Investors Sell Comerica Inc. (CMA) on Strength (CMA)
Investors sold shares of Comerica Inc. (NYSE:CMA) on strength during trading on Thursday. $14.10 million flowed into the stock on the tick-up and $32.38 million flowed out of the stock on the tick-down, for a money net flow of $18.28 million out of the stock. Of all stocks tracked, Comerica had the 0th highest net out-flow for the day. Comerica traded up $0.28 for the day and closed at $45.95
A number of brokerages recently issued reports on CMA. Goldman Sachs Group Inc. raised Comerica from a “sell” rating to a “neutral” rating and set a $49.00 price objective for the company in a research report on Thursday, May 26th. Deutsche Bank AG reissued a “hold” rating on shares of Comerica in a research report on Saturday, June 4th. Compass Point raised their price objective on Comerica from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Zacks Investment Research raised Comerica from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, FBR & Co raised their price objective on Comerica from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company. Comerica has an average rating of “Hold” and a consensus price target of $43.96.
The company has a market cap of $7.97 billion and a price-to-earnings ratio of 19.91. The stock’s 50-day moving average price is $44.27 and its 200-day moving average price is $41.08.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by $0.11. On average, equities research analysts forecast that Comerica Inc. will post $2.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.23 per share. This is a boost from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.92 dividend on an annualized basis and a yield of 2.01%.
A number of large investors have modified their holdings of the stock. Utah Retirement Systems raised its stake in shares of Comerica by 0.3% in the fourth quarter. Utah Retirement Systems now owns 31,896 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 100 shares during the period. KBC Group NV raised its stake 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 during the period. Bank of Montreal Can raised its stake 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 during the period. Finally, American International Group Inc. raised its stake in shares of Comerica by 0.8% in the fourth quarter. American International Group Inc. now owns 97,653 shares of the financial services provider’s stock worth $4,085,000 after buying an additional 769 shares during the period.
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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