Piper Jaffray Companies set a $106.00 target price on Comerica (NYSE:CMA) in a report published on Tuesday morning. The brokerage currently has a buy rating on the financial services provider’s stock. Piper Jaffray Companies also issued estimates for Comerica’s Q4 2018 earnings at $1.93 EPS, FY2018 earnings at $7.23 EPS, Q1 2019 earnings at $1.96 EPS, Q3 2019 earnings at $1.98 EPS, FY2019 earnings at $7.93 EPS, Q1 2020 earnings at $2.06 EPS, Q2 2020 earnings at $2.07 EPS, Q3 2020 earnings at $2.15 EPS and FY2020 earnings at $8.48 EPS.
Other equities research analysts also recently issued reports about the stock. Nomura lowered their price target on shares of Comerica from $114.00 to $102.00 and set a buy rating on the stock in a report on Wednesday, October 17th. B. Riley set a $107.00 price target on shares of Comerica and gave the stock a buy rating in a report on Monday, October 15th. Vining Sparks reissued a buy rating and issued a $107.00 price target on shares of Comerica in a report on Tuesday, October 9th. Morgan Stanley lowered their price target on shares of Comerica from $111.00 to $107.00 and set an equal weight rating on the stock in a report on Tuesday, September 18th. Finally, Zacks Investment Research downgraded shares of Comerica from a buy rating to a hold rating in a report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Comerica presently has an average rating of Hold and a consensus target price of $101.61.
Shares of Comerica stock opened at $75.15 on Tuesday. Comerica has a 12-month low of $73.51 and a 12-month high of $102.66. The stock has a market capitalization of $12.35 billion, a PE ratio of 15.89, a PEG ratio of 0.54 and a beta of 1.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, December 13th. Comerica’s dividend payout ratio is currently 50.74%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Columbia Asset Management bought a new position in Comerica during the third quarter valued at approximately $115,000. Stratos Wealth Partners LTD. bought a new position in Comerica during the third quarter valued at approximately $163,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Comerica by 83.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,834 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 836 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Comerica during the second quarter valued at approximately $183,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Comerica during the third quarter valued at approximately $206,000. 84.97% of the stock is currently owned by institutional investors and hedge funds.
Comerica Company Profile
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the 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, and loan syndication.
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