CMA has been the subject of several other research reports. Wedbush boosted their target price on Comerica from $94.00 to $102.00 and gave the company an outperform rating in a research report on Thursday, January 20th. Compass Point upgraded Comerica from a neutral rating to a buy rating and boosted their target price for the company from $105.00 to $115.00 in a research report on Wednesday, February 16th. Royal Bank of Canada dropped their target price on Comerica from $114.00 to $110.00 and set an outperform rating for the company in a research report on Thursday, April 21st. JPMorgan Chase & Co. upgraded Comerica from a neutral rating to an overweight rating and boosted their target price for the company from $108.00 to $115.00 in a research report on Friday, April 1st. Finally, Raymond James lowered Comerica from an outperform rating to a market perform rating in a report on Thursday, April 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Comerica presently has an average rating of Hold and a consensus price target of $101.95.
Shares of NYSE CMA opened at $76.26 on Tuesday. The business’s 50 day moving average is $87.61 and its two-hundred day moving average is $89.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. Comerica has a 1-year low of $63.07 and a 1-year high of $102.09. The stock has a market capitalization of $9.97 billion, a P/E ratio of 10.52, a PEG ratio of 1.74 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Tuesday, June 14th. Comerica’s payout ratio is presently 37.52%.
In other news, EVP Wendy Bridges sold 1,100 shares of the company’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $93.78, for a total transaction of $103,158.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concord Wealth Partners grew its position in Comerica by 191.8% during the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 188 shares during the period. Quent Capital LLC grew its position in Comerica by 292.3% during the 1st quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 228 shares during the period. Tcwp LLC acquired a new stake in Comerica during the 1st quarter worth about $30,000. Kings Point Capital Management acquired a new stake in Comerica during the 3rd quarter worth about $32,000. Finally, Hexagon Capital Partners LLC acquired a new stake in Comerica during the 4th quarter worth about $35,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Comerica Company Profile (Get Rating)
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial 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 for small and middle market businesses, multinational corporations, and governmental entities.
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