ValuEngine upgraded shares of Comerica (NYSE:CMA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Comerica from a hold rating to a strong-buy rating and set a $104.00 price target for the company in a research note on Wednesday, January 10th. Robert W. Baird reaffirmed a hold rating and issued a $95.00 price target on shares of Comerica in a research note on Wednesday, January 17th. SunTrust Banks upped their price target on Comerica to $98.00 and gave the company a hold rating in a research note on Wednesday, January 17th. Piper Jaffray Companies raised Comerica to a buy rating and set a $98.00 price target for the company in a research note on Friday, December 8th. Finally, B. Riley reaffirmed a buy rating and issued a $84.00 price target on shares of Comerica in a research note on Monday, December 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Comerica has a consensus rating of Hold and a consensus price target of $92.80.
Comerica (NYSE CMA) opened at $102.21 on Wednesday. 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 has a 52-week low of $64.04 and a 52-week high of $102.42. The stock has a market cap of $17,663.22, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.56 and a beta of 1.39.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. Comerica’s payout ratio is 29.06%.
In related news, EVP Megan D. Burkhart sold 4,670 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total transaction of $463,264.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Muneera S. Carr sold 2,321 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $99.34, for a total value of $230,568.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,006 shares of company stock valued at $26,250,992. 1.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC grew its stake in shares of Comerica by 6.8% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,605 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 613 shares in the last quarter. US Bancorp DE grew its stake in shares of Comerica by 3.0% during the 4th quarter. US Bancorp DE now owns 22,150 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 641 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Comerica by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 6,022 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 796 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in shares of Comerica by 16.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,928 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 831 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its stake in shares of Comerica by 19.4% during the 4th quarter. ETRADE Capital Management LLC now owns 5,130 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 833 shares in the last quarter. 82.13% of the stock is owned by institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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