Comerica Incorporated (NYSE:CMA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Comerica Incorporated (NYSE:CMA) have earned an average rating of “Hold” from the twenty-three research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $56.89.

CMA has been the subject of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of Comerica in a report on Friday, April 19th. Argus cut Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a research note on Thursday, January 4th. DA Davidson reiterated a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Finally, Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd.

Comerica Stock Performance

Comerica stock opened at $52.16 on Friday. The company has a market cap of $6.91 billion, a PE ratio of 10.37 and a beta of 1.27. The company has a fifty day moving average price of $51.51 and a two-hundred day moving average price of $49.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. Comerica has a 12 month low of $28.40 and a 12 month high of $57.39.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the company posted $2.39 earnings per share. Research analysts expect that Comerica will post 5.15 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.44%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Spire Wealth Management increased its position in shares of Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Comerica in the fourth quarter valued at $36,000. Fortitude Family Office LLC bought a new stake in Comerica in the fourth quarter valued at $36,000. FNY Investment Advisers LLC bought a new stake in shares of Comerica during the fourth quarter worth $50,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Comerica during the fourth quarter worth $51,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.