Comerica Incorporated (NYSE:CMA) Given Consensus Recommendation of “Hold” by Brokerages

Comerica Incorporated (NYSE:CMA) has been assigned an average rating of “Hold” from the twenty-two ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $55.77.

CMA has been the subject of several analyst reports. The Goldman Sachs Group cut their price target on shares of Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Piper Sandler boosted their price objective on Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Royal Bank of Canada cut their target price on shares of Comerica from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Comerica in a research note on Tuesday. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target on shares of Comerica in a research report on Monday, April 22nd.

Comerica Stock Performance

NYSE:CMA opened at $46.84 on Friday. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 9.31 and a beta of 1.25. The business has a 50 day moving average of $51.50 and a 200 day moving average of $51.93. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. Comerica has a 1-year low of $37.40 and a 1-year high of $57.39.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same period in the previous year, the business posted $2.39 EPS. On average, sell-side analysts predict that Comerica will post 5.18 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.06%. The ex-dividend date is Friday, June 14th. Comerica’s payout ratio is currently 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management boosted its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after buying an additional 235 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica during the 4th quarter worth $36,000. Fortitude Family Office LLC bought a new stake in shares of Comerica during the 4th quarter valued at $36,000. FNY Investment Advisers LLC purchased a new stake in shares of Comerica in the 4th quarter worth $50,000. Finally, Cullen Frost Bankers Inc. bought a new position in Comerica in the 4th quarter worth $51,000. 80.74% of the stock is 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.