Comerica (NYSE:CMA) Given “Overweight” Rating at Stephens

Stephens restated their overweight rating on shares of Comerica (NYSE:CMA) in a research report report published on Thursday, Benzinga reports. Stephens currently has a $64.00 price target on the financial services provider’s stock.

Several other analysts also recently commented on CMA. Evercore ISI raised their price objective on shares of Comerica from $55.00 to $58.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Morgan Stanley reissued an equal weight rating and set a $53.00 price target on shares of Comerica in a report on Monday, April 22nd. UBS Group lowered their price objective on Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Truist Financial cut their target price on Comerica from $62.00 to $60.00 and set a buy rating for the company in a research report on Monday, April 22nd. Finally, Jefferies Financial Group decreased their target price on Comerica from $65.00 to $60.00 and set a buy rating on the stock in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $56.89.

Comerica Stock Performance

NYSE:CMA opened at $50.77 on Thursday. The stock has a 50-day simple moving average of $52.56 and a two-hundred day simple moving average of $51.44. 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 has a 52-week low of $34.88 and a 52-week high of $57.39. The firm has a market capitalization of $6.73 billion, a PE ratio of 10.09 and a beta of 1.27.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Analysts forecast that Comerica will post 5.19 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 5.59%. Comerica’s dividend payout ratio is currently 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction that occurred 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 transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several institutional investors have recently made changes to their positions in the company. Pitcairn Co. lifted its stake in Comerica by 2.9% in the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 190 shares during the last quarter. Bison Wealth LLC lifted its stake in shares of Comerica by 1.7% during the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 196 shares during the last quarter. Fruth Investment Management lifted its stake in shares of Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after acquiring an additional 200 shares during the last quarter. Texas Permanent School Fund Corp grew its position in Comerica by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock valued at $1,498,000 after acquiring an additional 201 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Comerica by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 219 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.