Bank of America downgraded shares of Comerica (NYSE:CMA) from a neutral rating to an underperform rating in a report released on Thursday morning, Briefing.com Automated Import reports. The firm currently has $71.00 price target on the financial services provider’s stock, down from their prior price target of $85.00.
Several other equities research analysts have also weighed in on CMA. Zacks Investment Research lowered Granite Point Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, March 19th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Raymond James downgraded First Midwest Bancorp to a hold rating in a report on Monday, July 8th. Piper Jaffray Companies set a $29.00 target price on Bausch Health Companies and gave the stock a buy rating in a report on Tuesday, June 11th. Finally, Wedbush reduced their target price on Hercules Capital from $15.00 to $13.50 and set a hold rating on the stock in a report on Wednesday, March 13th. Six investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Comerica has an average rating of Hold and a consensus price target of $87.05.
CMA stock opened at $72.84 on Thursday. Comerica has a 1-year low of $63.69 and a 1-year high of $100.64. The company has a market cap of $11.23 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 1.28 and a beta of 1.44. The firm has a 50 day moving average of $71.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.15. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $852.88 million. During the same period in the prior year, the company posted $1.59 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts expect that Comerica will post 8.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Thursday, June 13th. Comerica’s dividend payout ratio is 37.02%.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of CMA. Trust Department MB Financial Bank N A lifted its holdings in Comerica by 64.3% during the 1st quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Liberty Wealth Management LLC acquired a new position in Comerica during the 4th quarter worth $26,000. Claybrook Capital LLC acquired a new position in Comerica during the 4th quarter worth $29,000. CWM LLC lifted its holdings in Comerica by 247.5% during the 1st quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after buying an additional 302 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in Comerica during the 1st quarter worth $35,000. 83.43% of the stock is currently owned by hedge funds and other institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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