Comerica Incorporated (NYSE:CMA) Receives $56.89 Average Target Price from Brokerages

Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus rating of “Hold” by the twenty-two research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.89.

A number of equities analysts have recently commented on CMA shares. UBS Group cut their price target on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Argus cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. DA Davidson reiterated a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price target for the company. Finally, Citigroup lowered Comerica from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $60.00 to $56.00 in a research note on Monday, May 6th.

Insider Buying and Selling

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Comerica by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after buying an additional 676,959 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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. grew its holdings in Comerica by 4.4% in the third quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock worth $128,704,000 after purchasing an additional 130,997 shares during the period. North Reef Capital Management LP increased its stake in shares of Comerica by 43.0% during the third 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 purchasing an additional 865,870 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 984,391 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Down 5.7 %

CMA stock opened at $50.25 on Tuesday. Comerica has a fifty-two week low of $34.88 and a fifty-two week high of $57.39. The stock has a fifty day moving average of $52.53 and a 200-day moving average of $51.32. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 9.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95.

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, topping the consensus estimate of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter last year, the company earned $2.39 earnings per share. As a group, equities research analysts predict that Comerica will post 5.16 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.65%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

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.