Comerica Inc. (CMA) Trading 1.9% Higher
Shares of Comerica Inc. (NYSE:CMA) traded up 1.9% on Tuesday . The stock traded as high as $44.85 and last traded at $44.57, with a volume of 2,032,259 shares traded. The stock had previously closed at $43.73.
Several analysts have recently weighed in on the company. Raymond James Financial Inc. reissued an “outperform” rating on shares of Comerica in a report on Friday, June 3rd. Goldman Sachs Group Inc. upgraded Comerica from a “sell” rating to a “neutral” rating and set a $49.00 target price for the company in a research report on Thursday, May 26th. Deutsche Bank AG restated a “hold” rating on shares of Comerica in a research report on Saturday, June 4th. Robert W. Baird restated a “buy” rating on shares of Comerica in a research report on Wednesday, April 27th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $37.00 target price on shares of Comerica in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $42.76.
The stock has a 50 day moving average of $42.85 and a 200-day moving average of $39.61. The company has a market cap of $7.78 billion and a price-to-earnings ratio of 18.07.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.11. Equities research analysts expect that Comerica Inc. will post $2.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.01%. This is a positive change from Comerica’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 13th.
Other hedge funds and institutional investors recently made changes to their positions in the company. BOKF NA raised its position in shares of Comerica by 0.8% in the fourth quarter. BOKF NA now owns 32,540 shares of the financial services provider’s stock valued at $1,361,000 after buying an additional 253 shares in the last quarter. Azimuth Capital Management LLC increased its position in Comerica by 1.1% in the fourth quarter. Azimuth Capital Management LLC now owns 36,526 shares of the financial services provider’s stock worth $1,528,000 after buying an additional 382 shares during the period. Gamco Investors INC. ET AL increased its position 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 worth $7,040,000 after buying an additional 700 shares during the period. KBC Group NV increased its position in Comerica by 1.3% in the fourth quarter. KBC Group NV now owns 59,382 shares of the financial services provider’s stock worth $2,484,000 after buying an additional 790 shares during the period. Finally, Gabelli Funds LLC increased its position in 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.
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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