Comerica (NYSE:CMA) Reaches New 52-Week High – Here’s Why

Comerica Incorporated (NYSE:CMA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $93.93 and last traded at $93.5310, with a volume of 1382730 shares. The stock had previously closed at $91.60.

Wall Street Analysts Forecast Growth

CMA has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on Comerica from $75.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. TD Cowen raised their price target on Comerica from $89.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, January 7th. Weiss Ratings cut shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Evercore ISI set a $89.00 price objective on Comerica in a research report on Tuesday, January 6th. Finally, Cowen reiterated a “hold” rating on shares of Comerica in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and an average price target of $79.56.

Comerica Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $85.39 and a two-hundred day moving average price of $75.76. The firm has a market cap of $11.95 billion, a P/E ratio of 17.84 and a beta of 1.03.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, January 23rd. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.20. Comerica had a net margin of 14.91% and a return on equity of 10.69%. During the same quarter in the previous year, the company posted $1.20 earnings per share. Equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Monday, December 15th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 3.0%. Comerica’s dividend payout ratio (DPR) is currently 54.20%.

Institutional Trading of Comerica

Institutional investors have recently modified their holdings of the stock. United Community Bank purchased a new position in shares of Comerica in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in Comerica during the third quarter valued at approximately $27,000. FNY Investment Advisers LLC bought a new stake in Comerica during the second quarter valued at $35,000. Center for Financial Planning Inc. increased its position in shares of Comerica by 41.2% in the third quarter. Center for Financial Planning Inc. now owns 514 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 150 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after buying an additional 176 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

About Comerica

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.