Comerica Inc. (NYSE:CMA) had its price objective lifted by Wedbush from $58.00 to $61.00 in a research report released on Wednesday. They currently have a neutral rating on the financial services provider’s stock.

CMA has been the topic of a number of other reports. Goldman Sachs Group Inc. raised Comerica from a neutral rating to a buy rating and set a $52.00 price target on the stock in a research note on Friday, September 16th. lifted their price target on Comerica from $50.00 to $53.00 and gave the company an outperform rating in a research note on Tuesday, September 6th. Zacks Investment Research lowered Comerica from a buy rating to a hold rating in a research note on Tuesday, October 4th. FBR & Co lowered Comerica from an outperform rating to a market perform rating and set a $50.00 price target on the stock. in a research note on Tuesday, October 11th. Finally, Barclays PLC lifted their price target on Comerica from $42.00 to $45.00 and gave the company an underweight rating in a research note on Thursday, September 15th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $48.04.

Comerica (NYSE:CMA) opened at 63.75 on Wednesday. Comerica has a 12 month low of $30.48 and a 12 month high of $62.50. The company has a 50 day moving average price of $54.07 and a 200 day moving average price of $47.29. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 26.57 and a beta of 1.35.

Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating the 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 period last year, the firm earned $0.74 EPS. Analysts anticipate that Comerica will post $2.62 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.92 annualized dividend and a yield of 1.44%. Comerica’s dividend payout ratio is currently 37.25%.

In other Comerica news, EVP Megan D. Burkhart sold 4,373 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $60.72, for a total value of $265,528.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael T. Ritchie sold 2,362 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $50.90, for a total value of $120,225.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. RS Investment Management Co. LLC raised its stake in shares of Comerica by 13.5% in the second quarter. RS Investment Management Co. LLC now owns 881,365 shares of the financial services provider’s stock valued at $36,251,000 after buying an additional 104,950 shares during the last quarter. Shell Asset Management Co. raised its stake in shares of Comerica by 39.5% in the second quarter. Shell Asset Management Co. now owns 12,838 shares of the financial services provider’s stock valued at $528,000 after buying an additional 3,635 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of Comerica by 48.9% in the second quarter. Meeder Asset Management Inc. now owns 39,193 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 12,866 shares during the last quarter. Oakbrook Investments LLC raised its stake in shares of Comerica by 13.2% in the second quarter. Oakbrook Investments LLC now owns 23,150 shares of the financial services provider’s stock valued at $952,000 after buying an additional 2,700 shares during the last quarter. Finally, Clarkston Capital Partners LLC raised its stake in shares of Comerica by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 9,480 shares of the financial services provider’s stock valued at $390,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.

Comerica Company Profile

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.

5 Day Chart for NYSE:CMA

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