Comerica Incorporated (NYSE:CMA) Receives $68.16 Consensus PT from Analysts

Comerica Incorporated (NYSE:CMA - Get Free Report) has received an average recommendation of "Hold" from the twenty brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $68.16.

CMA has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target for the company in a research note on Thursday, April 10th. DA Davidson decreased their target price on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Finally, Raymond James reduced their price target on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd.

Comerica Trading Down 0.4 %

NYSE:CMA traded down $0.23 during mid-day trading on Friday, hitting $52.76. The company had a trading volume of 102,004 shares, compared to its average volume of 2,146,427. The business's fifty day moving average is $59.73 and its two-hundred day moving average is $63.02. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm has a market cap of $6.92 billion, a P/E ratio of 10.51 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

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Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 last year, the firm earned $1.46 earnings per share. As a group, research analysts expect that Comerica will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.38%. Comerica's dividend payout ratio is presently 56.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMA. Greenwood Capital Associates LLC increased its holdings in Comerica by 23.6% in the 1st quarter. Greenwood Capital Associates LLC now owns 17,025 shares of the financial services provider's stock valued at $1,005,000 after buying an additional 3,246 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Comerica during the 1st quarter worth approximately $9,779,000. Tounjian Advisory Partners LLC bought a new position in Comerica in the first quarter valued at approximately $595,000. Farther Finance Advisors LLC raised its position in Comerica by 24.0% during the first quarter. Farther Finance Advisors LLC now owns 4,798 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 929 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Comerica by 19.4% during the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock worth $105,000 after purchasing an additional 289 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

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.