Comerica (NYSE:CMA) PT Raised to $62.00

Comerica (NYSE:CMA) had its target price boosted by Royal Bank of Canada from $61.00 to $62.00 in a research report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Several other brokerages also recently commented on CMA. Truist Financial raised their target price on Comerica from $60.00 to $62.00 and gave the company a buy rating in a research note on Monday, April 1st. Argus downgraded Comerica from a buy rating to a hold rating in a research note on Monday, January 29th. The Goldman Sachs Group upgraded Comerica from a neutral rating to a buy rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Evercore ISI lifted their price target on Comerica from $55.00 to $58.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Finally, Raymond James downgraded Comerica from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $56.89.

Comerica Stock Performance

Shares of CMA opened at $52.59 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a 50-day moving average of $51.38 and a 200-day moving average of $49.45. The company has a market cap of $6.97 billion, a PE ratio of 10.46 and a beta of 1.27. Comerica has a one year low of $28.40 and a one year high of $57.39.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period last year, the business posted $2.39 EPS. On average, equities research analysts predict that Comerica will post 5.09 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. Comerica’s payout ratio is 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

A number of hedge funds and other institutional investors have recently bought and sold shares of CMA. Oakworth Capital Inc. increased its holdings in shares of Comerica by 3.2% in the first quarter. Oakworth Capital Inc. now owns 238,228 shares of the financial services provider’s stock worth $13,100,000 after purchasing an additional 7,365 shares during the period. Lloyd Advisory Services LLC. increased its holdings in shares of Comerica by 293.0% in the first quarter. Lloyd Advisory Services LLC. now owns 30,795 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 22,960 shares during the period. Contravisory Investment Management Inc. bought a new position in shares of Comerica in the first quarter worth $497,000. Wedmont Private Capital increased its holdings in shares of Comerica by 11.5% in the first quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 730 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Comerica by 7.6% in the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 230 shares during the period. Institutional investors own 80.74% of the company’s stock.

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.