News articles about Comerica (NYSE:CMA) have been trending somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Comerica earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 45.6697074281281 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news articles that may have effected Accern Sentiment’s analysis:
- Interesting CMA Put And Call Options For January 2020 (stockoptionschannel.com)
- Comerica Incorporated (CMA) Rating Reiterated by Royal Bank Of Canada (americanbankingnews.com)
- Comerica Extends Closure of Florida Banking Centers and Offices as Hurricane Irma Approaches Landfall (finance.yahoo.com)
- BRIEF-Comerica extends closure of Florida banking centers, offices (feeds.reuters.com)
- Comerica Incorporated (CMA) Rating Reiterated by FBR & Co (americanbankingnews.com)
Comerica (NYSE:CMA) opened at 66.75 on Tuesday. The stock has a 50 day moving average of $70.54 and a 200 day moving average of $70.74. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 16.67 and a beta of 1.49. Comerica has a one year low of $45.14 and a one year high of $75.72.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.07. Comerica had a net margin of 23.22% and a return on equity of 9.60%. The company had revenue of $776 million during the quarter, compared to the consensus estimate of $777.08 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Comerica will post $4.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a dividend of $0.30 per share. This is an increase from Comerica’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.80%. Comerica’s payout ratio is 26.00%.
Comerica announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $605.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and set a $81.00 price target on shares of Comerica in a research report on Monday, May 15th. Instinet reiterated a “neutral” rating and issued a $71.00 target price (up from $68.00) on shares of Comerica in a report on Wednesday, July 12th. Barclays PLC reiterated an “underweight” rating and issued a $76.00 target price (up from $72.00) on shares of Comerica in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $75.00 target price (up from $71.00) on shares of Comerica in a report on Thursday, July 6th. Finally, BidaskClub lowered shares of Comerica from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $74.19.
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In related news, insider Judith S. Love sold 21,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total value of $1,464,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter William Guilfoile sold 2,928 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $69.50, for a total transaction of $203,496.00. The disclosure for this sale can be found here. Insiders sold 44,249 shares of company stock valued at $3,095,383 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.
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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