Comerica’s (CMA) Hold Rating Reaffirmed at SunTrust Banks
SunTrust Banks reaffirmed their hold rating on shares of Comerica (NYSE:CMA) in a report released on Tuesday. The firm currently has a $86.00 target price on the financial services provider’s stock. SunTrust Banks also issued estimates for Comerica’s Q1 2018 earnings at $1.42 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $5.99 EPS and FY2019 earnings at $6.50 EPS.
Several other equities analysts also recently commented on CMA. Vining Sparks reiterated a buy rating and set a $97.50 price target on shares of Comerica in a report on Monday. Nomura upgraded Comerica from a neutral rating to a buy rating and increased their price target for the company from $86.00 to $106.00 in a report on Friday, January 5th. Instinet reiterated a neutral rating and set a $74.00 price target (up previously from $71.00) on shares of Comerica in a report on Saturday, September 30th. DA Davidson reiterated a hold rating and set a $81.00 price target on shares of Comerica in a report on Wednesday, October 18th. Finally, Citigroup reiterated a sell rating and set a $69.00 price target (up previously from $65.00) on shares of Comerica in a report on Monday, October 9th. Three equities research 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. The company currently has an average rating of Hold and a consensus price target of $87.07.
Comerica (CMA) traded up $0.52 during trading hours on Tuesday, reaching $93.04. The company had a trading volume of 1,605,788 shares, compared to its average volume of 1,482,033. Comerica has a 12-month low of $64.04 and a 12-month high of $93.54. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $16,230.00, a P/E ratio of 21.10, a P/E/G ratio of 1.81 and a beta of 1.50.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were given a $0.30 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. Comerica’s dividend payout ratio is 27.21%.
In related news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CMA. Janus Henderson Group PLC lifted its position in Comerica by 12,425.0% in the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after purchasing an additional 2,047,881 shares during the period. JPMorgan Chase & Co. lifted its position in Comerica by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the period. Vanguard Group Inc. lifted its position in Comerica by 6.7% in the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares during the period. State Street Corp lifted its position in Comerica by 11.3% in the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares during the period. Finally, Voya Investment Management LLC lifted its position in Comerica by 132.7% in the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.
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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