Comerica Inc. (NYSE:CMA) shares gapped up prior to trading on Thursday . The stock had previously closed at $39.76, but opened at $39.81. Comerica shares last traded at $40.28, with a volume of 1,414,437 shares traded.

CMA has been the topic of several recent analyst reports. FBR & Co reissued a “buy” rating and issued a $48.00 target price on shares of Comerica in a report on Monday, April 25th. Bank of America Corp. downgraded Comerica from a “neutral” rating to an “underperform” rating and boosted their target price for the stock from $30.48 to $36.00 in a report on Wednesday, June 29th. Credit Agricole SA upgraded shares of Comerica from an “underperform” rating to an “outperform” rating in a research report on Monday, March 14th. Goldman Sachs Group Inc. upgraded shares of Comerica from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $42.00 to $49.00 in a research report on Thursday, May 19th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $41.00 price objective (down previously from $45.00) on shares of Comerica in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.76.

The stock’s 50 day moving average price is $43.48 and its 200 day moving average price is $39.58. The stock has a market cap of $7.09 billion and a P/E ratio of 16.48.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.11. During the same quarter in the previous year, the business posted $0.73 EPS. Equities analysts predict that Comerica Inc. will post $2.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, June 13th. This is a boost from Comerica’s previous quarterly dividend of $0.21.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in CMA. Russell Frank Co boosted its position in Comerica by 33.4% in the fourth quarter. Russell Frank Co now owns 370,624 shares of the financial services provider’s stock valued at $15,558,000 after buying an additional 92,823 shares during the period. Strs Ohio boosted its position in Comerica by 4.8% in the fourth quarter. Strs Ohio now owns 23,938 shares of the financial services provider’s stock valued at $1,001,000 after buying an additional 1,107 shares during the period. Nationwide Fund Advisors boosted its position in Comerica by 9.2% in the fourth quarter. Nationwide Fund Advisors now owns 130,712 shares of the financial services provider’s stock valued at $5,468,000 after buying an additional 10,973 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Comerica by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,847 shares of the financial services provider’s stock valued at $1,290,000 after buying an additional 100 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in Comerica by 3.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 117,245 shares of the financial services provider’s stock valued at $4,904,000 after buying an additional 3,363 shares during the period.

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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