Comerica’s (CMA) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Comerica (NYSE:CMA) in a report published on Monday, Benzinga reports. Morgan Stanley currently has a $53.00 target price on the financial services provider’s stock.

A number of other analysts also recently commented on CMA. Truist Financial cut their price objective on shares of Comerica from $62.00 to $60.00 and set a buy rating for the company in a report on Monday. Piper Sandler increased their price objective on shares of Comerica from $53.00 to $54.00 and gave the company a neutral rating in a report on Friday, April 19th. Bank Of America (Bofa) increased their price objective on shares of Comerica from $52.00 to $55.00 and gave the company a neutral rating in a report on Thursday, January 18th. DA Davidson reiterated a neutral rating and issued a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Comerica in a report on Wednesday, April 10th. They set a hold rating and a $59.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $56.89.

Comerica Trading Up 0.6 %

Shares of Comerica stock opened at $52.95 on Monday. The firm has a market capitalization of $7.02 billion, a PE ratio of 10.53 and a beta of 1.27. Comerica has a twelve month low of $28.40 and a twelve month high of $57.39. The firm’s 50-day moving average price is $51.49 and its 200 day moving average price is $49.56. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period last year, the company posted $2.39 EPS. On average, sell-side analysts predict that Comerica will post 5.11 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.36%. Comerica’s dividend payout ratio is presently 56.46%.

Insider Buying and Selling at Comerica

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica 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 sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica 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 sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CMA. Norges Bank acquired a new position in Comerica in the fourth quarter valued at $80,691,000. Azora Capital LP acquired a new position in Comerica in the fourth quarter valued at $63,548,000. Vaughan Nelson Investment Management L.P. increased its stake in Comerica by 129.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares during the period. Dimensional Fund Advisors LP increased its stake in Comerica by 60.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after purchasing an additional 984,391 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the period. 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.