Comerica (CMA) – Investment Analysts’ Weekly Ratings Changes

A number of research firms have changed their ratings and price targets for Comerica (NYSE: CMA):

• 9/10/2024 – Comerica had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $58.00 price target on the stock.
• 9/10/2024 – Comerica had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $55.00 price target on the stock.
• 9/6/2024 – Comerica was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/5/2024 – Comerica was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $69.00 price target on the stock, up previously from $50.00.
• 8/27/2024 – Comerica was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/5/2024 – Comerica had its price target raised by analysts at Morgan Stanley from $50.00 to $61.00. They now have an “equal weight” rating on the stock.
• 8/1/2024 – Comerica was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/22/2024 – Comerica had its price target lowered by analysts at Barclays PLC from $59.00 to $56.00. They now have an “underweight” rating on the stock.
• 7/22/2024 – Comerica had its price target lowered by analysts at Royal Bank of Canada from $58.00 to $56.00. They now have an “outperform” rating on the stock.
• 7/22/2024 – Comerica had its price target raised by analysts at Piper Sandler from $51.00 to $52.00. They now have a “neutral” rating on the stock.
• 7/22/2024 – Comerica was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 7/22/2024 – Comerica was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $53.00 price target on the stock, down previously from $55.00.
• 7/22/2024 – Comerica had its price target lowered by analysts at Morgan Stanley from $53.00 to $50.00. They now have an “equal weight” rating on the stock.

Comerica Stock Up 0.5 %

Shares of NYSE:CMA opened at $56.73 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $58.50. The firm has a market capitalization of $7.53 billion, a P/E ratio of 11.28 and a beta of 1.23. The stock has a 50 day moving average price of $54.40 and a 200-day moving average price of $52.23.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the previous year, the business posted $2.01 EPS. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.05 EPS 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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio is 56.46%.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in shares of Comerica by 17.4% in the fourth quarter. International Assets Investment Management LLC now owns 6,385 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 945 shares during the period. Victory Capital Management Inc. increased its position in shares of Comerica by 348.6% during the 4th quarter. Victory Capital Management Inc. now owns 22,699 shares of the financial services provider’s stock valued at $1,267,000 after purchasing an additional 17,639 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Comerica by 49.3% in the 4th quarter. Private Advisor Group LLC now owns 13,650 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 4,510 shares during the period. Principal Securities Inc. purchased a new position in shares of Comerica in the fourth quarter worth approximately $121,000. Finally, Dimensional Fund Advisors LP grew its position in Comerica by 60.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after buying an additional 984,391 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.