Comerica (CMA) Hits New 52-Week High at $92.31
Comerica Incorporated (NYSE:CMA)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $92.31 and last traded at $92.37, with a volume of 625900 shares traded. The stock had previously closed at $90.37.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 target price on the stock in a research note on Wednesday. SunTrust Banks reaffirmed a “hold” rating and set a $86.00 target price on shares of Comerica in a research note on Tuesday. Vining Sparks reaffirmed a “buy” rating and set a $97.50 target price on shares of Comerica in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $101.00 target price on shares of Comerica in a research note on Friday, December 22nd. Finally, Instinet raised shares of Comerica from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.07.
The stock has a market capitalization of $16,090.00, a P/E ratio of 20.98, a PEG ratio of 1.81 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $812.83 million. Comerica had a net margin of 24.87% and a return on equity of 10.35%. During the same quarter in the previous year, the business posted $0.84 earnings per share. research analysts expect that Comerica Incorporated will post 4.85 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is currently 27.21%.
In related news, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in CMA. Marshall Wace North America L.P. acquired a new position in Comerica during the 2nd quarter worth approximately $208,000. Pacer Advisors Inc. grew its holdings in Comerica by 20.2% during the 2nd quarter. Pacer Advisors Inc. now owns 3,944 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 662 shares in the last quarter. Tredje AP fonden grew its holdings in Comerica by 4.7% during the 2nd quarter. Tredje AP fonden now owns 7,430 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 331 shares in the last quarter. AXA grew its holdings in Comerica by 1.0% during the 2nd quarter. AXA now owns 20,600 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 200 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK grew its holdings in Comerica by 11.7% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 45,060 shares of the financial services provider’s stock worth $3,300,000 after acquiring an additional 4,703 shares in the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
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Comerica Company Profile
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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