Comerica (NYSE:CMA) PT Lowered to $55.00

Comerica (NYSE:CMA) had its price objective lowered by UBS Group from $59.00 to $55.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. The Goldman Sachs Group raised Comerica from a neutral rating to a buy rating and set a $70.50 price objective on the stock in a report on Thursday, January 4th. Evercore ISI raised their price target on Comerica from $55.00 to $58.00 and gave the company an in-line rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft began coverage on Comerica in a report on Wednesday, April 10th. They issued a hold rating and a $59.00 price target on the stock. Finally, DA Davidson reaffirmed a neutral rating and issued a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. 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 company. According to MarketBeat.com, Comerica has an average rating of Hold and an average price target of $56.89.

Comerica Stock Performance

Shares of CMA opened at $52.59 on Friday. The stock’s 50-day simple moving average is $51.38 and its 200 day simple moving average is $49.45. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 10.46 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. Comerica has a 52-week low of $28.40 and a 52-week high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations 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 firm posted $2.39 EPS. Research analysts forecast that Comerica will post 5.09 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.40%. Comerica’s payout ratio is 56.46%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oakworth Capital Inc. lifted its holdings in Comerica by 3.2% in the 1st quarter. Oakworth Capital Inc. now owns 238,228 shares of the financial services provider’s stock worth $13,100,000 after buying an additional 7,365 shares during the period. Lloyd Advisory Services LLC. lifted its stake in shares of Comerica by 293.0% in the 1st quarter. Lloyd Advisory Services LLC. now owns 30,795 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 22,960 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Comerica in the 1st quarter valued at approximately $497,000. Wedmont Private Capital lifted its stake in shares of Comerica by 11.5% in the 1st quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 730 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Comerica by 7.6% in the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.