Comerica (NYSE:CMA – Free Report) had its price objective hoisted by Evercore ISI from $58.00 to $64.00 in a report issued on Wednesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.
Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada decreased their price target on Comerica from $58.00 to $56.00 and set an outperform rating on the stock in a report on Monday, July 22nd. Wedbush raised shares of Comerica from a neutral rating to an outperform rating and raised their target price for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. Morgan Stanley boosted their price target on shares of Comerica from $61.00 to $63.00 and gave the stock an equal weight rating in a research note on Monday, September 30th. The Goldman Sachs Group reduced their price objective on shares of Comerica from $69.00 to $62.00 and set a buy rating on the stock in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Comerica from $62.00 to $57.00 and set a neutral rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $58.81.
View Our Latest Analysis on CMA
Comerica Trading Up 0.3 %
Comerica (NYSE:CMA – Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the business posted $2.01 earnings per share. As a group, equities analysts anticipate that Comerica will post 5.06 earnings per share for the current fiscal year.
Comerica Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date was Friday, September 13th. Comerica’s payout ratio is presently 56.46%.
Insider Buying and Selling
In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Comerica
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Vanguard Group Inc. increased its position in shares of Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after purchasing an additional 1,370,886 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 1.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after buying an additional 130,458 shares during the last quarter. 80.74% of the stock is owned by institutional investors.
About Comerica
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company 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, payment solutions, card services, 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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