Comerica Inc. (CMA) Reaches New 12-Month High at $47.61
Comerica Inc. (NYSE:CMA) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.61 and last traded at $47.58, with a volume of 1,660,100 shares. The stock had previously closed at $47.03.
Several research analysts recently issued reports on the stock. Barclays PLC reissued a “sell” rating on shares of Comerica in a research report on Saturday, July 9th. Nomura reissued a “hold” rating on shares of Comerica in a research report on Saturday, July 9th. Leerink Swann reissued a “buy” rating on shares of Comerica in a research report on Sunday, July 17th. Deutsche Bank AG reissued a “hold” rating on shares of Comerica in a research report on Saturday, June 4th. Finally, Goldman Sachs Group Inc. raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $49.00 price target for the company in a research report on Thursday, May 26th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus target price of $43.91.
The company has a 50 day moving average price of $45.61 and a 200 day moving average price of $41.95. The company has a market cap of $8.27 billion and a price-to-earnings ratio of 20.66.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Equities research analysts predict 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. Investors of record on Thursday, September 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Tuesday, September 13th. This is a boost from Comerica’s previous quarterly dividend of $0.22.
In related news, insider Paul R. Obermeyer sold 2,302 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
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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