Comerica (NYSE:CMA) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Comerica (NYSE:CMA) in a research note published on Wednesday, Marketbeat.com reports. The firm issued a neutral rating and a $72.00 price target on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Comerica from $69.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Truist Financial lifted their target price on shares of Comerica from $61.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, July 24th. UBS Group set a $64.00 price objective on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. DA Davidson set a $60.00 price objective on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Stephens reaffirmed an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. Five investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $65.00.

Comerica Stock Performance

NYSE CMA opened at $69.21 on Wednesday. Comerica has a 52-week low of $48.12 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $8.89 billion, a P/E ratio of 13.26, a P/E/G ratio of 12.46 and a beta of 0.97. The company has a fifty day moving average of $67.03 and a 200-day moving average of $60.43.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The company had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. During the same period in the previous year, the firm posted $1.49 EPS. As a group, equities research analysts predict that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Comerica’s dividend payout ratio (DPR) is currently 54.41%.

Insider Activity

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the sale, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the sale, the executive vice president directly owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in shares of Comerica by 4.3% in the 2nd quarter. Osaic Holdings Inc. now owns 17,251 shares of the financial services provider’s stock worth $1,031,000 after acquiring an additional 718 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Comerica in the 2nd quarter worth about $104,000. Orion Porfolio Solutions LLC bought a new position in shares of Comerica in the 2nd quarter worth about $228,000. Rexford Capital Inc. bought a new position in shares of Comerica in the 2nd quarter worth about $324,000. Finally, FORA Capital LLC bought a new position in shares of Comerica in the 2nd quarter worth about $422,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Company Profile

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.