Comerica Incorporated (NYSE:CMA) Receives Consensus Rating of “Hold” from Brokerages

Comerica Incorporated (NYSE:CMAGet Rating) has received an average recommendation of “Hold” from the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $100.47.

Several equities analysts recently issued reports on the company. Robert W. Baird upgraded Comerica from a “neutral” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Friday, May 20th. B. Riley reduced their price target on Comerica from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, April 21st. The Goldman Sachs Group raised Comerica from a “sell” rating to a “neutral” rating and upped their price target for the stock from $102.00 to $112.00 in a research report on Friday, April 1st. Royal Bank of Canada reduced their price target on Comerica from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Finally, Wolfe Research reduced their price target on Comerica from $124.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday.

Shares of CMA stock opened at $81.64 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $10.68 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. The stock has a 50-day moving average of $85.06 and a 200-day moving average of $88.97. Comerica has a one year low of $63.07 and a one year high of $102.09.

Comerica (NYSE:CMAGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). Comerica had a net margin of 33.48% and a return on equity of 13.85%. The business had revenue of $700.00 million during the quarter, compared to analyst estimates of $725.36 million. During the same quarter in the prior year, the firm posted $2.43 earnings per share. As a group, research analysts anticipate that Comerica will post 7.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Tuesday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 37.52%.

In other Comerica news, EVP Wendy Bridges sold 1,100 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $93.78, for a total transaction of $103,158.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CMA. Morgan Stanley increased its position in Comerica by 38.3% during the 2nd quarter. Morgan Stanley now owns 856,717 shares of the financial services provider’s stock worth $61,118,000 after buying an additional 237,136 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Comerica by 3.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 22,593 shares of the financial services provider’s stock worth $1,819,000 after purchasing an additional 710 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of Comerica during the 3rd quarter worth $406,000. Kings Point Capital Management acquired a new stake in shares of Comerica during the 3rd quarter worth $32,000. Finally, Credit Suisse AG grew its holdings in shares of Comerica by 2.8% during the 3rd quarter. Credit Suisse AG now owns 195,097 shares of the financial services provider’s stock worth $15,706,000 after purchasing an additional 5,366 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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