Comerica Inc. (CMA) Stock Rating Upgraded by Jefferies Group
Comerica Inc. (NYSE:CMA) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
Other equities analysts have also issued reports about the company. Goldman Sachs Group Inc. raised Comerica from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a report on Friday, September 16th. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, October 21st. Deutsche Bank AG increased their price objective on Comerica from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. BMO Capital Markets reissued a “hold” rating on shares of Comerica in a report on Friday, October 21st. Finally, Sandler O’Neill lowered Comerica from a “buy” rating to a “hold” rating in a report on Monday, November 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. Comerica currently has an average rating of “Hold” and an average price target of $46.39.
Shares of Comerica (NYSE:CMA) opened at 61.75 on Monday. Comerica has a 52-week low of $30.48 and a 52-week high of $62.50. The firm’s 50-day moving average price is $54.07 and its 200-day moving average price is $47.29. The firm has a market capitalization of $10.64 billion, a PE ratio of 25.74 and a beta of 1.35.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 18th. The financial services provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Comerica had a return on equity of 6.36% and a net margin of 14.97%. During the same quarter last year, the firm earned $0.74 earnings per share. On average, equities analysts predict that Comerica will post $2.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, December 13th. Comerica’s dividend payout ratio (DPR) is 37.25%.
In other Comerica news, EVP Muneera S. Carr sold 1,986 shares of the company’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $51.07, for a total transaction of $101,425.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Megan D. Burkhart sold 4,373 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $60.72, for a total transaction of $265,528.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CMA. Tower Research Capital LLC TRC boosted its stake in Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,129 shares during the period. Global X Management Co. LLC boosted its stake in Comerica by 128.8% in the second quarter. Global X Management Co. LLC now owns 2,862 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,611 shares during the period. BKS Advisors LLC purchased a new stake in Comerica during the third quarter worth about $120,000. Pacer Advisors Inc. boosted its stake in Comerica by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,966 shares of the financial services provider’s stock worth $122,000 after buying an additional 244 shares during the period. Finally, SRB Corp boosted its stake in Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock worth $161,000 after buying an additional 287 shares during the period. Institutional investors own 81.32% of the company’s stock.
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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