Comerica Incorporated (NYSE:CMA) had its price target hoisted by Deutsche Bank AG from $80.00 to $82.00 in a report published on Wednesday, November 8th. The firm currently has a hold rating on the financial services provider’s stock.
A number of other analysts also recently weighed in on CMA. BidaskClub raised shares of Comerica from a sell rating to a hold rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Comerica from a buy rating to a hold rating in a research report on Friday, August 4th. Wells Fargo & Company started coverage on shares of Comerica in a research report on Wednesday, August 9th. They issued a market perform rating and a $73.00 target price on the stock. Nomura increased their price objective on shares of Comerica from $71.00 to $74.00 and gave the company a neutral rating in a research report on Thursday, September 28th. Finally, Instinet reissued a neutral rating and set a $74.00 price objective (up from $71.00) on shares of Comerica in a research report on Saturday, September 30th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. Comerica has an average rating of Hold and an average price target of $78.57.
Comerica (NYSE:CMA) traded down $0.03 during trading hours on Wednesday, reaching $78.64. 1,039,552 shares of the company were exchanged, compared to its average volume of 1,687,156. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 52 week low of $61.05 and a 52 week high of $80.25. The company has a market cap of $13,681.89, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.80 and a beta of 1.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is presently 27.15%.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CMA. Janus Henderson Group PLC grew its holdings in Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. grew its holdings in Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares in the last quarter. State Street Corp grew its holdings in Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after buying an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after buying an additional 965,041 shares in the last quarter. 82.17% of the stock is owned by institutional investors and hedge funds.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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