Comerica Incorporated (NYSE:CMA) Receives Average Rating of “Hold” from Brokerages

Comerica Incorporated (NYSE:CMA) has received a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $57.02.

A number of research analysts have weighed in on CMA shares. TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Truist Financial boosted their price target on shares of Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Stephens reissued an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research report on Wednesday, March 6th.

Comerica Stock Performance

Shares of NYSE:CMA opened at $52.64 on Monday. The firm has a 50 day moving average of $51.45 and a 200 day moving average of $48.50. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 8.17 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. Comerica has a 52 week low of $28.40 and a 52 week high of $57.39.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the previous year, the company earned $2.58 earnings per share. On average, sell-side analysts predict that Comerica will post 5.23 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.40%. Comerica’s payout ratio is currently 44.10%.

Insider Buying and Selling at Comerica

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 230 shares in the last quarter. CWM LLC grew its holdings in Comerica by 4.0% during the 1st quarter. CWM LLC now owns 17,044 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 653 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Comerica during the 4th quarter worth $1,651,000. PNC Financial Services Group Inc. grew its holdings in Comerica by 1.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 47,903 shares of the financial services provider’s stock worth $2,673,000 after acquiring an additional 501 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after acquiring an additional 676,959 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Company Profile

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.