Comerica Incorporated (NYSE:CMA) Given Average Rating of “Hold” by Analysts

Shares of Comerica Incorporated (NYSE:CMA) have been given an average rating of “Hold” by the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $68.29.

CMA has been the subject of several recent research reports. Compass Point upped their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler raised their target price on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised their target price on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. decreased their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st.

Comerica Trading Up 1.2 %

Shares of Comerica stock opened at $57.75 on Monday. The stock has a fifty day simple moving average of $63.81 and a 200 day simple moving average of $63.40. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a market capitalization of $7.58 billion, a P/E ratio of 11.50 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 period in the prior year, the company posted $1.46 EPS. On average, sell-side analysts anticipate 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.92%. Comerica’s dividend payout ratio is currently 56.57%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont boosted its stake in Comerica by 300.0% in 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 during the period. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the 4th quarter valued at about $31,000. MCF Advisors LLC boosted its position in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.