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

Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus recommendation of “Hold” by the twenty analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.95.

Several research analysts recently weighed in on the company. UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods cut their target price on Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered Comerica from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Truist Financial set a $61.00 price objective on Comerica and gave the company a “hold” rating in a research report on Friday, June 13th. Finally, Robert W. Baird cut their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd.

Comerica Trading Up 1.5%

Shares of Comerica stock opened at $58.20 on Wednesday. Comerica has a fifty-two week low of $47.33 and a fifty-two week high of $73.45. The firm has a market cap of $7.65 billion, a PE ratio of 11.00 and a beta of 0.92. The business’s fifty day moving average is $56.04 and its two-hundred day moving average is $59.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86.

Comerica (NYSE:CMA) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 11.59% and a net margin of 14.89%. During the same period last year, the company posted $1.29 EPS. Analysts anticipate that Comerica will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.88%. Comerica’s payout ratio is currently 53.69%.

Hedge Funds Weigh In On Comerica

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its stake in Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. boosted its position in shares of Comerica by 2.0% during the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock worth $672,000 after buying an additional 211 shares during the period. Keeley Teton Advisors LLC boosted its position in shares of Comerica by 0.7% during the first quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider’s stock worth $1,895,000 after buying an additional 217 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Comerica by 0.3% during the first quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider’s stock worth $4,985,000 after buying an additional 221 shares during the period. Finally, US Bancorp DE boosted its position in shares of Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after buying an additional 227 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.