Comerica (NYSE:CMA) had its price objective cut by Bank of America from $47.00 to $45.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have an underperform rating on the financial services provider’s stock.
Several other equities research analysts have also commented on CMA. SunTrust Banks upped their price target on shares of Comerica from $37.00 to $46.00 and gave the company a hold rating in a research report on Thursday, June 11th. Robert W. Baird raised shares of Comerica from a neutral rating to an outperform rating and set a $49.00 price target for the company in a research report on Friday. UBS Group reduced their price target on shares of Comerica from $28.00 to $26.00 and set a neutral rating for the company in a research report on Friday, May 15th. Wedbush raised shares of Comerica from a neutral rating to an outperform rating and set a $54.00 price target for the company in a research report on Tuesday, June 9th. Finally, Wells Fargo & Co upped their price target on shares of Comerica from $31.00 to $34.00 in a research report on Friday, June 5th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $46.13.
Shares of NYSE:CMA opened at $35.77 on Friday. Comerica has a fifty-two week low of $24.28 and a fifty-two week high of $74.04. The business has a 50-day simple moving average of $37.95 and a two-hundred day simple moving average of $46.02. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 19.53 and a beta of 1.85.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, April 21st. The financial services provider reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($1.41). Comerica had a return on equity of 10.77% and a net margin of 21.37%. The business had revenue of $750.00 million during the quarter, compared to analysts’ expectations of $752.26 million. During the same period last year, the firm posted $2.11 EPS. As a group, research analysts predict that Comerica will post 1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.68 dividend. The ex-dividend date was Friday, June 12th. This represents a $2.72 annualized dividend and a yield of 7.60%. Comerica’s payout ratio is 34.83%.
Hedge funds have recently bought and sold shares of the business. APG Asset Management N.V. boosted its stake in Comerica by 461.5% in the 1st quarter. APG Asset Management N.V. now owns 911,910 shares of the financial services provider’s stock worth $59,546,000 after purchasing an additional 749,490 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Comerica by 29.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,006 shares of the financial services provider’s stock worth $5,164,000 after purchasing an additional 40,508 shares during the period. Brooktree Capital Management bought a new position in Comerica in the 4th quarter worth approximately $225,000. Baird Financial Group Inc. boosted its stake in Comerica by 82.7% in the 4th quarter. Baird Financial Group Inc. now owns 14,686 shares of the financial services provider’s stock worth $1,053,000 after purchasing an additional 6,649 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Comerica by 8.4% in the 4th quarter. Nuveen Asset Management LLC now owns 961,813 shares of the financial services provider’s stock worth $69,010,000 after purchasing an additional 74,141 shares during the period. Institutional investors and hedge funds own 80.73% of the company’s stock.
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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