Brokerages Set Comerica Incorporated (NYSE:CMA) Price Target at $68.29

Comerica Incorporated (NYSE:CMA) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $68.29.

A number of equities analysts recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $72.00 target price on shares of Comerica in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays boosted their target price 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 initiated coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price on the stock.

Comerica Price Performance

Shares of Comerica stock opened at $59.06 on Monday. The firm has a fifty day simple moving average of $63.56 and a 200-day simple moving average of $63.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 11.77 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 business posted $1.46 EPS. On average, sell-side analysts expect that Comerica will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Friday, March 14th. Comerica’s payout ratio is 56.57%.

Institutional Investors Weigh In On Comerica

Several large investors have recently made changes to their positions in the company. Wedmont Private Capital lifted its position in Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. lifted its position in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after buying an additional 200 shares in the last quarter. Bessemer Group Inc. lifted its position in Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock worth $672,000 after buying an additional 211 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares in the last quarter. Finally, US Bancorp DE lifted its position in Comerica by 2.0% during the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after buying an additional 227 shares in the last quarter. 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.