Comerica Incorporated (NYSE:CMA) Receives $68.29 Consensus Target Price from Analysts

Shares of Comerica Incorporated (NYSE:CMA) have earned an average rating of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $68.29.

CMA has been the topic of a number of research analyst reports. Argus raised Comerica to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley lowered their price target on Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. DA Davidson lowered their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Compass Point lifted their price objective on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On Comerica

Several large investors have recently added to or reduced their stakes in CMA. Wedmont Private Capital raised its stake in shares of Comerica by 2.4% in the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares in the last quarter. Blue Trust Inc. increased its holdings in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares during the period. Bessemer Group Inc. raised its position in Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 211 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after buying an additional 227 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Down 0.1 %

Shares of CMA opened at $58.99 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45. The stock’s 50 day moving average is $63.47 and its two-hundred day moving average is $63.37. The firm has a market cap of $7.75 billion, a P/E ratio of 11.75 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the business earned $1.46 earnings per share. Analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.81%. Comerica’s dividend payout ratio is presently 56.57%.

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.