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

Comerica Incorporated (NYSE:CMA) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $64.40.

A number of brokerages have issued reports on CMA. Jefferies Financial Group raised shares of Comerica from an “underperform” rating to a “hold” rating and increased their price objective for the company from $50.00 to $70.00 in a report on Wednesday, August 6th. DA Davidson set a $60.00 price objective on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. UBS Group set a $64.00 price objective on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Truist Financial increased their price objective on shares of Comerica from $61.00 to $68.00 and gave the company a “hold” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company cut their price objective on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd.

Comerica Price Performance

NYSE CMA opened at $67.65 on Thursday. Comerica has a 12 month low of $48.12 and a 12 month high of $73.45. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 12.25 and a beta of 0.94. The company’s 50 day moving average is $63.09 and its two-hundred day moving average is $60.07. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The company had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $844.39 million. During the same quarter last year, the business earned $1.49 EPS. As a group, research 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 Wednesday, October 1st. Stockholders of record on Monday, September 15th 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 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Comerica’s payout ratio is currently 54.41%.

Insiders Place Their Bets

In other news, insider James Mcgregor Carr sold 4,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the sale, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. This represents a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Comerica

A number of large investors have recently made changes to their positions in CMA. Salzhauer Michael boosted its stake in shares of Comerica by 39.2% during the fourth quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider’s stock valued at $10,265,000 after purchasing an additional 46,700 shares during the period. Wells Fargo & Company MN lifted its stake in Comerica by 31.9% in the fourth quarter. Wells Fargo & Company MN now owns 109,322 shares of the financial services provider’s stock worth $6,762,000 after acquiring an additional 26,415 shares during the period. Federated Hermes Inc. grew its holdings in Comerica by 4,050.3% during the 4th quarter. Federated Hermes Inc. now owns 13,281 shares of the financial services provider’s stock worth $821,000 after acquiring an additional 12,961 shares in the last quarter. Invesco Ltd. increased its position in Comerica by 7.4% during the 4th quarter. Invesco Ltd. now owns 795,686 shares of the financial services provider’s stock valued at $49,213,000 after purchasing an additional 54,963 shares during the period. Finally, Advisory Services Network LLC increased its position in Comerica by 22.9% during the 4th quarter. Advisory Services Network LLC now owns 5,343 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 995 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.