Comerica Incorporated (NYSE:CMA) Receives Consensus Recommendation of “Hold” from Analysts

Comerica Incorporated (NYSE:CMAGet Rating) has been assigned an average rating of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $88.95.

Several brokerages have commented on CMA. Royal Bank of Canada lowered their target price on Comerica from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Citigroup lowered their price objective on Comerica from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 6th. Evercore ISI upped their price objective on Comerica to $86.00 in a research note on Friday, July 22nd. Stephens lowered their price objective on Comerica from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Finally, StockNews.com initiated coverage on Comerica in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Comerica Trading Down 2.0 %

CMA stock opened at $70.14 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $72.95 and a two-hundred day moving average price of $76.68. Comerica has a one year low of $64.11 and a one year high of $102.09. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.38 and a beta of 1.20.

Comerica (NYSE:CMAGet Rating) last announced its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period in the previous year, the firm earned $1.90 earnings per share. Equities analysts anticipate that Comerica will post 8.53 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be given a dividend of $0.68 per share. The ex-dividend date is Wednesday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.88%. Comerica’s dividend payout ratio is presently 36.03%.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently made changes to their positions in CMA. Ronald Blue Trust Inc. bought a new stake in Comerica in the second quarter worth $27,000. Quent Capital LLC lifted its holdings in shares of Comerica by 292.3% during the first quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 228 shares in the last quarter. Tcwp LLC bought a new position in shares of Comerica during the first quarter valued at $30,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Comerica during the first quarter valued at $31,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Comerica during the third quarter valued at $271,000. 82.56% of the stock is currently owned by institutional investors.

Comerica Company Profile

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering 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.

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Analyst Recommendations for Comerica (NYSE:CMA)

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