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

Shares of Comerica Incorporated (NYSE:CMA – Get Rating) have been given an average rating of “Hold” by the twenty-two brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $101.72.

A number of equities analysts have recently issued reports on the company. Compass Point raised Comerica from a “neutral” rating to a “buy” rating and increased their price target for the stock from $105.00 to $115.00 in a research report on Wednesday, February 16th. B. Riley dropped their price target on Comerica from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, April 21st. Robert W. Baird raised Comerica from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $78.00 to $85.00 in a research report on Monday, April 18th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating and set a $104.00 price target on the stock. in a research note on Friday, January 7th. Finally, Raymond James lowered Comerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 21st.

In related news, EVP Christine M. Moore sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $93.90, for a total value of $258,225.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wendy Bridges sold 1,100 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $93.78, for a total value of $103,158.00. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in CMA. Morgan Stanley lifted its holdings in Comerica by 38.3% in the second quarter. Morgan Stanley now owns 856,717 shares of the financial services provider’s stock valued at $61,118,000 after acquiring an additional 237,136 shares during the period. SG Americas Securities LLC lifted its holdings in Comerica by 44.2% in the third quarter. SG Americas Securities LLC now owns 4,232 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 1,298 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Comerica by 12.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,503 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 726 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Comerica by 39.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,704 shares of the financial services provider’s stock valued at $1,908,000 after acquiring an additional 6,714 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Comerica by 3.4% in the third quarter. Treasurer of the State of North Carolina now owns 52,338 shares of the financial services provider’s stock valued at $4,213,000 after acquiring an additional 1,739 shares during the period. 80.14% of the stock is owned by institutional investors.

CMA stock opened at $81.90 on Monday. Comerica has a twelve month low of $63.07 and a twelve month high of $102.09. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $90.01 and its two-hundred day simple moving average is $90.10. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.55 and a beta of 1.35.

Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Comerica had a return on equity of 13.85% and a net margin of 33.48%. During the same period in the prior year, the company posted $2.43 EPS. Research analysts expect that Comerica will post 7.1 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a $0.68 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.72 dividend on an annualized basis and a yield of 3.32%. Comerica’s dividend payout ratio is currently 37.52%.

About Comerica (Get Rating)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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