Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus recommendation of “Hold” by the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $102.17.
Several analysts have recently weighed in on CMA shares. Bank of America set a $109.00 target price on Comerica and gave the company a “buy” rating in a report on Wednesday, July 25th. B. Riley boosted their target price on Comerica from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Wedbush boosted their target price on Comerica from $111.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Stephens reissued a “buy” rating and issued a $108.00 target price on shares of Comerica in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, July 18th.
In other Comerica news, EVP Christine M. Moore sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $98.41, for a total transaction of $472,368.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.
Comerica stock opened at $84.73 on Wednesday. Comerica has a fifty-two week low of $74.16 and a fifty-two week high of $102.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $15.46 billion, a PE ratio of 17.91, a PEG ratio of 0.56 and a beta of 1.42.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.26. Comerica had a return on equity of 13.14% and a net margin of 27.28%. The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $833.59 million. During the same period in the previous year, the business earned $1.13 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Comerica will post 7.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, September 13th. This is an increase from Comerica’s previous quarterly dividend of $0.34. This represents a $2.40 annualized dividend and a yield of 2.83%. Comerica’s dividend payout ratio is currently 50.74%.
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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