Comerica Incorporated (NYSE:CMA) has been assigned an average recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $102.62.
Several research analysts recently issued reports on CMA shares. Morgan Stanley reduced their target price on Comerica from $111.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 18th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. B. Riley set a $107.00 price target on Comerica and gave the stock a “buy” rating in a research report on Monday, October 15th. Vining Sparks reiterated a “buy” rating and set a $107.00 price target on shares of Comerica in a research report on Tuesday, October 9th. Finally, BMO Capital Markets lowered their price target on Comerica from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 17th.
Several large investors have recently bought and sold shares of CMA. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in Comerica by 160.4% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after acquiring an additional 1,418,316 shares during the last quarter. Millennium Management LLC boosted its position in shares of Comerica by 31.7% during the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after buying an additional 1,204,882 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Comerica by 26,511.7% during the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 982,787 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Comerica by 47.8% during the third quarter. Bank of New York Mellon Corp now owns 2,727,000 shares of the financial services provider’s stock worth $245,975,000 after buying an additional 881,990 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Comerica by 61.5% during the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after buying an additional 491,843 shares during the period. 82.32% of the stock is owned by hedge funds and other institutional investors.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.05. Comerica had a return on equity of 14.41% and a net margin of 29.54%. The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $852.72 million. During the same period in the prior year, the company posted $1.26 EPS. On average, analysts expect that Comerica will post 7.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. Comerica’s dividend payout ratio is presently 50.74%.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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