Comerica Incorporated (NYSE:CMA) Given Average Rating of "Hold" by Analysts

Comerica Incorporated (NYSE:CMA - Get Free Report) has earned an average recommendation of "Hold" from the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $67.68.

A number of equities analysts have issued reports on CMA shares. Robert W. Baird raised their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, November 18th. Bank of America lowered Comerica from a "neutral" rating to an "underperform" rating and cut their target price for the company from $55.00 to $52.00 in a research note on Monday, October 7th. Piper Sandler boosted their target price on Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. StockNews.com raised Comerica from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Comerica from $72.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

Comerica Price Performance

CMA stock traded up $0.41 during midday trading on Wednesday, reaching $61.85. 906,295 shares of the company's stock traded hands, compared to its average volume of 2,186,204. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 15.46 and a beta of 1.23. The company has a 50-day simple moving average of $66.55 and a two-hundred day simple moving average of $59.24. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same quarter in the prior year, the company earned $1.84 EPS. On average, analysts anticipate that Comerica will post 5.37 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, December 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.59%. Comerica's payout ratio is 71.00%.

Comerica declared that its board has approved a stock buyback plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Comerica

In other news, EVP James Harry Weber sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the sale, the executive vice president now owns 15,773 shares of the company's stock, valued at approximately $997,326.79. This represents a 29.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Allysun C. Fleming sold 1,392 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company's stock, valued at $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,456 shares of company stock worth $977,287. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMA. Crossmark Global Holdings Inc. boosted its stake in shares of Comerica by 12.4% during the second quarter. Crossmark Global Holdings Inc. now owns 6,220 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 687 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Comerica during the 2nd quarter valued at about $56,000. Van ECK Associates Corp acquired a new stake in Comerica during the second quarter worth approximately $2,431,000. Natixis Advisors LLC increased its holdings in Comerica by 1.8% in the second quarter. Natixis Advisors LLC now owns 326,380 shares of the financial services provider's stock worth $16,659,000 after purchasing an additional 5,649 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Comerica by 33.0% in the second quarter. Rhumbline Advisers now owns 369,415 shares of the financial services provider's stock valued at $18,855,000 after buying an additional 91,626 shares during the period. Institutional investors and hedge funds 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.