Comerica (NYSE:CMA) PT Raised to $75.00

Comerica (NYSE:CMAGet Rating) had its target price hoisted by JPMorgan Chase & Co. from $72.00 to $75.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the stock. Raymond James lowered their price objective on shares of Comerica from $85.00 to $84.00 and set an outperform rating for the company in a research note on Friday. Piper Sandler lowered their price objective on shares of Comerica to $85.00 in a research note on Thursday, October 20th. Wedbush lowered their price objective on shares of Comerica from $95.00 to $84.00 and set an outperform rating for the company in a research note on Thursday, October 20th. The Goldman Sachs Group lowered their price objective on shares of Comerica from $94.00 to $84.00 and set a neutral rating for the company in a research note on Monday, October 3rd. Finally, Royal Bank of Canada lowered their price objective on shares of Comerica from $95.00 to $90.00 and set an outperform rating for the company in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of Moderate Buy and an average target price of $83.02.

Comerica Stock Up 4.1 %

Comerica stock opened at $71.96 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.85. Comerica has a 52-week low of $62.83 and a 52-week high of $102.09. The firm has a 50 day moving average price of $67.90 and a two-hundred day moving average price of $73.35. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 2.18 and a beta of 1.18.

Comerica (NYSE:CMAGet Rating) last released its quarterly earnings results on Thursday, January 19th. The financial services provider reported $2.58 earnings per share (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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.66 EPS. Equities analysts predict that Comerica will post 9.66 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Thursday, December 15th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Wednesday, December 14th. Comerica’s dividend payout ratio (DPR) is currently 32.11%.

Hedge Funds Weigh In On Comerica

A number of hedge funds and other institutional investors have recently made changes to their positions in CMA. Private Advisor Group LLC boosted its holdings in shares of Comerica by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock worth $605,000 after buying an additional 568 shares during the last quarter. MetLife Investment Management LLC raised its stake in Comerica by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after acquiring an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Comerica by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock valued at $1,581,000 after buying an additional 1,024 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Comerica by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 2,163 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of 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 during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Comerica

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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