Comerica Inc. (CMA) Shares Gap Up to $42.72
Comerica Inc. (NYSE:CMA) shares gapped up prior to trading on Thursday . The stock had previously closed at $42.49, but opened at $42.72. Comerica shares last traded at $43.52, with a volume of 711,658 shares.
Several research analysts have commented on the company. Credit Suisse Group AG restated a “hold” rating and issued a $37.00 target price on shares of Comerica in a research note on Tuesday. Nomura Holdings Inc. restated a “hold” rating on shares of Comerica in a research note on Saturday, July 9th. Barclays PLC reiterated a “sell” rating on shares of Comerica in a research report on Saturday, July 9th. Wells Fargo & Co. upgraded Comerica from an “underperform” rating to a “market perform” rating in a research report on Friday, July 8th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. dropped their price target on Comerica from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company’s stock. Comerica has an average rating of “Hold” and an average target price of $42.76.
The company has a market cap of $7.64 billion and a price-to-earnings ratio of 17.75. The company has a 50 day moving average of $43.03 and a 200-day moving average of $39.62.
Comerica (NYSE:CMA) last posted its quarterly earnings data 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 last year, the company earned $0.73 earnings per share. On average, analysts anticipate that Comerica Inc. will post $2.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.02%. This is a boost from Comerica’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 13th.
Several large investors recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its stake in Comerica by 0.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 168,300 shares of the financial services provider’s stock valued at $7,040,000 after buying an additional 700 shares during the last quarter. OppenheimerFunds Inc. raised its stake in Comerica by 0.8% in the fourth quarter. OppenheimerFunds Inc. now owns 702,117 shares of the financial services provider’s stock valued at $29,370,000 after buying an additional 5,391 shares during the last quarter. New York State Common Retirement Fund raised its stake in Comerica by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 523,831 shares of the financial services provider’s stock valued at $21,912,000 after buying an additional 3,300 shares during the last quarter. Stevens Capital Management LP bought a new stake in Comerica during the fourth quarter valued at about $1,846,000. Finally, ProShare Advisors LLC raised its stake in Comerica by 6.0% in the fourth quarter. ProShare Advisors LLC now owns 54,140 shares of the financial services provider’s stock valued at $2,265,000 after buying an additional 3,062 shares during the last quarter.
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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