DA Davidson Has Lowered Expectations for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA) had its price objective decreased by DA Davidson from $71.00 to $67.00 in a research note issued to investors on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Barclays increased their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Compass Point boosted their price target on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley raised their price objective on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $68.33.

Comerica Stock Down 0.3 %

Comerica stock opened at $62.48 on Thursday. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 15.62 and a beta of 1.26. The firm has a fifty day moving average price of $65.68 and a two-hundred day moving average price of $60.79. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same period in the prior year, the company posted $1.46 EPS. As a group, analysts forecast that Comerica will post 5.38 earnings per share for the current year.

Comerica announced that its board has authorized a share buyback plan on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Friday, December 13th. Comerica’s dividend payout ratio (DPR) is currently 71.00%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter worth $31,000. V Square Quantitative Management LLC acquired a new position in shares of Comerica during the third quarter valued at $36,000. MCF Advisors LLC boosted its holdings in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the third quarter worth about $42,000. 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.