Comerica (CMA) Earns Buy Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Comerica (NYSE:CMA) in a research report released on Wednesday morning. They currently have a $103.00 price objective on the financial services provider’s stock.

Several other research analysts also recently issued reports on CMA. Zacks Investment Research downgraded shares of Comerica from a hold rating to a sell rating in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a buy rating and set a $79.00 price target on shares of Comerica in a report on Friday, September 22nd. Nomura upped their price target on shares of Comerica from $71.00 to $74.00 and gave the stock a neutral rating in a report on Thursday, September 28th. Instinet reiterated a neutral rating and set a $74.00 price target (up from $71.00) on shares of Comerica in a report on Saturday, September 30th. Finally, SunTrust Banks reiterated a hold rating and set a $80.00 price target on shares of Comerica in a report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $92.37.

Shares of Comerica (CMA) traded up $1.18 on Wednesday, reaching $94.99. 2,499,549 shares of the company’s stock 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 firm has a market capitalization of $16,433.27, a P/E ratio of 23.00, a P/E/G ratio of 1.46 and a beta of 1.51. 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, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. During the same period in the previous year, the business earned $0.92 earnings per share. equities analysts expect that Comerica will post 6.53 earnings per share for the current year.

The business 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. The ex-dividend date was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. Comerica’s payout ratio is 29.06%.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after acquiring an additional 1,142,275 shares during the last quarter. BlackRock Inc. boosted its position in Comerica by 0.5% during the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares during the last quarter. State Street Corp boosted its position in Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after acquiring an additional 1,010,965 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after acquiring an additional 1,681,640 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Comerica by 12,425.0% during the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after acquiring an additional 2,047,881 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Comerica (NYSE:CMA)

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