Comerica (NYSE:CMA) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Comerica (NYSE:CMA) in a report released on Tuesday morning, Marketbeat reports. The firm issued a neutral rating and a $72.00 price objective on the financial services provider’s stock.

CMA has been the topic of several other reports. Jefferies Financial Group boosted their price objective on shares of Comerica from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Stephens restated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. JPMorgan Chase & Co. upped their target price on shares of Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. UBS Group set a $64.00 target price on shares of Comerica and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Piper Sandler upped their target price on shares of Comerica from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.00.

Comerica Price Performance

Comerica stock opened at $69.43 on Tuesday. Comerica has a 52 week low of $48.12 and a 52 week high of $73.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The firm’s 50-day simple moving average is $67.14 and its 200 day simple moving average is $60.46. The firm has a market capitalization of $8.92 billion, a PE ratio of 13.30, a P/E/G ratio of 12.46 and a beta of 0.97.

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

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Comerica’s dividend payout ratio is 54.41%.

Insider Buying and Selling

In related news, EVP Allysun C. Fleming sold 2,100 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares of the company’s stock, valued at approximately $631,690.72. This represents a 18.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the 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. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Comerica

Several large investors have recently bought and sold shares of CMA. Captrust Financial Advisors grew its position in Comerica by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 14,971 shares of the financial services provider’s stock valued at $926,000 after acquiring an additional 886 shares in the last quarter. Focus Partners Wealth acquired a new stake in Comerica in the fourth quarter valued at approximately $426,000. Jefferies Financial Group Inc. grew its position in Comerica by 27.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 13,000 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 2,782 shares in the last quarter. NorthRock Partners LLC acquired a new stake in Comerica in the fourth quarter valued at approximately $408,000. Finally, Nomura Holdings Inc. acquired a new stake in Comerica in the fourth quarter valued at approximately $1,079,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.