B. Riley reiterated their buy rating on shares of Comerica (NYSE:CMA) in a research report released on Monday morning. The firm currently has a $84.00 price objective on the financial services provider’s stock.
Several other equities research analysts also recently commented on the company. ValuEngine downgraded Comerica from a buy rating to a hold rating in a report on Friday, December 1st. SunTrust Banks reaffirmed a hold rating and set a $83.00 target price on shares of Comerica in a report on Wednesday, November 29th. Macquarie raised Comerica from a neutral rating to an outperform rating and set a $90.00 target price for the company in a report on Friday, November 17th. Deutsche Bank upped their target price on Comerica from $80.00 to $82.00 and gave the company a hold rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded Comerica from a buy rating to a hold rating in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $79.81.
Shares of Comerica (NYSE:CMA) opened at $83.23 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $14,801.91, a price-to-earnings ratio of 19.21, a PEG ratio of 1.95 and a beta of 1.51. Comerica has a twelve month low of $64.04 and a twelve month high of $86.78.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.44%. The ex-dividend date is Thursday, December 14th. Comerica’s payout ratio is currently 27.15%.
In other news, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Smithfield Trust Co. boosted its stake in shares of Comerica by 2,446.0% during the 2nd quarter. Smithfield Trust Co. now owns 2,546 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 2,446 shares in the last quarter. IBM Retirement Fund bought a new stake in shares of Comerica during the 3rd quarter worth about $200,000. Zeke Capital Advisors LLC bought a new stake in shares of Comerica during the 3rd quarter worth about $200,000. BB&T Corp bought a new stake in shares of Comerica during the 3rd quarter worth about $206,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Comerica during the 2nd quarter worth about $208,000. Institutional investors own 82.04% of the company’s stock.
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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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