Comerica Incorporated (NYSE:CMA) Receives $54.95 Consensus Price Target from Analysts

Comerica Incorporated (NYSE:CMA) has been given an average rating of “Hold” by the twenty-two research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $55.45.

Several equities research analysts recently commented on the stock. Truist Financial lowered shares of Comerica from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $53.00 in a research note on Monday, July 22nd. Evercore ISI reduced their target price on Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. 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. Wells Fargo & Company reduced their price objective on Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Finally, StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

Comerica Trading Up 1.8 %

NYSE:CMA opened at $52.57 on Friday. Comerica has a 1 year low of $37.40 and a 1 year high of $58.50. The stock has a market cap of $6.97 billion, a P/E ratio of 10.45 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a 50-day simple moving average of $50.84 and a 200-day simple moving average of $51.56.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same period in the prior year, the company posted $2.01 earnings per share. As a group, analysts anticipate that Comerica will post 5.05 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Hedge Funds Weigh In On Comerica

A number of large investors have recently made changes to their positions in CMA. Spire Wealth Management grew its position in Comerica by 95.9% during 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 period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Comerica in the 4th quarter worth approximately $36,000. Family Firm Inc. acquired a new stake in shares of Comerica in the 2nd quarter worth approximately $37,000. UMB Bank n.a. increased its stake in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 817 shares during the last quarter. Hedge funds and other 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.