Comerica (NYSE:CMA) Price Target Increased to $54.00 by Analysts at Piper Sandler

Comerica (NYSE:CMA) had its target price increased by Piper Sandler from $53.00 to $54.00 in a research report released on Friday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also weighed in on CMA. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a report on Wednesday, April 10th. They set a hold rating and a $59.00 target price for the company. Raymond James lowered shares of Comerica from an outperform rating to a market perform rating in a report on Monday, January 22nd. Barclays boosted their price target on shares of Comerica from $49.00 to $59.00 and gave the stock an underweight rating in a report on Tuesday, January 2nd. The Goldman Sachs Group raised shares of Comerica from a neutral rating to a buy rating and set a $70.50 target price on the stock in a research note on Thursday, January 4th. Finally, UBS Group lowered their target price on shares of Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a research note on Friday. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $58.02.

Comerica Stock Up 1.8 %

CMA stock opened at $51.58 on Friday. 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 has a 52 week low of $28.40 and a 52 week high of $57.39. The firm has a 50 day moving average of $51.38 and a 200 day moving average of $49.23. The stock has a market capitalization of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same period in the previous year, the business posted $2.39 EPS. Sell-side analysts forecast that Comerica will post 5.09 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid 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 payout ratio is currently 56.46%.

Insider Activity at Comerica

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMA. Spire Wealth Management increased its holdings in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Quarry LP bought a new position in shares of Comerica during the fourth quarter valued at approximately $26,000. Chilton Capital Management LLC bought a new position in shares of Comerica during the first quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in shares of Comerica during the fourth quarter valued at approximately $36,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Comerica during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.