Comerica (NYSE:CMA) Earns “Overweight” Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Comerica (NYSE:CMA) in a report published on Friday, Benzinga reports. The firm currently has a $64.00 price target on the financial services provider’s stock.

Several other analysts also recently weighed in on CMA. TheStreet upgraded Comerica from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Truist Financial increased their target price on Comerica from $60.00 to $62.00 and gave the company a buy rating in a research note on Monday, April 1st. UBS Group reiterated a neutral rating and set a $59.00 target price (down from $66.00) on shares of Comerica in a research note on Thursday, April 4th. Raymond James downgraded Comerica from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Comerica in a research note on Wednesday, April 10th. They set a hold rating and a $59.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Comerica has a consensus rating of Hold and an average target price of $57.02.

Comerica Stock Performance

Comerica stock opened at $51.56 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $6.83 billion, a P/E ratio of 10.25 and a beta of 1.27. The stock’s 50 day moving average is $51.38 and its 200 day moving average is $49.36. Comerica has a twelve month low of $28.40 and a twelve month high of $57.39.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same quarter in the prior year, the business posted $2.39 EPS. On average, equities research analysts predict that Comerica will post 5.09 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.71 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. Comerica’s dividend payout ratio is currently 56.46%.

Insider Buying and Selling

In related news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Comerica

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lloyd Advisory Services LLC. raised its holdings in Comerica by 293.0% during the first quarter. Lloyd Advisory Services LLC. now owns 30,795 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 22,960 shares during the period. Contravisory Investment Management Inc. bought a new stake in Comerica during the first quarter valued at about $497,000. Wedmont Private Capital raised its holdings in Comerica by 11.5% during the first quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 730 shares during the period. GAMMA Investing LLC raised its holdings in Comerica by 7.6% during the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 230 shares during the period. Finally, CWM LLC raised its holdings in Comerica by 4.0% during the first quarter. CWM LLC now owns 17,044 shares of the financial services provider’s stock valued at $937,000 after acquiring an additional 653 shares during the period. 80.74% of the stock is owned by institutional investors.

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.