Comerica Incorporated (NYSE:CMA) Receives $59.62 Consensus Price Target from Brokerages

Comerica Incorporated (NYSE:CMA) has been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have assigned 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 $59.62.

A number of equities analysts recently commented on CMA shares. Barclays decreased their price objective on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. DA Davidson reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Piper Sandler raised their price target on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Evercore ISI raised their price target on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their price target on shares of Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, October 7th.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comerica

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 1.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after acquiring an additional 19,068 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Comerica by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after acquiring an additional 130,458 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Comerica by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock worth $73,077,000 after acquiring an additional 87,101 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Trading Up 3.7 %

Comerica stock opened at $64.94 on Friday. The company has a 50 day moving average price of $57.96 and a 200 day moving average price of $53.77. Comerica has a 52 week low of $37.40 and a 52 week high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 12.91 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.19. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same quarter last year, the business posted $1.84 EPS. Research analysts forecast that Comerica will post 5.12 EPS for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.37%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

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.