Comerica Incorporated (NYSE:CMA) Given Average Recommendation of “Hold” by Analysts

Comerica Incorporated (NYSE:CMA) has been assigned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $59.62.

Several brokerages recently weighed in on CMA. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th.

Insider Activity at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Price T Rowe Associates Inc. MD lifted its holdings in shares of Comerica by 105.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after acquiring an additional 1,370,886 shares during the period. Samlyn Capital LLC acquired a new position in shares of Comerica in the 2nd quarter valued at about $35,375,000. Vanguard Group Inc. lifted its position in shares of Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Comerica by 311.2% during the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock worth $33,845,000 after purchasing an additional 501,857 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Trading Up 0.4 %

Shares of NYSE CMA opened at $62.60 on Friday. Comerica has a 12-month low of $37.40 and a 12-month high of $63.27. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 12.45 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $57.70 and its 200 day simple moving average is $53.69.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the business posted $2.01 earnings per share. Equities research analysts expect that Comerica will post 5.12 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.54%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

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.