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

Shares of Comerica Incorporated (NYSE:CMA) have earned a consensus rating of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $68.16.

CMA has been the topic of a number of research reports. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 31st. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Wells Fargo & Company dropped their target price on Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Finally, Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th.

Comerica Stock Down 7.0 %

Shares of CMA opened at $51.22 on Friday. The company’s 50-day moving average price is $60.69 and its 200 day moving average price is $63.17. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $6.72 billion, a P/E ratio of 10.20 and a beta of 0.96.

Comerica (NYSE:CMA) last released its quarterly 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, sell-side analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio (DPR) is 56.57%.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after buying an additional 490,468 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of Comerica during the fourth quarter worth about $206,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica during the fourth quarter worth about $82,419,000. Jones Financial Companies Lllp increased its position in shares of Comerica by 220.9% during the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 7,408 shares in the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of Comerica in the 4th quarter valued at about $784,000. Institutional investors and hedge funds 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.