. 83.43% of the stock is currently owned by institutional investors.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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