Comerica (NYSE:CMA) Receives “Overweight” Rating from Stephens

Stephens restated their overweight rating on shares of Comerica (NYSE:CMAFree Report) in a research report report published on Tuesday, Benzinga reports. They currently have a $64.00 target price on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their price target on Comerica from $61.00 to $62.00 and gave the stock an outperform rating in a research note on Friday, April 19th. DA Davidson reissued a neutral rating and issued a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Morgan Stanley reissued an equal weight rating and issued a $53.00 price target on shares of Comerica in a research note on Monday, April 22nd. Piper Sandler lifted their price target on Comerica from $54.00 to $56.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group dropped their price target on Comerica from $69.00 to $62.00 and set a buy rating on the stock in a research note on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $55.77.

View Our Latest Report on Comerica

Comerica Price Performance

NYSE:CMA opened at $48.16 on Tuesday. The business’s 50-day moving average price is $51.60 and its 200 day moving average price is $51.95. The firm has a market cap of $6.39 billion, a P/E ratio of 9.58 and a beta of 1.25. Comerica has a 52-week low of $37.40 and a 52-week high of $57.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMAGet Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the company earned $2.39 earnings per share. As a group, sell-side analysts predict that Comerica will post 5.19 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.90%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Price T Rowe Associates Inc. MD lifted its holdings in Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares during the last quarter. Norges Bank bought a new position in Comerica in the 4th quarter worth approximately $80,691,000. Azora Capital LP bought a new position in Comerica in the 4th quarter worth approximately $63,548,000. Vaughan Nelson Investment Management L.P. increased its position in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after buying an additional 1,088,330 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Comerica by 60.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after buying an additional 984,391 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Comerica

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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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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