Comerica Incorporated (NYSE:CMA) Receives $68.29 Consensus Price Target from Brokerages

Comerica Incorporated (NYSE:CMA) has been given an average rating of “Hold” by the twenty-two brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $68.29.

Several equities analysts have weighed in on the company. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada cut their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Compass Point raised their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Finally, Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th.

Comerica Trading Down 0.1 %

Shares of CMA opened at $58.99 on Monday. The firm’s 50-day moving average is $63.47 and its two-hundred day moving average is $63.37. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.75 billion, a P/E ratio of 11.75 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company posted $1.46 earnings per share. On average, research analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

Institutional Trading of Comerica

A number of institutional investors have recently modified their holdings of the company. Wedmont Private Capital grew its holdings in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 186 shares during the period. Blue Trust Inc. grew its holdings in shares of Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. grew its holdings in shares of Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock worth $672,000 after purchasing an additional 211 shares during the period. V Square Quantitative Management LLC boosted its holdings in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 221 shares during the period. Finally, US Bancorp DE boosted its holdings in Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 227 shares during the period. Hedge funds and other 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.