Comerica Inc. (CMA) Shares Gap Up to $42.72
Comerica Inc. (NYSE:CMA) gapped up before the market opened 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 traded.
Several equities research analysts have recently issued reports on CMA shares. Zacks Investment Research downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Robert W. Baird reissued a “buy” rating on shares of Comerica in a research report on Wednesday, April 27th. BMO Capital Markets reissued a “hold” rating on shares of Comerica in a research report on Thursday, March 31st. Royal Bank Of Canada increased their price objective on shares of Comerica from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Comerica from $40.00 to $42.50 and gave the stock a “neutral” rating in a report on Wednesday, April 20th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.76.
The stock has a market cap of $7.65 billion and a PE ratio of 17.77. The company’s 50-day moving average is $42.95 and its 200-day moving average is $39.63.
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 Zacks’ consensus estimate of $0.45 by $0.11. During the same period in the previous year, the firm earned $0.73 EPS. On average, equities research analysts predict that Comerica Inc. will post $2.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were issued a $0.22 dividend. This is an increase from Comerica’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, June 13th.
Several institutional investors recently modified their holdings of CMA. Gabelli Funds LLC increased its position in shares of Comerica by 3.7% in the fourth quarter. Gabelli Funds LLC now owns 28,000 shares of the financial services provider’s stock worth $1,171,000 after buying an additional 1,000 shares during the period. Gamco Investors INC. ET AL increased its position in shares of 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 worth $7,040,000 after buying an additional 700 shares during the period. OppenheimerFunds Inc. increased its position in shares of Comerica by 0.8% in the fourth quarter. OppenheimerFunds Inc. now owns 702,117 shares of the financial services provider’s stock worth $29,370,000 after buying an additional 5,391 shares during the period. New York State Common Retirement Fund increased its position in shares of 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 worth $21,912,000 after buying an additional 3,300 shares during the period. Finally, Stevens Capital Management LP bought a new position in shares of Comerica during the fourth quarter worth $1,846,000.
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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