Comerica (NYSE:CMA) Receives Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Comerica (NYSE:CMA) in a research note published on Friday, Benzinga reports. The brokerage currently has a $64.00 target price on the financial services provider’s stock.

Several other research firms also recently weighed in on CMA. The Goldman Sachs Group raised Comerica from a neutral rating to a buy rating and set a $70.50 price objective for the company in a research note on Thursday, January 4th. Jefferies Financial Group dropped their price objective on Comerica from $65.00 to $60.00 and set a buy rating for the company in a research note on Monday, April 8th. Barclays raised their price objective on Comerica from $49.00 to $59.00 and gave the company an underweight rating in a research note on Tuesday, January 2nd. Morgan Stanley increased their target price on Comerica from $45.00 to $54.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Finally, TheStreet upgraded Comerica from a c+ rating to a b- rating in a report on Tuesday, December 26th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $58.02.

Comerica Stock Up 1.8 %

CMA opened at $51.58 on Friday. The company has a market cap of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27. The business has a 50 day moving average price of $51.38 and a two-hundred day moving average price of $49.23. Comerica has a 52 week low of $28.40 and a 52 week high of $57.39. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same period in the prior year, the business posted $2.39 EPS. As a group, research analysts anticipate that Comerica will post 5.09 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.51%. The ex-dividend date was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comerica

A number of hedge funds have recently bought and sold shares of CMA. Private Advisor Group LLC grew its stake in Comerica by 9.3% in the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 568 shares in the last quarter. MetLife Investment Management LLC grew its stake in Comerica by 22.7% in the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 6,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Comerica by 6.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 1,024 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Comerica by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 4,165 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Comerica

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.