Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus recommendation of “Hold” by the twenty-six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $94.76.
A number of brokerages have commented on CMA. Stephens lowered shares of Comerica from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Keefe, Bruyette & Woods downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 12th. Morgan Stanley cut their target price on shares of Comerica from $98.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 8th. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, ValuEngine downgraded shares of Comerica from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 21st.
In other news, insider Paul R. Obermeyer sold 8,200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $86.75, for a total transaction of $711,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter William Guilfoile sold 2,922 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $82.26, for a total transaction of $240,363.72. The disclosure for this sale can be found here. Insiders have sold a total of 18,565 shares of company stock worth $1,603,348 over the last 90 days. Corporate insiders own 0.98% of the company’s stock.
NYSE:CMA traded down $0.04 during mid-day trading on Wednesday, reaching $76.89. 120,440 shares of the company were exchanged, compared to its average volume of 2,258,485. Comerica has a 12 month low of $63.69 and a 12 month high of $101.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.86. The firm has a market cap of $12.01 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.61 and a beta of 1.43.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Comerica had a net margin of 34.24% and a return on equity of 15.84%. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $863.43 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Comerica will post 8.18 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.67 per share. This is an increase from Comerica’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is 37.02%.
Comerica announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 22nd that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Comerica Company Profile
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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