Comerica Inc. (CMA) Shares Gap Up to $39.81
Comerica Inc. (NYSE:CMA) 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 changing hands.
A number of brokerages have recently issued reports on CMA. Deutsche Bank AG reaffirmed a “hold” rating on shares of Comerica in a report on Saturday, March 12th. JPMorgan Chase & Co. decreased their price target on shares of Comerica from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Co. upgraded shares of Comerica from an “underperform” rating to a “market perform” rating in a research note on Friday. They noted that the move was a valuation call. TheStreet upgraded shares of Comerica from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $37.00 price target on shares of Comerica in a research note on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.76.
The company has a market capitalization of $7.27 billion and a price-to-earnings ratio of 16.89. The company’s 50-day moving average is $43.39 and its 200 day moving average is $39.58.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.11. During the same quarter in the prior year, the company earned $0.73 EPS. On average, analysts expect that Comerica Inc. will post $2.48 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.12%. This is a boost from Comerica’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 13th.
Several hedge funds have bought and sold shares of the stock. Schroder Investment Management Group raised its stake in Comerica by 169.8% in the fourth quarter. Schroder Investment Management Group now owns 1,715,700 shares of the financial services provider’s stock valued at $71,768,000 after buying an additional 1,079,900 shares during the period. Morgan Stanley raised its stake in Comerica by 399.1% in the fourth quarter. Morgan Stanley now owns 876,275 shares of the financial services provider’s stock valued at $36,653,000 after buying an additional 700,708 shares during the period. Vanguard Group Inc. raised its stake in Comerica by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 14,610,631 shares of the financial services provider’s stock valued at $611,164,000 after buying an additional 388,722 shares during the period. Winton Capital Group Ltd raised its stake in Comerica by 474.5% in the fourth quarter. Winton Capital Group Ltd now owns 317,258 shares of the financial services provider’s stock valued at $13,271,000 after buying an additional 262,037 shares during the period. Finally, Standard Life Investments LTD raised its stake in Comerica by 14.9% in the fourth quarter. Standard Life Investments LTD now owns 1,137,433 shares of the financial services provider’s stock valued at $47,556,000 after buying an additional 147,633 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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