Shares of Comerica Inc. (NYSE:CMA) gapped up prior to trading on Monday . The stock had previously closed at $45.01, but opened at $45.19. Comerica shares last traded at $45.98, with a volume of 562,236 shares traded.

Several analysts have recently commented on CMA shares. Raymond James Financial Inc. upgraded shares of Comerica from a “market perform” rating to an “outperform” rating in a research note on Monday, May 9th. Royal Bank Of Canada raised their target price on shares of Comerica from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Bank of America Corp. cut shares of Comerica from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $30.48 to $36.00 in a research note on Wednesday, June 29th. Barclays PLC raised their target price on shares of Comerica from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 20th. Finally, Goldman Sachs Group Inc. upgraded shares of Comerica from a “sell” rating to a “neutral” rating and set a $49.00 target price for the company in a research note on Thursday, May 26th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.96.

The stock has a market cap of $8.02 billion and a price-to-earnings ratio of 20.02. The company has a 50-day moving average price of $43.53 and a 200-day moving average price of $40.85.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 analysts anticipate that Comerica Inc. will post $2.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.92 annualized dividend and a yield of 2.00%. This is a boost from Comerica’s previous quarterly dividend of $0.22.

A number of hedge funds recently bought and sold shares of the company. Utah Retirement Systems increased its stake in Comerica by 0.3% in the fourth quarter. Utah Retirement Systems now owns 31,896 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 100 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in shares of Comerica by 9.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 57,372 shares of the financial services provider’s stock worth $2,403,000 after buying an additional 5,128 shares in the last quarter. KBC Group NV increased its position in shares of 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 in the last quarter. Bank of Montreal Can increased its position in shares of Comerica by 48.1% in the fourth quarter. Bank of Montreal Can now owns 70,314 shares of the financial services provider’s stock worth $2,942,000 after buying an additional 22,828 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of Comerica by 90.3% in the fourth quarter. Trexquant Investment LP now owns 72,300 shares of the financial services provider’s stock worth $3,024,000 after buying an additional 34,300 shares in 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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