Royal Bank of Canada restated their buy rating on shares of Comerica (NYSE:CMA) in a research report report published on Wednesday morning, Price Targets.com reports. Royal Bank of Canada currently has a $70.00 price objective on the financial services provider’s stock.
CMA has been the topic of a number of other reports. Morgan Stanley lifted their target price on shares of Comerica from $54.00 to $59.00 and gave the stock an equal weight rating in a research note on Thursday, January 7th. Raymond James lifted their price target on shares of Comerica from $71.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday. Compass Point lowered Comerica from a neutral rating to a sell rating and increased their price objective for the stock from $44.00 to $46.00 in a research report on Tuesday, November 10th. B. Riley lifted their target price on Comerica from $65.00 to $72.00 and gave the company a buy rating in a research report on Wednesday. Finally, Stephens raised Comerica from an equal weight rating to an overweight rating and set a $62.00 price target on the stock in a research note on Thursday, December 17th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Comerica has an average rating of Hold and a consensus target price of $48.53.
Shares of Comerica stock opened at $62.16 on Wednesday. The business’s 50 day moving average price is $57.23 and its 200 day moving average price is $45.81. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 17.12 and a beta of 1.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a one year low of $24.28 and a one year high of $66.36.
Comerica (NYSE:CMA) last issued its earnings results on Monday, January 18th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same period in the prior year, the firm posted $1.85 earnings per share. On average, analysts predict that Comerica will post 2.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 1st. Stockholders of record on Tuesday, December 15th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, December 14th. Comerica’s payout ratio is currently 34.83%.
In related news, EVP Jay K. Oberg sold 1,500 shares of the business’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $53.69, for a total transaction of $80,535.00. Company insiders own 0.55% of the company’s stock.
Large investors have recently modified their holdings of the stock. Liberty Wealth Management LLC purchased a new position in Comerica in the third quarter worth approximately $31,000. Private Advisor Group LLC acquired a new stake in shares of Comerica in the 2nd quarter valued at $36,000. Whittier Trust Co. lifted its position in shares of Comerica by 1,276.3% during the 3rd quarter. Whittier Trust Co. now owns 1,046 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 970 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Comerica by 23.5% during the third quarter. Meeder Asset Management Inc. now owns 1,820 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 346 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Comerica by 48.2% during the third quarter. Federated Hermes Inc. now owns 3,488 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,135 shares in the last quarter. 78.17% 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 for small and middle market businesses, multinational corporations, and governmental entities.
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