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

Shares of Comerica Incorporated (NYSE:CMA) have received a consensus rating of “Hold” from the twenty-three research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $56.98.

CMA has been the subject of a number of research reports. Jefferies Financial Group dropped their price target on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 8th. The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Argus lowered Comerica from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada increased their price target on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective on the stock.

Insiders Place Their Bets

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Institutional Trading of Comerica

Several hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its stake in Comerica by 18.1% in the fourth quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock valued at $11,348,000 after buying an additional 31,125 shares in the last quarter. Avaii Wealth Management LLC acquired a new stake in Comerica in the fourth quarter valued at $679,000. NewEdge Wealth LLC acquired a new stake in Comerica in the fourth quarter valued at $10,068,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Comerica by 73.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider’s stock valued at $3,168,000 after buying an additional 23,947 shares in the last quarter. Finally, LSV Asset Management raised its stake in Comerica by 3.5% in the third quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock valued at $28,211,000 after buying an additional 22,800 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Down 2.4 %

Comerica stock opened at $50.17 on Friday. The stock has a market cap of $6.65 billion, a PE ratio of 9.97 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. Comerica has a one year low of $28.40 and a one year high of $57.39. The stock has a fifty day moving average of $51.56 and a 200 day moving average of $49.84.

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

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.66%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

About Comerica

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.