Comerica Incorporated (CMA) Downgraded to Sell at Citigroup Inc.
Comerica Incorporated (NYSE:CMA) was downgraded by research analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued on Tuesday.
Other research analysts have also issued research reports about the stock. Sandler O’Neill lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Stephens raised shares of Comerica from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 19th. FBR & Co lifted their price objective on shares of Comerica from $50.00 to $52.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, October 19th. Sanford C. Bernstein reissued a “market perform” rating on shares of Comerica in a research note on Wednesday, December 28th. Finally, Zacks Investment Research raised shares of Comerica from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company’s stock. Comerica presently has an average rating of “Hold” and an average target price of $49.27.
Shares of Comerica (NYSE:CMA) traded up 1.01% during midday trading on Tuesday, reaching $69.92. 1,885,004 shares of the company were exchanged. The stock has a market capitalization of $12.04 billion, a price-to-earnings ratio of 29.15 and a beta of 1.44. Comerica has a 52-week low of $30.48 and a 52-week high of $71.20. The company’s 50-day moving average price is $67.84 and its 200 day moving average price is $52.80.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.10. Comerica had a net margin of 14.97% and a return on equity of 6.36%. During the same quarter last year, the business posted $0.74 EPS. On average, equities analysts predict that Comerica will post $2.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were given a $0.23 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.32%. Comerica’s payout ratio is presently 37.25%.
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In other news, EVP Muneera S. Carr sold 1,986 shares of the business’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $51.07, for a total value of $101,425.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Ritchie sold 2,362 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $50.90, for a total transaction of $120,225.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Comerica by 2.2% in the second quarter. Vanguard Group Inc. now owns 15,324,597 shares of the financial services provider’s stock worth $630,300,000 after buying an additional 332,956 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Comerica by 2.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,529,890 shares of the financial services provider’s stock worth $214,354,000 after buying an additional 92,039 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Comerica by 4.8% in the second quarter. American Century Companies Inc. now owns 3,883,718 shares of the financial services provider’s stock worth $159,737,000 after buying an additional 176,177 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Comerica by 4.1% in the third quarter. BlackRock Fund Advisors now owns 3,024,167 shares of the financial services provider’s stock worth $143,104,000 after buying an additional 119,729 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in shares of Comerica by 2.9% in the second quarter. King Luther Capital Management Corp now owns 2,958,629 shares of the financial services provider’s stock worth $121,688,000 after buying an additional 83,150 shares during the last quarter. 80.77% of the stock is owned by institutional investors.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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