Comerica (NYSE:CMA) Rating Reiterated by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Comerica (NYSE:CMAFree Report) in a research note published on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a $58.00 target price on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler raised their target price on Comerica from $54.00 to $56.00 and gave the company a neutral rating in a research note on Friday, April 26th. Evercore ISI raised their target price on Comerica from $55.00 to $58.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Royal Bank of Canada raised their target price on Comerica from $61.00 to $62.00 and gave the company an outperform rating in a research note on Friday, April 19th. Citigroup cut shares of Comerica from a buy rating to a neutral rating and cut their price objective for the company from $60.00 to $56.00 in a research note on Monday, May 6th. Finally, Jefferies Financial Group cut their price objective 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. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica currently has an average rating of Hold and an average target price of $55.77.

Get Our Latest Stock Analysis on Comerica

Comerica Stock Performance

Shares of CMA opened at $48.16 on Tuesday. The business’s fifty day moving average price is $51.60 and its 200 day moving average price is $51.95. Comerica has a 12-month low of $37.40 and a 12-month high of $57.39. The stock has a market capitalization of $6.39 billion, a PE ratio of 9.58 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95.

Comerica (NYSE:CMAGet Free Report) last posted its earnings results 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. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations 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 earnings per share. Equities research analysts forecast that Comerica will post 5.19 EPS for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 5.90%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s payout ratio is currently 56.46%.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comerica

A number of institutional investors have recently bought and sold shares of CMA. Spire Wealth Management increased its stake in Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Comerica in the 4th quarter worth about $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in Comerica in the 4th quarter worth about $36,000. FNY Investment Advisers LLC purchased a new position in Comerica during the 4th quarter valued at about $50,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Comerica during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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