Brokerages Set Comerica Incorporated (NYSE:CMA) PT at $68.16

Shares of Comerica Incorporated (NYSE:CMA) have been given an average recommendation of “Hold” by the twenty research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $68.16.

A number of equities analysts have recently issued reports on CMA shares. Raymond James lowered their price objective on Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target 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. Morgan Stanley cut shares of Comerica from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Finally, Barclays upped their price target 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.

Comerica Stock Down 0.9 %

NYSE:CMA opened at $50.83 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica has a one year low of $45.32 and a one year high of $73.45. The firm’s 50 day simple moving average is $60.35 and its 200 day simple moving average is $63.14. The company has a market cap of $6.67 billion, a PE ratio of 10.13 and a beta of 0.96.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 firm posted $1.46 earnings per share. On average, research analysts anticipate that Comerica will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.59%. Comerica’s dividend payout ratio is presently 56.57%.

Hedge Funds Weigh In On Comerica

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Independent Advisor Alliance purchased a new stake in Comerica in the 4th quarter valued at about $206,000. Jupiter Asset Management Ltd. bought a new position in shares of Comerica during the 4th quarter worth approximately $82,419,000. Jones Financial Companies Lllp boosted its stake in shares of Comerica by 220.9% in the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after buying an additional 7,408 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in shares of Comerica in the fourth quarter valued at approximately $784,000. 80.74% of the stock is currently owned by institutional investors.

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.