Brokerages Set Comerica Incorporated (NYSE:CMA) Price Target at $68.29

Shares of Comerica Incorporated (NYSE:CMA) have been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are covering the stock, Marketbeat.com reports. Three equities 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 brokers that have issued a report on the stock in the last year is $68.29.

A number of analysts have recently weighed in on CMA shares. Royal Bank of Canada cut their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. UBS Group started coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target for the company. DA Davidson cut their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Dimensional Fund Advisors LP increased its position in shares of Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock worth $311,464,000 after buying an additional 114,072 shares during the period. State Street Corp increased its position in shares of Comerica by 2.0% during the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after buying an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after buying an additional 125,514 shares during the period. North Reef Capital Management LP increased its position in shares of Comerica by 15.7% during the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after buying an additional 550,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Comerica by 3.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after buying an additional 72,391 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Performance

NYSE CMA opened at $58.99 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $7.74 billion, a P/E ratio of 11.75 and a beta of 1.23. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a 50-day moving average price of $63.47 and a two-hundred day moving average price of $63.49.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 quarter in the prior year, the company posted $1.46 earnings per share. Analysts anticipate that Comerica will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

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.