Comerica Incorporated (NYSE:CMA) Receives $68.57 Consensus PT from Brokerages

Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus rating of “Hold” by the twenty-two analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $68.57.

Several research firms have weighed in on CMA. Keefe, Bruyette & Woods cut their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird upped their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Truist Financial upgraded Comerica to a “hold” rating in a research note on Monday, January 6th. Compass Point upped their target price on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI upped their target price on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th.

Comerica Trading Down 2.2 %

Shares of NYSE:CMA opened at $65.54 on Thursday. The company has a market capitalization of $8.62 billion, a P/E ratio of 13.06 and a beta of 1.25. Comerica has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day simple moving average is $64.37 and its 200 day simple moving average is $62.78.

Comerica (NYSE:CMA) last issued 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 return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the company posted $1.46 EPS. On average, research analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Comerica announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont increased its holdings in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC increased its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC increased its holdings in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares in the last quarter. 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.