Comerica Incorporated (NYSE:CMA) Receives $68.33 Consensus PT from Analysts

Shares of Comerica Incorporated (NYSE:CMA) have earned a consensus recommendation of “Hold” from the twenty-one research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $68.33.

CMA has been the topic of a number of recent analyst reports. Piper Sandler raised their price objective on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point raised their target price on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Stephens raised their target price on Comerica from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $55.00 to $52.00 in a report on Monday, October 7th. Finally, Barclays raised their target price on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th.

Insider Transactions at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total transaction of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Comerica

Institutional investors and hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont raised its position in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter worth $31,000. V Square Quantitative Management LLC acquired a new stake in shares of Comerica during the third quarter worth $36,000. MCF Advisors LLC grew its stake in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth $42,000. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 1.1 %

Shares of CMA stock opened at $63.48 on Friday. The stock’s 50 day simple moving average is $65.37 and its 200 day simple moving average is $61.11. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 12.64 and a beta of 1.26.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company earned $1.46 earnings per share. As a group, research analysts predict that Comerica will post 5.36 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is 56.57%.

Comerica declared that its Board of Directors has initiated a stock buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.