Comerica Incorporated (NYSE:CMA) Receives $68.29 Average Price Target from Brokerages

Comerica Incorporated (NYSE:CMA - Get Free Report) has earned an average recommendation of "Hold" from the twenty-two research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities 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 12-month price target among brokerages that have covered the stock in the last year is $68.29.

Several brokerages have recently commented on CMA. Piper Sandler upped their price objective on shares of Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lowered their price objective on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Compass Point upped their price objective on shares of Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, UBS Group began coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 price target on the stock.

Comerica Trading Up 0.3 %

Comerica stock traded up $0.20 during mid-day trading on Monday, hitting $59.29. The company's stock had a trading volume of 675,563 shares, compared to its average volume of 2,035,825. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 11.79 and a beta of 1.23. The business has a 50 day moving average price of $63.56 and a 200-day moving average price of $63.39. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45.

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Comerica (NYSE:CMA - Get Free Report) 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 quarter in the prior year, the company earned $1.46 EPS. As a group, analysts forecast that Comerica will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Friday, March 14th. Comerica's dividend payout ratio (DPR) is currently 56.57%.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently made changes to their positions in CMA. PL Capital Advisors LLC increased its position in shares of Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after acquiring an additional 1,749,438 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Comerica during the fourth quarter valued at approximately $82,419,000. Norges Bank bought a new stake in shares of Comerica during the fourth quarter valued at approximately $64,150,000. Citigroup Inc. increased its position in shares of Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after acquiring an additional 606,375 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock valued at $144,312,000 after acquiring an additional 574,516 shares in the last quarter. 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.