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

by · The Cerbat Gem

Shares of Comerica Incorporated (NYSE:CMA – Get Free Report) have received a consensus recommendation of “Hold” from the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $58.24.

CMA has been the topic of several recent analyst reports. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $75.00 in a report on Tuesday. Stephens reiterated an “overweight” rating and set a $58.00 price objective on shares of Comerica in a report on Tuesday, September 10th. JPMorgan Chase & Co. cut their price objective on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Morgan Stanley lifted their price objective on Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Robert W. Baird cut their price objective on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th.

Get Our Latest Stock Report on CMA

Comerica Price Performance

Comerica stock opened at $59.39 on Monday. The business’s 50-day simple moving average is $55.64 and its 200 day simple moving average is $52.92. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 11.81 and a beta of 1.23. Comerica has a 12-month low of $37.40 and a 12-month high of $61.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA – Get Free Report) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter last year, the business earned $2.01 earnings per share. As a group, research analysts anticipate that Comerica will post 5.06 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Buying and Selling

In related news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Family Firm Inc. acquired a new position in shares of Comerica during the 2nd quarter worth approximately $37,000. UMB Bank n.a. increased its holdings in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Comerica in the 2nd quarter valued at $56,000. 80.74% of the stock is owned by institutional investors and hedge funds.

About Comerica

(Get Free Report

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.

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