Comerica (NYSE:CMA) Hits New 52-Week High at $101.84

Comerica Incorporated (NYSE:CMA) hit a new 52-week high during trading on Tuesday . The company traded as high as $101.84 and last traded at $101.15, with a volume of 9126 shares trading hands. The stock had previously closed at $101.24.

A number of research analysts recently commented on CMA shares. Wells Fargo & Company upped their target price on Comerica from $67.00 to $73.00 and gave the company an “underweight” rating in a research note on Monday, October 4th. Robert W. Baird lowered Comerica from a “neutral” rating to an “underperform” rating and set a $78.00 price objective for the company. in a research note on Friday, January 7th. Compass Point upgraded Comerica from a “sell” rating to a “neutral” rating and set a $87.00 price objective for the company in a research note on Tuesday, December 21st. The Goldman Sachs Group reiterated a “sell” rating and set a $86.00 price objective (up from $78.00) on shares of Comerica in a research note on Thursday, October 21st. Finally, Raymond James increased their price objective on Comerica from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, October 21st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $91.90.

The firm has a fifty day moving average of $88.86 and a 200-day moving average of $80.63. The firm has a market cap of $12.68 billion, a P/E ratio of 11.88, a PEG ratio of 0.56 and a beta of 1.48. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.38.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Comerica had a return on equity of 15.22% and a net margin of 38.31%. During the same period in the previous year, the business earned $1.49 EPS. Sell-side analysts anticipate that Comerica Incorporated will post 8.28 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Saturday, January 1st. Shareholders of record on Wednesday, December 15th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.81%. Comerica’s payout ratio is 33.42%.

In other Comerica news, EVP Melinda A. Chausse sold 3,429 shares of the stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $90.98, for a total value of $311,970.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mauricio A. Ortiz sold 567 shares of the stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $88.48, for a total value of $50,168.16. The disclosure for this sale can be found here. Insiders sold 18,066 shares of company stock worth $1,588,810 in the last three months. Insiders own 0.67% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMA. Lazard Asset Management LLC raised its position in shares of Comerica by 51.9% during the second quarter. Lazard Asset Management LLC now owns 395 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 135 shares during the period. Kings Point Capital Management acquired a new stake in shares of Comerica during the third quarter worth about $32,000. Canton Hathaway LLC acquired a new stake in shares of Comerica during the third quarter worth about $36,000. AGF Investments LLC acquired a new stake in shares of Comerica during the third quarter worth about $40,000. Finally, Arlington Partners LLC acquired a new stake in shares of Comerica during the fourth quarter worth about $48,000. 79.32% of the stock is currently owned by institutional investors.

About Comerica (NYSE:CMA)

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment is involved in middle market businesses, multinational corporations, and governmental entities by offering various products and services such as 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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