Comerica Incorporated (NYSE:CMA) Given Consensus Recommendation of "Hold" by Brokerages

Comerica Incorporated (NYSE:CMA - Get Free Report) has been given an average recommendation of "Hold" by the twenty-two brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $59.62.

A number of research firms have issued reports on CMA. Morgan Stanley boosted their price target on Comerica from $61.00 to $63.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods upgraded Comerica from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. Truist Financial boosted their price target on Comerica from $53.00 to $66.00 and gave the company a "hold" rating in a research note on Friday, September 20th. The Goldman Sachs Group boosted their price target on Comerica from $55.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Finally, DA Davidson restated a "neutral" rating and set a $55.00 price target on shares of Comerica in a research note on Tuesday, September 10th.

Comerica Stock Performance

NYSE CMA traded up $2.33 during trading hours on Friday, hitting $64.97. The company's stock had a trading volume of 3,951,039 shares, compared to its average volume of 2,159,274. Comerica has a 12 month low of $37.40 and a 12 month high of $66.06. The company's 50 day simple moving average is $57.96 and its two-hundred day simple moving average is $53.77. The company has a market cap of $8.61 billion, a P/E ratio of 12.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company earned $2.01 EPS. As a group, sell-side analysts expect that Comerica will post 5.12 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.37%. Comerica's dividend payout ratio (DPR) is 56.46%.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares of the company's stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Comerica

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Comerica by 34.2% during the 3rd quarter. Blue Trust Inc. now owns 3,840 shares of the financial services provider's stock valued at $230,000 after purchasing an additional 978 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Comerica in the 3rd quarter valued at $36,000. Bleakley Financial Group LLC grew its position in Comerica by 8.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 351 shares during the last quarter. CX Institutional bought a new position in Comerica in the 3rd quarter valued at $213,000. Finally, Fiduciary Alliance LLC bought a new position in Comerica in the 3rd quarter valued at $506,000. Institutional investors 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.