Analysts Set Comerica Incorporated (NYSE:CMA) Target Price at $56.32

Comerica Incorporated (NYSE:CMA) has received an average rating of “Hold” from the twenty-one analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $58.24.

Several equities research analysts have recently commented on CMA shares. Truist Financial boosted their target price on shares of Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Tuesday, July 2nd. Robert W. Baird cut their target price on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. DA Davidson reiterated a “neutral” rating and set a $55.00 price target on shares of Comerica in a report on Tuesday, September 10th. Finally, Barclays dropped their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd.

Comerica Stock Down 0.2 %

Shares of NYSE:CMA opened at $59.38 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a 52-week low of $37.40 and a 52-week high of $61.84. The business’s 50 day simple moving average is $55.64 and its two-hundred day simple moving average is $52.93. The firm has a market cap of $7.87 billion, a P/E ratio of 11.81 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same quarter last year, the firm posted $2.01 EPS. As a group, research analysts forecast that Comerica will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.78%. Comerica’s payout ratio is presently 56.46%.

Insider Transactions at Comerica

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

Hedge Funds Weigh In On Comerica

Several large investors have recently modified their holdings of CMA. Family Firm Inc. bought a new position in Comerica in the 2nd quarter worth approximately $37,000. UMB Bank n.a. boosted its holdings in shares of Comerica by 39.3% in the second 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 period. Versant Capital Management Inc grew its position in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Comerica by 50.2% in the first 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 in the last quarter. Finally, Summit Securities Group LLC raised its stake in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors 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.