Comerica (NYSE:CMA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Comerica (NYSE:CMA – Get Rating) in a report published on Thursday. The firm issued a hold rating on the financial services provider’s stock.

CMA has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Comerica from $72.00 to $75.00 and gave the company an overweight rating in a report on Monday, January 23rd. Wolfe Research increased their price target on Comerica from $79.00 to $80.00 in a research note on Thursday, December 1st. Piper Sandler lowered their price objective on Comerica from $82.00 to $70.00 in a research note on Friday, March 10th. Truist Financial cut their target price on shares of Comerica from $83.00 to $78.00 and set a buy rating for the company in a research report on Monday, January 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Comerica from $77.00 to $72.00 in a research note on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Comerica currently has a consensus rating of Moderate Buy and a consensus price target of $82.15.

Comerica Price Performance

Comerica stock opened at $43.59 on Thursday. The stock has a market cap of $5.73 billion, a P/E ratio of 5.15, a P/E/G ratio of 1.16 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $68.24 and its two-hundred day moving average price is $70.39. Comerica has a 52 week low of $29.17 and a 52 week high of $97.52.

Comerica (NYSE:CMA – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The financial services provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. Comerica had a net margin of 30.72% and a return on equity of 20.75%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. On average, equities analysts predict that Comerica will post 9.57 earnings per share for the current year.

Comerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Wednesday, March 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.52%. This is a boost from Comerica’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 14th. Comerica’s payout ratio is presently 33.53%.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 3,262 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $72.76, for a total transaction of $237,343.12. Following the completion of the transaction, the executive vice president now owns 6,825 shares of the company’s stock, valued at $496,587. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Comerica

A number of institutional investors have recently made changes to their positions in CMA. Lakewood Asset Management LLC purchased a new position in Comerica in the fourth quarter worth $267,000. Voya Investment Management LLC lifted its stake in Comerica by 2.3% during the fourth quarter. Voya Investment Management LLC now owns 46,209 shares of the financial services provider’s stock worth $3,089,000 after purchasing an additional 1,044 shares during the last quarter. Natixis boosted its holdings in shares of Comerica by 26.2% in the 4th quarter. Natixis now owns 10,166 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 2,110 shares in the last quarter. IMS Capital Management bought a new position in shares of Comerica during the 4th quarter valued at about $254,000. Finally, WealthPLAN Partners LLC bought a new position in shares of Comerica during the 4th quarter valued at about $243,000. Institutional investors own 81.91% of the company’s stock.

About Comerica

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial 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.