DA Davidson reissued their hold rating on shares of Comerica Incorporated (NYSE:CMA) in a research note issued to investors on Wednesday, October 18th. The firm currently has a $81.00 price objective on the financial services provider’s stock. DA Davidson also issued estimates for Comerica’s Q4 2017 earnings at $1.27 EPS, FY2017 earnings at $4.89 EPS, Q1 2018 earnings at $1.30 EPS, Q2 2018 earnings at $1.32 EPS, Q3 2018 earnings at $1.38 EPS, Q4 2018 earnings at $1.43 EPS and FY2018 earnings at $5.42 EPS.
CMA has been the topic of a number of other reports. Piper Jaffray Companies reaffirmed a hold rating and issued a $76.00 price target on shares of Comerica in a research note on Friday, July 28th. BidaskClub cut Comerica from a buy rating to a hold rating in a research note on Tuesday, July 25th. Zacks Investment Research cut Comerica from a buy rating to a hold rating in a research note on Wednesday, August 23rd. Stephens reissued a buy rating and set a $80.00 target price on shares of Comerica in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a buy rating and set a $82.00 target price on shares of Comerica in a research note on Friday, September 8th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $77.60.
Shares of Comerica (NYSE:CMA) traded up 0.10% during mid-day trading on Wednesday, reaching $79.79. The company had a trading volume of 965,401 shares. The firm has a market capitalization of $13.85 billion, a PE ratio of 18.08 and a beta of 1.51. The stock has a 50 day moving average price of $74.61 and a 200 day moving average price of $71.94. Comerica has a 12-month low of $49.81 and a 12-month high of $80.25.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the previous year, the firm earned $0.84 EPS. On average, equities analysts forecast that Comerica will post $4.69 earnings per share for the current year.
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Comerica announced that its board has approved a stock buyback program on Tuesday, July 25th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, insider Peter William Guilfoile sold 2,928 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $69.50, for a total transaction of $203,496.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Judith S. Love sold 21,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total value of $1,464,540.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,249 shares of company stock worth $3,095,383. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in CMA. Janus Henderson Group PLC lifted its holdings in shares of 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 purchasing an additional 2,047,881 shares in the last quarter. Janus Capital Management LLC lifted its holdings in shares of Comerica by 153.1% during the first quarter. Janus Capital Management LLC now owns 1,911,788 shares of the financial services provider’s stock valued at $131,111,000 after purchasing an additional 1,156,304 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,142,275 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after purchasing an additional 965,041 shares in the last quarter. 82.48% of the stock is currently 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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