Comerica (NYSE:CMA) Sets New 52-Week High – What’s Next?

by · The Cerbat Gem

Comerica Incorporated (NYSE:CMA – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $85.48 and last traded at $85.2720, with a volume of 64153 shares. The stock had previously closed at $83.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $93.00 target price (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Wells Fargo & Company lifted their price objective on Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Royal Bank Of Canada boosted their price objective on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Cantor Fitzgerald assumed coverage on Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Evercore ISI set a $88.00 target price on Comerica and gave the company an “in-line” rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.26.

View Our Latest Report on CMA

Comerica Trading Up 2.3%

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.95 billion, a P/E ratio of 16.37 and a beta of 1.07. The business has a 50-day moving average price of $78.17 and a two-hundred day moving average price of $69.32.

Comerica (NYSE:CMA – Get Free Report) last announced its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The firm had revenue of $824.00 million during the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. On average, analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s dividend payout ratio (DPR) is currently 54.20%.

Institutional Trading of Comerica

Several hedge funds have recently added to or reduced their stakes in the business. Greenleaf Trust grew its stake in Comerica by 1.7% in the third quarter. Greenleaf Trust now owns 7,753 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 131 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Comerica by 0.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 30,380 shares of the financial services provider’s stock valued at $2,082,000 after purchasing an additional 131 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Comerica by 2.8% in the 3rd quarter. Cresset Asset Management LLC now owns 5,073 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 139 shares during the period. Center for Financial Planning Inc. increased its stake in Comerica by 41.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 150 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its holdings in Comerica by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,272 shares of the financial services provider’s stock worth $567,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

About Comerica

(Get Free Report)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.

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