Comerica Inc. (CMA) Sets New 52-Week High at $47.59
Comerica Inc. (NYSE:CMA) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.59 and last traded at $47.50, with a volume of 858,655 shares trading hands. The stock had previously closed at $46.85.
CMA has been the subject of several research analyst reports. TheStreet raised Comerica from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th. Leerink Swann reissued a “buy” rating on shares of Comerica in a research note on Sunday, July 17th. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, July 25th. Credit Suisse Group AG reissued a “hold” rating and set a $37.00 price objective on shares of Comerica in a research note on Monday, May 2nd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $43.00 price objective on shares of Comerica in a research note on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.91.
The company has a 50 day moving average price of $44.99 and a 200 day moving average price of $41.52. The company has a market cap of $8.25 billion and a PE ratio of 20.60.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Equities analysts predict that Comerica Inc. will post $2.42 earnings per share for the current year.
The company 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 13th.
Other hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake in 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. Utah Retirement Systems raised its stake in 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. Finally, KBC Group NV raised its stake in 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.
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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