Shares of Comerica Incorporated (NYSE:CMA – Get Rating) have been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.05.
CMA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Comerica from $80.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, December 13th. Keefe, Bruyette & Woods cut shares of Comerica from an “outperform” rating to a “market perform” rating and cut their price target for the company from $105.00 to $80.00 in a research note on Monday, December 12th. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Monday, November 21st. StockNews.com initiated coverage on shares of Comerica in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Stephens cut their price target on shares of Comerica from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th.
Comerica Stock Up 2.3 %
Shares of CMA stock opened at $67.60 on Friday. The firm has a fifty day moving average of $68.32 and a 200-day moving average of $73.86. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. Comerica has a 12-month low of $62.83 and a 12-month high of $102.09. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 1.08 and a beta of 1.18.
Comerica (NYSE:CMA – Get Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $966.20 million. During the same quarter in the prior year, the company posted $1.90 earnings per share. As a group, equities research analysts predict that Comerica will post 8.5 earnings per share for the current fiscal year.
Comerica Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Wednesday, December 14th. Comerica’s dividend payout ratio is currently 36.03%.
Hedge Funds Weigh In On Comerica
Several hedge funds have recently bought and sold shares of CMA. Ronald Blue Trust Inc. bought a new position in Comerica in the 2nd quarter valued at about $27,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Comerica during the 1st quarter valued at approximately $31,000. Oakworth Capital Inc. bought a new stake in shares of Comerica during the 2nd quarter valued at approximately $34,000. Evoke Wealth LLC grew its holdings in shares of Comerica by 38.0% during the 2nd quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 136 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new stake in shares of Comerica during the 3rd quarter valued at approximately $38,000. 81.91% of the stock is owned by institutional investors.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial 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 for small and middle market businesses, multinational corporations, and governmental entities.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Comerica, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Comerica wasn’t on the list.
While Comerica currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here