Comerica (NYSE:CMA) Price Target Increased to $52.00 by Analysts at Piper Sandler

Comerica (NYSE:CMA) had its price objective increased by Piper Sandler from $51.00 to $52.00 in a research note published on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on CMA. The Goldman Sachs Group lowered their target price on Comerica from $69.00 to $62.00 and set a buy rating for the company in a report on Tuesday, June 4th. Stephens reiterated an overweight rating and set a $64.00 target price on shares of Comerica in a report on Tuesday, June 11th. Jefferies Financial Group lowered their target price on Comerica from $65.00 to $60.00 and set a buy rating for the company in a report on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on Comerica from $62.00 to $57.00 and set a neutral rating for the company in a report on Thursday, June 27th. Finally, Truist Financial cut Comerica from a buy rating to a hold rating and decreased their price objective for the company from $55.00 to $53.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $54.95.

Comerica Stock Performance

Shares of Comerica stock opened at $51.28 on Monday. The company has a market capitalization of $6.80 billion, a PE ratio of 10.19 and a beta of 1.25. Comerica has a 12 month low of $37.40 and a 12 month high of $58.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $50.66 and its 200 day simple moving average is $51.66.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the business posted $2.01 EPS. On average, research analysts predict that Comerica will post 4.98 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 5.54%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Comerica by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after acquiring an additional 676,959 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Comerica by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after acquiring an additional 48,526 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comerica by 60.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after acquiring an additional 984,391 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Comerica by 129.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.