Comerica (CMA) Upgraded to “Neutral” by Citigroup

Citigroup upgraded shares of Comerica (NYSE:CMA) from a sell rating to a neutral rating in a research report sent to investors on Friday, November 2nd, MarketBeat Ratings reports.

A number of other equities analysts also recently weighed in on CMA. Morgan Stanley boosted their price target on Comerica from $108.00 to $111.00 and gave the stock an equal weight rating in a research report on Thursday, July 26th. Royal Bank of Canada boosted their price target on Comerica to $100.00 and gave the stock an outperform rating in a research report on Wednesday, October 17th. 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. SunTrust Banks lowered their price target on Comerica to $91.00 and set a hold rating on the stock in a research report on Wednesday, October 17th. Finally, Zacks Investment Research downgraded Comerica from a buy rating to a hold rating in a research report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $101.50.

CMA traded up $0.18 on Friday, hitting $84.69. 3,201,805 shares of the company were exchanged, compared to its average volume of 2,339,242. Comerica has a 12 month low of $74.16 and a 12 month high of $102.66. The firm has a market capitalization of $13.51 billion, a PE ratio of 17.90, a PEG ratio of 0.59 and a beta of 1.39. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.03.

Comerica (NYSE:CMA) last released its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $833.00 million for the quarter, compared to analyst estimates of $852.72 million. During the same quarter in the prior year, the company posted $1.26 earnings per share. On average, research analysts forecast that Comerica will post 7.18 earnings per share 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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, December 13th. Comerica’s dividend payout ratio (DPR) is currently 50.74%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Comerica by 16.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,253 shares of the financial services provider’s stock worth $3,721,000 after purchasing an additional 5,968 shares during the last quarter. Bank of Hawaii lifted its stake in Comerica by 12.5% during the third quarter. Bank of Hawaii now owns 9,840 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 1,090 shares during the last quarter. FIL Ltd lifted its stake in Comerica by 2.8% during the third quarter. FIL Ltd now owns 91,063 shares of the financial services provider’s stock worth $8,214,000 after purchasing an additional 2,522 shares during the last quarter. American International Group Inc. lifted its stake in Comerica by 4.7% during the third quarter. American International Group Inc. now owns 78,602 shares of the financial services provider’s stock worth $7,090,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Comerica during the third quarter worth $506,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.

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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Analyst Recommendations for Comerica (NYSE:CMA)

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