Evercore ISI Trims Comerica (NYSE:CMA) Target Price to $54.00

Comerica (NYSE:CMAFree Report) had its price target trimmed by Evercore ISI from $58.00 to $54.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an in-line rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on CMA. The Goldman Sachs Group cut their price target on shares of Comerica from $69.00 to $62.00 and set a buy rating for the company in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft assumed 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. Piper Sandler raised their price objective on Comerica from $54.00 to $56.00 and gave the company a neutral rating in a research note on Friday, April 26th. Truist Financial dropped their target price on shares of Comerica from $60.00 to $55.00 and set a buy rating on the stock in a report on Thursday, June 13th. Finally, Robert W. Baird cut their price target on Comerica from $72.00 to $68.00 and set an outperform rating for the company in a report on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of Hold and an average price target of $56.13.

Read Our Latest Report on CMA

Comerica Trading Up 0.1 %

Shares of CMA opened at $47.84 on Tuesday. The company has a market capitalization of $6.34 billion, a P/E ratio of 9.51 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day moving average price of $50.68 and a 200 day moving average price of $51.97. Comerica has a one year low of $37.40 and a one year high of $57.39.

Comerica (NYSE:CMAGet Free Report) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping 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 net margin of 13.11% and a return on equity of 16.51%. During the same period in the prior year, the company earned $2.39 earnings per share. Sell-side analysts forecast that Comerica will post 5.08 EPS for the current fiscal year.

Comerica Dividend Announcement

The company 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 annualized dividend and a yield of 5.94%. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pitcairn Co. increased its stake in Comerica by 2.9% in the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 190 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of Comerica by 1.7% during the fourth 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 during the period. Fruth Investment Management increased its position in shares of Comerica by 1.6% in the fourth quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 200 shares during the period. Texas Permanent School Fund Corp raised its position in Comerica by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock valued at $1,498,000 after purchasing an additional 201 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Comerica by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 219 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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