Comerica (NYSE:CMA) had its price target lowered by DA Davidson to $75.00 in a research report released on Thursday, The Fly reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.
A number of other analysts have also recently weighed in on the company. BMO Capital Markets decreased their price objective on Comerica to $78.00 and set a market perform rating for the company in a research report on Thursday. B. Riley set a $75.00 price objective on Comerica and gave the stock a hold rating in a research report on Thursday, July 11th. Jefferies Financial Group set a $158.00 price objective on HCA Healthcare and gave the stock a buy rating in a research report on Wednesday, April 17th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Realogy from $14.00 to $12.00 and set an underweight rating for the company in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $86.33.
Comerica stock opened at $70.67 on Thursday. Comerica has a twelve month low of $63.69 and a twelve month high of $100.64. The stock’s 50 day moving average is $70.93. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.90. The firm has a market cap of $10.89 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.30 and a beta of 1.44.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). Comerica had a return on equity of 16.92% and a net margin of 33.29%. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $859.09 million. During the same period in the previous year, the business posted $1.87 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Comerica will post 8.02 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were issued a $0.67 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.68 annualized dividend and a dividend yield of 3.79%. Comerica’s dividend payout ratio is currently 37.02%.
In other news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.49, for a total value of $235,168.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CMA. Commonwealth Equity Services LLC lifted its holdings in shares of Comerica by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,159 shares of the financial services provider’s stock valued at $903,000 after buying an additional 316 shares during the period. Dimensional Fund Advisors LP raised its holdings in Comerica by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,942 shares of the financial services provider’s stock worth $68,959,000 after purchasing an additional 100,589 shares during the last quarter. Geode Capital Management LLC raised its holdings in Comerica by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock worth $152,960,000 after purchasing an additional 76,845 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Comerica by 24.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,695 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 334 shares during the last quarter. Finally, Suntrust Banks Inc. raised its holdings in Comerica by 19.4% during the fourth quarter. Suntrust Banks Inc. now owns 13,863 shares of the financial services provider’s stock worth $953,000 after purchasing an additional 2,256 shares during the last quarter. 83.74% of the stock is owned by institutional investors and hedge funds.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.
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