UBS Group Upgrades Comerica (NYSE:CMA) to Neutral

UBS Group upgraded shares of Comerica (NYSE:CMA) from a sell rating to a neutral rating in a report published on Thursday, MarketBeat Ratings reports. UBS Group currently has $59.00 price target on the financial services provider’s stock.

CMA has been the subject of a number of other reports. Royal Bank of Canada reduced their price target 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. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Barclays raised their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Raymond James decreased their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.16.

Comerica Stock Performance

Shares of CMA stock opened at $51.22 on Thursday. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. 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 firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 10.20 and a beta of 0.96. The business has a 50 day simple moving average of $60.69 and a 200 day simple moving average of $63.17.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 business earned $1.46 EPS. On average, equities research analysts anticipate that Comerica will post 5.28 EPS 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 paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.54%. Comerica’s dividend payout ratio is presently 56.57%.

Institutional Investors Weigh In On Comerica

Institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the 4th quarter worth about $31,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. Finally, V Square Quantitative Management LLC grew its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares in 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.