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

Comerica Incorporated (NYSE:CMA) has been assigned an average rating of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Two 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 objective among analysts that have covered the stock in the last year is $58.24.

A number of equities analysts have recently commented on CMA shares. Robert W. Baird lowered their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group lowered their target price on Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Evercore ISI lowered 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. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $52.00 to $75.00 in a report on Tuesday. Finally, Morgan Stanley upped their target price on Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th.

Insiders Place Their Bets

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 3,595,036 shares during the period. Norges Bank purchased a new position in Comerica during the 4th quarter valued at about $80,691,000. Dimensional Fund Advisors LP increased its holdings in Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after purchasing an additional 1,370,886 shares during the period. Azora Capital LP purchased a new position in Comerica during the 4th quarter valued at about $63,548,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $59.39 on Monday. The stock has a fifty day moving average price of $55.64 and a 200-day moving average price of $52.92. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 11.81 and a beta of 1.23. 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 has a fifty-two week low of $37.40 and a fifty-two week high of $61.84.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the prior year, the company posted $2.01 EPS. As a group, equities analysts anticipate that Comerica will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio is 56.46%.

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.