Comerica Incorporated (NYSE:CMA) Given Consensus Rating of “Hold” by Brokerages

Comerica Incorporated (NYSE:CMA) has been given a consensus rating of “Hold” by the twenty-two research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $56.98.

CMA has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Bank Of America (Bofa) boosted their price target on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 price target for the company. DA Davidson restated a “neutral” rating and set a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Finally, Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd.

Comerica Stock Performance

NYSE:CMA opened at $51.87 on Friday. The company has a fifty day moving average of $51.58 and a 200-day moving average of $49.92. The firm has a market capitalization of $6.88 billion, a P/E ratio of 10.31 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica has a twelve month low of $28.40 and a twelve month high of $57.39.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the business posted $2.39 EPS. As a group, sell-side analysts anticipate that Comerica will post 5.16 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CMA. Bison Wealth LLC increased its stake in Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 196 shares during the last quarter. Fruth Investment Management increased its position in shares of Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 200 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Comerica by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 219 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Comerica by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 230 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.