ValuEngine upgraded shares of Comerica (NYSE:CMA) from a hold rating to a buy rating in a report issued on Wednesday morning.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Comerica from a hold rating to a strong-buy rating and set a $104.00 price target for the company in a research note on Wednesday, January 10th. Robert W. Baird reiterated a hold rating and issued a $95.00 price target on shares of Comerica in a research note on Wednesday, January 17th. SunTrust Banks increased their price target on shares of Comerica to $98.00 and gave the company a hold rating in a research note on Wednesday, January 17th. Piper Jaffray Companies upgraded shares of Comerica to a buy rating and set a $98.00 price target for the company in a research note on Friday, December 8th. Finally, B. Riley reiterated a buy rating and issued a $84.00 price target on shares of Comerica in a research note on Monday, December 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $92.80.
Shares of Comerica (NYSE CMA) opened at $102.21 on Wednesday. The company has a market cap of $17,340.09, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica has a 12 month low of $64.04 and a 12 month high of $102.42.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, March 14th. Comerica’s dividend payout ratio is 29.06%.
In related news, EVP Michael T. Ritchie sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $99.45, for a total transaction of $397,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Megan D. Burkhart sold 4,670 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total transaction of $463,264.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,006 shares of company stock worth $26,250,992. 1.10% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. IBM Retirement Fund bought a new position in Comerica during the third quarter worth about $200,000. Zeke Capital Advisors LLC bought a new position in Comerica during the third quarter worth about $200,000. Driehaus Capital Management LLC bought a new position in Comerica during the fourth quarter worth about $209,000. Westwood Holdings Group Inc. bought a new position in Comerica in the 4th quarter valued at about $210,000. Finally, JLB & Associates Inc. bought a new position in Comerica in the 4th quarter valued at about $217,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
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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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