Comerica Incorporated (NYSE:CMA)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group LLC in a research note issued on Tuesday.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, February 20th. Robert W. Baird cut shares of Comerica from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 31st. Sandler O’Neill cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. FBR & Co reissued a “market perform” rating on shares of Comerica in a research note on Tuesday, January 17th. Finally, Citigroup Inc cut shares of Comerica from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.65.
Comerica (NYSE:CMA) opened at 70.65 on Tuesday. The company’s 50-day moving average is $70.94 and its 200-day moving average is $60.97. The company has a market cap of $12.42 billion, a P/E ratio of 26.36 and a beta of 1.43. Comerica has a 52 week low of $36.27 and a 52 week high of $75.00.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, January 17th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.87 by $0.05. The company earned $722 million during the quarter, compared to analysts’ expectations of $728.90 million. Comerica had a net margin of 16.00% and a return on equity of 6.92%. Comerica’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 earnings per share. On average, analysts anticipate that Comerica will post $4.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.30%. Comerica’s dividend payout ratio is currently 34.33%.
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In other news, Director De Ven Michael G. Van purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was bought at an average cost of $69.14 per share, for a total transaction of $345,700.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul R. Obermeyer sold 15,235 shares of the company’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $67.79, for a total transaction of $1,032,780.65. The disclosure for this sale can be found here. Insiders have sold a total of 142,428 shares of company stock valued at $9,614,020 over the last quarter. 1.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CMA. Elkhorn Investments LLC purchased a new stake in Comerica during the fourth quarter worth approximately $911,000. Norges Bank purchased a new stake in Comerica during the fourth quarter worth approximately $283,880,000. Assenagon Asset Management S.A. purchased a new stake in Comerica during the fourth quarter worth approximately $994,000. Appaloosa LP purchased a new stake in Comerica during the fourth quarter worth approximately $78,462,000. Finally, Putnam Investments LLC purchased a new stake in Comerica during the fourth quarter worth approximately $260,000. Institutional investors own 81.74% of the company’s stock.
Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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