Weekly Research Analysts’ Ratings Updates for Comerica (CMA)

Posted by MarketBeat News on May 2nd, 2024

Several brokerages have updated their recommendations and price targets on shares of Comerica (NYSE: CMA) in the last few weeks:

4/26/2024 – Comerica had its price target raised by analysts at Piper Sandler from $54.00 to $56.00. They now have a “neutral” rating on the stock.
4/22/2024 – Comerica had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $53.00 price target on the stock.
4/22/2024 – Comerica had its price target lowered by analysts at Truist Financial Co. from $62.00 to $60.00. They now have a “buy” rating on the stock.
4/19/2024 – Comerica had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $64.00 price target on the stock.
4/19/2024 – Comerica had its price target raised by analysts at Royal Bank of Canada from $61.00 to $62.00. They now have an “outperform” rating on the stock.
4/19/2024 – Comerica had its price target raised by analysts at Piper Sandler from $53.00 to $54.00. They now have a “neutral” rating on the stock.
4/19/2024 – Comerica had its price target lowered by analysts at UBS Group AG from $59.00 to $55.00. They now have a “neutral” rating on the stock.
4/10/2024 – Comerica is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “hold” rating and a $59.00 price target on the stock.
4/9/2024 – Comerica had its price target lowered by analysts at Royal Bank of Canada from $63.00 to $61.00. They now have an “outperform” rating on the stock.
4/8/2024 – Comerica had its price target lowered by analysts at Jefferies Financial Group Inc. from $65.00 to $60.00. They now have a “buy” rating on the stock.
4/4/2024 – Comerica had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $59.00 price target on the stock, down previously from $66.00.
4/1/2024 – Comerica had its price target raised by analysts at Truist Financial Co. from $60.00 to $62.00. They now have a “buy” rating on the stock.
3/28/2024 – Comerica had its price target raised by analysts at Evercore ISI from $55.00 to $58.00. They now have an “in-line” rating on the stock.
3/6/2024 – Comerica had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $64.00 price target on the stock.
3/6/2024 – Comerica had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $56.00 price target on the stock.

Comerica Stock Performance

Shares of NYSE CMA opened at $51.20 on Thursday. 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 Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The stock has a 50 day moving average of $51.56 and a 200-day moving average of $49.91. The company has a market capitalization of $6.79 billion, a P/E ratio of 10.18 and a beta of 1.27.

Comerica (NYSE:CMA – Get Free Report) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping 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 company 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 company posted $2.39 EPS. As a group, equities research analysts predict that Comerica Incorporated will post 5.16 EPS for the current year.

Comerica Announces Dividend

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The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid 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 5.55%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Activity at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the business’s 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 directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Wendy Bridges sold 3,034 shares of the business’s 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 directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were 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 owns 7,236 shares of the company’s stock, valued at $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Comerica

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Comerica by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock valued at $186,580,000 after acquiring an additional 48,526 shares during the period. Invesco Ltd. lifted its position in shares of Comerica by 4.4% during the 3rd quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock valued at $128,704,000 after acquiring an additional 130,997 shares during the period. North Reef Capital Management LP lifted its position in shares of Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after acquiring an additional 865,870 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Comerica by 60.7% during the 4th 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 during the period. 80.74% of the stock is currently owned by institutional investors.

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.