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

Key Points

• Comerica Incorporated (NYSE:CMA) has received an average recommendation of "Hold" from 21 analysts, with five analysts rating it as a sell, eleven as a hold, and five as a buy.
• The firm reported earnings of $1.42 per share for the most recent quarter, surpassing analysts' expectations of $1.23, with a revenue of $849 million.
• Comerica recently declared a quarterly dividend of $0.71 per share, representing a yield of 4.1% and a dividend payout ratio of 54.41%.

Shares of Comerica Incorporated (NYSE:CMA - Get Free Report) have been given an average recommendation of "Hold" by the twenty-one analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $64.65.

CMA has been the topic of several research reports. Raymond James Financial reissued a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Stephens reissued an "equal weight" rating on shares of Comerica in a report on Monday, July 21st. Citigroup lifted their price objective on shares of Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Truist Financial lifted their price objective on shares of Comerica from $61.00 to $68.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Finally, DA Davidson set a $60.00 price objective on shares of Comerica and gave the company a "neutral" rating in a report on Monday, July 21st.

Comerica Stock Performance

Shares of NYSE:CMA opened at $68.86 on Monday. The firm has a market cap of $8.85 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 12.42 and a beta of 0.97. The firm's 50 day simple moving average is $66.55 and its 200-day simple moving average is $60.28. Comerica has a one year low of $48.12 and a one year high of $73.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million for the quarter, compared to analyst estimates of $844.39 million. Comerica had a net margin of 14.92% and a return on equity of 10.92%. During the same period last year, the company posted $1.49 earnings per share. As a group, equities analysts predict that Comerica will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Comerica's dividend payout ratio (DPR) is presently 54.41%.

Insider Activity at Comerica

In related news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company's stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently bought and sold shares of CMA. Norges Bank purchased a new position in Comerica in the second quarter worth $97,138,000. Primecap Management Co. CA grew its holdings in Comerica by 228.8% in the first quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider's stock worth $98,637,000 after purchasing an additional 1,162,110 shares during the last quarter. Azora Capital LP grew its holdings in Comerica by 53.7% in the first quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider's stock worth $112,167,000 after purchasing an additional 663,513 shares during the last quarter. Kodai Capital Management LP purchased a new position in Comerica in the first quarter worth $32,864,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Comerica in the second quarter worth $31,365,000. 80.74% of the stock is owned by hedge funds and other 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.

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