Comerica Incorporated (NYSE:CMA) Receives $56.89 Consensus PT from Analysts

Comerica Incorporated (NYSE:CMA) has earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $56.98.

Several equities analysts recently issued reports on CMA shares. UBS Group dropped their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Royal Bank of Canada boosted their price target on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. DA Davidson restated a “neutral” rating and issued a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Finally, Bank Of America (Bofa) boosted their price target on Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th.

Comerica Stock Down 0.2 %

Shares of NYSE CMA opened at $52.07 on Friday. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.35 and a beta of 1.27. The business has a 50-day moving average of $51.54 and a two-hundred day moving average of $49.77.

Comerica (NYSE:CMA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same period in the previous year, the business earned $2.39 EPS. On average, analysts forecast that Comerica will post 5.16 earnings per share 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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio is presently 56.46%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction 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 sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Comerica during the fourth quarter valued at about $80,691,000. Azora Capital LP acquired a new stake in shares of Comerica during the fourth quarter valued at about $63,548,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 129.3% during 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 acquiring an additional 1,088,330 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Comerica by 60.7% during 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 acquiring an additional 984,391 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew 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 valued at $143,109,000 after acquiring an additional 870,812 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

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.