Comerica (NYSE:CMA) Sets New 52-Week High – Still a Buy?

Comerica Incorporated (NYSE:CMA) reached a new 52-week high during trading on Monday . The company traded as high as $90.85 and last traded at $91.0630, with a volume of 513590 shares traded. The stock had previously closed at $88.65.

Analyst Upgrades and Downgrades

CMA has been the topic of several analyst reports. Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price target on the stock in a research note on Tuesday, October 7th. Weiss Ratings lowered Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Wells Fargo & Company increased their price target on Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Cantor Fitzgerald initiated coverage on Comerica in a research note on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Royal Bank Of Canada upped their target price on Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.68.

Comerica Stock Performance

The company has a 50-day moving average of $82.41 and a 200-day moving average of $73.27. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 17.37 and a beta of 1.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last released its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The firm had revenue of $824.00 million during the quarter. On average, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Monday, December 15th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, December 15th. Comerica’s payout ratio is presently 54.20%.

Institutional Trading of Comerica

Hedge funds have recently made changes to their positions in the stock. United Community Bank acquired a new position in Comerica during the 3rd quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Comerica during the third quarter valued at $27,000. Center for Financial Planning Inc. grew its position in shares of Comerica by 41.2% during the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 150 shares during the last quarter. Community Bank N.A. acquired a new stake in shares of Comerica in the 3rd quarter worth about $36,000. Finally, Root Financial Partners LLC acquired a new position in Comerica during the 3rd quarter valued at about $40,000. Institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.