B. Riley set a $75.00 target price on Comerica (NYSE:CMA) in a research note published on Thursday morning, Stock Target Advisor reports. The firm currently has a hold rating on the financial services provider’s stock. B. Riley also issued estimates for Comerica’s Q4 2019 earnings at $1.81 EPS, Q1 2020 earnings at $1.74 EPS, Q2 2020 earnings at $1.91 EPS, Q3 2020 earnings at $1.95 EPS and Q4 2020 earnings at $1.99 EPS.
Several other research analysts have also recently commented on the stock. Goldman Sachs Group cut shares of LATAM Airlines Group from a neutral rating to a sell rating and raised their target price for the stock from $9.20 to $9.30 in a report on Tuesday, July 2nd. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Jefferies Financial Group set a $158.00 target price on shares of HCA Healthcare and gave the stock a buy rating in a report on Wednesday, April 17th. Wedbush lowered their target price on shares of Hercules Capital from $15.00 to $13.50 and set a hold rating on the stock in a report on Wednesday, March 13th. Finally, Piper Jaffray Companies set a $29.00 target price on shares of Bausch Health Companies and gave the stock a buy rating in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $87.05.
Shares of CMA stock opened at $72.84 on Thursday. The stock’s 50 day moving average is $71.03. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $11.23 billion, a P/E ratio of 9.35, a PEG ratio of 1.28 and a beta of 1.44. Comerica has a 12-month low of $63.69 and a 12-month high of $100.64.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.15. The firm had revenue of $852.00 million during the quarter, compared to the consensus estimate of $852.88 million. Comerica had a net margin of 34.75% and a return on equity of 16.95%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $1.59 earnings per share. Research analysts forecast that Comerica will post 8.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a $0.67 dividend. The ex-dividend date was Thursday, June 13th. This represents a $2.68 dividend on an annualized basis and a yield of 3.68%. Comerica’s dividend payout ratio (DPR) is 37.02%.
In related news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $73.49, for a total value of $235,168.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.
A number of large investors have recently made changes to their positions in CMA. Clark Capital Management Group Inc. boosted its position in Comerica by 5.8% in the second quarter. Clark Capital Management Group Inc. now owns 262,469 shares of the financial services provider’s stock valued at $19,066,000 after buying an additional 14,419 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Comerica by 2.1% in the second quarter. Nisa Investment Advisors LLC now owns 58,370 shares of the financial services provider’s stock valued at $4,240,000 after buying an additional 1,200 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in Comerica by 10.0% in the second quarter. Xact Kapitalforvaltning AB now owns 27,610 shares of the financial services provider’s stock valued at $2,006,000 after buying an additional 2,508 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in Comerica by 31.4% in the second quarter. First Citizens Bank & Trust Co. now owns 37,548 shares of the financial services provider’s stock valued at $2,727,000 after buying an additional 8,964 shares in the last quarter. Finally, Hexavest Inc. acquired a new stake in Comerica in the second quarter valued at approximately $16,883,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.
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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