DA Davidson Lowers Comerica (NYSE:CMA) Price Target to $73.00

Comerica (NYSE:CMA) had its price objective decreased by DA Davidson from $75.00 to $73.00 in a research report report published on Thursday, AnalystRatings.com reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Several other analysts have also recently commented on CMA. Goldman Sachs Group cut Comerica from a neutral rating to a sell rating and set a $70.00 target price for the company. in a research report on Tuesday, July 2nd. ValuEngine raised Comerica from a sell rating to a hold rating in a research report on Wednesday, October 2nd. BMO Capital Markets reduced their price objective on Comerica to $78.00 and set a market perform rating for the company in a research report on Thursday, July 18th. SunTrust Banks reduced their price objective on Comerica from $75.00 to $67.00 and set a hold rating for the company in a research report on Tuesday, September 10th. Finally, Stephens reissued a hold rating and set a $72.00 price objective on shares of Comerica in a research report on Wednesday. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $75.76.

Shares of Comerica stock traded up $0.86 during midday trading on Thursday, hitting $65.45. The company’s stock had a trading volume of 1,517,342 shares, compared to its average volume of 1,909,699. The firm has a market capitalization of $10.01 billion, a P/E ratio of 9.04, a PEG ratio of 0.61 and a beta of 1.53. The stock has a 50-day simple moving average of $64.09 and a 200-day simple moving average of $69.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.90. Comerica has a 1-year low of $58.54 and a 1-year high of $88.96.

Comerica (NYSE:CMA) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.06. The business had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $836.10 million. Comerica had a return on equity of 16.92% and a net margin of 33.29%. Comerica’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. As a group, sell-side analysts predict that Comerica will post 7.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $0.67 per share. The ex-dividend date was Thursday, September 12th. This represents a $2.68 annualized dividend and a yield of 4.09%. Comerica’s dividend payout ratio (DPR) is currently 37.02%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Comerica by 1.5% during the second quarter. Vanguard Group Inc. now owns 19,414,199 shares of the financial services provider’s stock valued at $1,410,248,000 after buying an additional 293,069 shares in the last quarter. BlackRock Inc. raised its holdings in Comerica by 2.1% during the second quarter. BlackRock Inc. now owns 11,709,951 shares of the financial services provider’s stock valued at $850,609,000 after buying an additional 243,799 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Comerica by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 3,650,889 shares of the financial services provider’s stock valued at $260,565,000 after buying an additional 157,524 shares in the last quarter. King Luther Capital Management Corp raised its holdings in Comerica by 2.1% during the second quarter. King Luther Capital Management Corp now owns 2,926,976 shares of the financial services provider’s stock valued at $212,616,000 after buying an additional 61,387 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Comerica by 62.1% during the second quarter. Invesco Ltd. now owns 2,745,769 shares of the financial services provider’s stock valued at $199,452,000 after buying an additional 1,051,819 shares in the last quarter. Institutional investors own 86.42% of the company’s stock.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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