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

Shares of Comerica Incorporated (NYSE:CMA) have earned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $74.2632.

CMA has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Evercore ISI set a $88.00 price target on shares of Comerica and gave the company an “in-line” rating in a research report on Thursday, October 30th. TD Cowen initiated coverage on Comerica in a research note on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada lifted their price objective on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th.

Comerica Trading Down 0.4%

NYSE:CMA opened at $87.74 on Wednesday. Comerica has a 1 year low of $48.12 and a 1 year high of $90.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $79.63 and a two-hundred day moving average price of $70.43. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 16.74 and a beta of 1.07.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The business had revenue of $824.00 million for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. As a group, sell-side analysts anticipate that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s payout ratio is 54.20%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. United Community Bank purchased a new stake in Comerica in the 3rd quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Comerica in the third quarter worth $27,000. Center for Financial Planning Inc. lifted its position in shares of Comerica by 41.2% in the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 150 shares in the last quarter. Community Bank N.A. purchased a new stake in shares of Comerica in the third quarter valued at $36,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Comerica during the third quarter valued at $40,000. 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.