Comerica Inc. (CMA) Trading 1.9% Higher
Comerica Inc. (NYSE:CMA) shares traded up 1.9% during trading 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 research analysts recently commented on the stock. Raymond James Financial Inc. reiterated an “outperform” rating on shares of Comerica in a report on Friday, June 3rd. Goldman Sachs Group Inc. upgraded shares of Comerica from a “sell” rating to a “neutral” rating and set a $49.00 target price on the stock in a report on Thursday, May 26th. Deutsche Bank AG reiterated a “hold” rating on shares of Comerica in a report on Saturday, June 4th. Robert W. Baird reiterated a “buy” rating on shares of Comerica in a report on Wednesday, April 27th. Finally, Citigroup Inc. lifted their target price on shares of Comerica from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $43.65.
The firm has a 50 day moving average price of $42.85 and a 200-day moving average price of $39.69. The firm has a market capitalization of $7.92 billion and a price-to-earnings ratio of 18.41.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by $0.11. On average, analysts predict that Comerica Inc. will post $2.48 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.95%. 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 institutional investors have added to or reduced their stakes in the company. BOKF NA raised its position in Comerica by 0.8% in the fourth quarter. BOKF NA now owns 32,540 shares of the financial services provider’s stock worth $1,361,000 after buying an additional 253 shares in the last quarter. Quantitative Investment Management LLC increased its stake in shares of Comerica by 105.6% in the fourth quarter. Quantitative Investment Management LLC now owns 29,400 shares of the financial services provider’s stock worth $1,229,000 after buying an additional 15,100 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Comerica by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 14,610,631 shares of the financial services provider’s stock worth $611,164,000 after buying an additional 388,722 shares during the last quarter. Winton Capital Group Ltd increased its stake in shares of Comerica by 474.5% in the fourth quarter. Winton Capital Group Ltd now owns 317,258 shares of the financial services provider’s stock worth $13,271,000 after buying an additional 262,037 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.