Comerica Incorporated (NYSE:CMA) Given Average Rating of "Hold" by Brokerages

Shares of Comerica Incorporated (NYSE:CMA - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $61.95.

Several equities analysts have issued reports on CMA shares. Keefe, Bruyette & Woods dropped their target price on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley cut Comerica from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Stephens cut Comerica from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Piper Sandler boosted their target price on Comerica from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. cut Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd.

Institutional Investors Weigh In On Comerica

A number of large investors have recently bought and sold shares of CMA. Independent Advisor Alliance purchased a new position in shares of Comerica during the 4th quarter worth $206,000. Bank of Nova Scotia purchased a new position in shares of Comerica during the 4th quarter worth $1,320,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica during the 4th quarter worth $82,419,000. Franklin Resources Inc. lifted its stake in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock worth $3,190,000 after purchasing an additional 36,883 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock worth $666,000 after purchasing an additional 7,408 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Up 1.5%

CMA opened at $58.20 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $56.04 and a two-hundred day moving average price of $59.75. Comerica has a 52 week low of $47.33 and a 52 week high of $73.45. The company has a market cap of $7.65 billion, a PE ratio of 11.00 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The company had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, research analysts anticipate that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is presently 53.69%.

About Comerica

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.

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