Comerica Incorporated (NYSE:CMA) Given Consensus Rating of “Hold” by Analysts

Comerica Incorporated (NYSE:CMA) has received a consensus rating of “Hold” from the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $68.33.

Several research firms have commented on CMA. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Stephens raised their price target on shares of Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley decreased their price objective on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating for the company in a research report on Thursday. Barclays lifted their price objective 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. Finally, UBS Group began coverage on shares of Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target on the stock.

Insider Activity

In other news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently bought and sold shares of CMA. Trust Co. of Vermont increased its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC purchased a new stake in Comerica during the 4th quarter worth $31,000. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the third quarter worth about $36,000. MCF Advisors LLC lifted its stake in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the third quarter worth about $42,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Trading Up 1.2 %

Shares of Comerica stock opened at $63.26 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. The business has a 50-day moving average price of $65.56 and a 200-day moving average price of $60.95. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 12.60 and a beta of 1.26.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities research analysts anticipate that Comerica will post 5.36 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Comerica declared that its board has authorized a share repurchase plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.