Robert W. Baird upgraded shares of Comerica (NYSE:CMA) from a neutral rating to an outperform rating in a report issued on Friday, BenzingaRatingsTable reports. They currently have $49.00 target price on the financial services provider’s stock.
CMA has been the subject of several other reports. Morgan Stanley boosted their price target on Comerica from $40.00 to $43.00 and gave the stock an equal weight rating in a research report on Monday, June 8th. B. Riley raised Comerica from a neutral rating to a buy rating and boosted their price objective for the stock from $35.00 to $50.00 in a research note on Thursday, June 4th. Nomura reissued a hold rating and set a $31.00 price objective on shares of Comerica in a research note on Wednesday, April 22nd. Wells Fargo & Co boosted their price objective on Comerica from $31.00 to $34.00 in a research note on Friday, June 5th. Finally, ValuEngine raised Comerica from a sell rating to a hold rating in a research note on Thursday, July 2nd. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $46.13.
Shares of CMA opened at $35.77 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.02 and a current ratio of 1.02. Comerica has a one year low of $24.28 and a one year high of $74.04. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 19.53 and a beta of 1.85. The stock has a 50 day moving average price of $37.95 and a 200 day moving average price of $46.02.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $750.00 million for the quarter, compared to analysts’ expectations of $752.26 million. During the same quarter in the previous year, the firm posted $2.11 earnings per share. On average, analysts predict that Comerica will post 1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $2.72 annualized dividend and a dividend yield of 7.60%. Comerica’s dividend payout ratio is presently 34.83%.
Hedge funds have recently bought and sold shares of the stock. APG Asset Management N.V. raised its holdings in shares of 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 valued at $59,546,000 after buying an additional 749,490 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of 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 valued at $5,164,000 after buying an additional 40,508 shares during the period. Brooktree Capital Management purchased a new stake in shares of Comerica in the 4th quarter valued at $225,000. Baird Financial Group Inc. increased its holdings in Comerica by 82.7% during 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 increased its holdings in Comerica by 8.4% during 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. Hedge funds and other institutional investors 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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