Comerica (CMA) Stock Rating Reaffirmed by DA Davidson
DA Davidson restated their hold rating on shares of Comerica (NYSE:CMA) in a research note published on Wednesday. They currently have a $100.00 price objective on the financial services provider’s stock. DA Davidson also issued estimates for Comerica’s Q1 2018 earnings at $1.52 EPS, Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.59 EPS, Q4 2018 earnings at $1.69 EPS, FY2018 earnings at $6.34 EPS and FY2019 earnings at $7.16 EPS.
Several other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a buy rating and issued a $101.00 target price on shares of Comerica in a research note on Friday, December 22nd. Zacks Investment Research downgraded shares of Comerica from a buy rating to a hold rating in a research note on Wednesday, November 1st. Nomura upped their target price on shares of Comerica from $74.00 to $86.00 and gave the stock a neutral rating in a research note on Monday, October 23rd. Citigroup reiterated a sell rating and issued a $69.00 target price (up previously from $65.00) on shares of Comerica in a research note on Monday, October 9th. Finally, Vining Sparks reiterated a buy rating and issued a $97.50 target price on shares of Comerica in a research note on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $92.37.
Comerica (CMA) traded up $1.18 during trading hours on Wednesday, reaching $94.99. 2,499,549 shares of the company traded hands, compared to its average volume of 1,152,911. Comerica has a 1-year low of $64.04 and a 1-year high of $95.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $16,433.27, a price-to-earnings ratio of 23.00, a P/E/G ratio of 1.46 and a beta of 1.51.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. Comerica’s payout ratio is 29.06%.
In other news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the business’s 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. 1.10% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. V Wealth Management LLC purchased a new stake in Comerica during the fourth quarter valued at approximately $2,095,000. State of Alaska Department of Revenue increased its holdings in Comerica by 30.3% during the fourth quarter. State of Alaska Department of Revenue now owns 38,429 shares of the financial services provider’s stock valued at $3,335,000 after buying an additional 8,930 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in Comerica during the fourth quarter valued at approximately $4,112,000. Schwab Charles Investment Management Inc. increased its holdings in Comerica by 3.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 588,130 shares of the financial services provider’s stock valued at $51,056,000 after buying an additional 20,386 shares during the last quarter. Finally, Creative Planning increased its holdings in Comerica by 29.9% during the fourth quarter. Creative Planning now owns 5,272 shares of the financial services provider’s stock valued at $458,000 after buying an additional 1,212 shares during the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.
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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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