Comerica Incorporated (NYSE:CMA) Receives $68.29 Consensus PT from Analysts

Shares of Comerica Incorporated (NYSE:CMA) have been assigned a consensus rating of “Hold” from the twenty-two brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $68.29.

CMA has been the topic of a number of research reports. Compass Point upped their target price on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada cut their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays upped their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. Robert W. Baird upped their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler upped their target price on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd.

Institutional Trading of Comerica

Several hedge funds have recently bought and sold shares of the stock. Wedmont Private Capital raised its holdings 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 during the period. Blue Trust Inc. raised its holdings 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 during the period. Bessemer Group Inc. raised its holdings 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 during the period. V Square Quantitative Management LLC raised its holdings in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Up 1.3 %

Shares of NYSE CMA opened at $59.06 on Monday. The firm’s 50-day simple moving average is $63.56 and its 200 day simple moving average is $63.39. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 11.77 and a beta of 1.23. 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 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last released 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the company earned $1.46 EPS. On average, research analysts expect that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

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

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.