UBS Group Cuts Comerica (NYSE:CMA) Price Target to $55.00

Comerica (NYSE:CMA) had its price objective lowered by UBS Group from $59.00 to $55.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other research firms also recently weighed in on CMA. Barclays upped their price target on shares of Comerica from $49.00 to $59.00 and gave the stock an underweight rating in a research report on Tuesday, January 2nd. Jefferies Financial Group cut their price objective on shares of Comerica from $65.00 to $60.00 and set a buy rating for the company in a report on Monday, April 8th. Argus downgraded shares of Comerica from a buy rating to a hold rating in a report on Monday, January 29th. The Goldman Sachs Group upgraded shares of Comerica from a neutral rating to a buy rating and set a $70.50 price objective for the company in a report on Thursday, January 4th. Finally, Royal Bank of Canada cut their price objective on shares of Comerica from $63.00 to $61.00 and set an outperform rating for the company in a report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $57.02.

Comerica Stock Up 1.8 %

CMA opened at $51.56 on Friday. Comerica has a twelve month low of $28.40 and a twelve month 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. The company has a 50-day moving average price of $51.38 and a 200 day moving average price of $49.36. The company has a market cap of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27.

Comerica (NYSE:CMA) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping 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 firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the firm earned $2.39 EPS. Sell-side analysts expect that Comerica will post 5.09 earnings per share for the current fiscal year.

Comerica Dividend Announcement

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

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’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 value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the executive vice president now 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.

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates raised its holdings in shares of Comerica by 18.1% in the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock valued at $11,348,000 after purchasing an additional 31,125 shares in the last quarter. NewEdge Wealth LLC acquired a new stake in shares of Comerica in the 4th quarter valued at $10,068,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Comerica by 73.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider’s stock valued at $3,168,000 after purchasing an additional 23,947 shares in the last quarter. LSV Asset Management raised its holdings in shares of Comerica by 3.5% in the 3rd quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock valued at $28,211,000 after purchasing an additional 22,800 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Comerica by 607.3% during the 3rd quarter. Mackenzie Financial Corp now owns 303,143 shares of the financial services provider’s stock worth $12,007,000 after acquiring an additional 260,286 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.