Comerica (NYSE:CMA) Upgraded by Wells Fargo & Company to Outperform

Wells Fargo & Company upgraded shares of Comerica (NYSE:CMAGet Rating) to an outperform rating in a research note published on Monday, Stock Target Advisor reports. They currently have $85.00 price objective on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Barclays cut their target price on shares of Comerica from $105.00 to $87.00 and set an underweight rating for the company in a research note on Thursday, October 20th. Citigroup decreased their price target on shares of Comerica from $95.00 to $90.00 and set a buy rating for the company in a report on Thursday, October 6th. Stephens dropped their price target on shares of Comerica from $100.00 to $93.00 and set an overweight rating on the stock in a research report on Thursday, October 20th. Compass Point decreased their price target on shares of Comerica to $88.00 in a research note on Thursday, October 20th. Finally, Wedbush dropped their price target on shares of Comerica from $95.00 to $84.00 and set an outperform rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned 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 $90.38.

Comerica Stock Performance

Comerica stock opened at $70.81 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $9.27 billion, a PE ratio of 9.38, a P/E/G ratio of 1.32 and a beta of 1.20. The firm has a fifty day simple moving average of $72.36 and a two-hundred day simple moving average of $76.40. Comerica has a twelve month low of $64.11 and a twelve month high of $102.09.

Comerica (NYSE:CMAGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period in the previous year, the firm earned $1.90 EPS. Research analysts expect that Comerica will post 8.53 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be issued a $0.68 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $2.72 annualized dividend and a yield of 3.84%. Comerica’s dividend payout ratio (DPR) is presently 36.03%.

Hedge Funds Weigh In On Comerica

Large investors have recently made changes to their positions in the business. M&T Bank Corp increased its position in shares of Comerica by 6.1% during the third quarter. M&T Bank Corp now owns 9,060 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 517 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Comerica by 60.2% during the third quarter. Glenmede Trust Co. NA now owns 11,546 shares of the financial services provider’s stock valued at $819,000 after acquiring an additional 4,341 shares in the last quarter. Captrust Financial Advisors grew its position in Comerica by 1.9% in the 3rd quarter. Captrust Financial Advisors now owns 17,994 shares of the financial services provider’s stock worth $1,279,000 after purchasing an additional 340 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its position in Comerica by 4.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 221 shares during the period. Finally, Kentucky Retirement Systems grew its position in Comerica by 5.5% in the 3rd quarter. Kentucky Retirement Systems now owns 10,240 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 535 shares during the period. 82.56% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Company Profile

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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 meets the needs of small and 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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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