Comerica (NYSE:CMA) Price Target Lowered to $78.00 at Truist Financial

Comerica (NYSE:CMA – Get Rating) had its price target lowered by Truist Financial from $83.00 to $78.00 in a report issued on Monday morning, The Fly reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research firms have also recently commented on CMA. Raymond James decreased their target price on Comerica from $85.00 to $84.00 and set an outperform rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their price target on Comerica from $80.00 to $72.00 and set an overweight rating on the stock in a report on Tuesday, December 13th. StockNews.com began coverage on Comerica in a report on Wednesday, October 12th. They issued a hold rating on the stock. Odeon Capital Group upgraded Comerica from a hold rating to a buy rating and set a $76.36 price target on the stock in a report on Tuesday, January 10th. Finally, The Goldman Sachs Group cut their price target on Comerica from $94.00 to $84.00 and set a neutral rating on the stock in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Comerica has an average rating of Moderate Buy and an average target price of $83.02.

Comerica Trading Up 4.1 %

NYSE CMA opened at $71.96 on Monday. The business has a 50 day simple moving average of $67.90 and a 200 day simple moving average of $73.35. Comerica has a one year low of $62.83 and a one year high of $102.09. The stock has a market capitalization of $9.42 billion, a P/E ratio of 8.50, a P/E/G ratio of 2.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.85.

Comerica (NYSE:CMA – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.56 by $0.02. Comerica had a return on equity of 20.75% and a net margin of 30.72%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $1.66 earnings per share. Research analysts expect that Comerica will post 9.66 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, December 14th. Comerica’s dividend payout ratio is currently 32.11%.

Hedge Funds Weigh In On Comerica

Hedge funds have recently made changes to their positions in the stock. Ronald Blue Trust Inc. bought a new stake in Comerica during the second quarter valued at $27,000. Oakworth Capital Inc. bought a new stake in Comerica during the second quarter valued at $34,000. Evoke Wealth LLC boosted its stake in Comerica by 38.0% during the second quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock valued at $36,000 after buying an additional 136 shares during the period. Almanack Investment Partners LLC. bought a new stake in Comerica during the third quarter valued at $38,000. Finally, Chilton Capital Management LLC bought a new stake in Comerica during the second quarter valued at $47,000. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

About Comerica

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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.