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

Shares of Comerica Incorporated (NYSE:CMA) have earned an average rating of “Hold” from the twenty-three brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $56.89.

CMA has been the topic of several research reports. Piper Sandler raised their target price on shares of Comerica from $53.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Finally, Jefferies Financial Group dropped their price target on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th.

Comerica Trading Down 1.5 %

Shares of CMA stock opened at $52.16 on Friday. Comerica has a 12-month low of $28.40 and a 12-month high of $57.39. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. The firm’s 50 day moving average is $51.51 and its 200 day moving average is $49.58. The stock has a market capitalization of $6.91 billion, a P/E ratio of 10.37 and a beta of 1.27.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. During the same quarter last year, the company posted $2.39 earnings per share. Research analysts expect that Comerica will post 5.15 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.44%. Comerica’s payout ratio is currently 56.46%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Comerica

Several large investors have recently modified their holdings of the business. Bison Wealth LLC raised its holdings in shares of Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management raised its holdings in shares of Comerica by 1.6% in the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 200 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Comerica by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 219 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 230 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 235 shares in 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.