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

Key Points

• Comerica Incorporated has received a consensus rating of "Hold" from 21 ratings firms, with the average 1-year price target set at $64.40.
• Insiders have recently sold shares, including James Mcgregor Carr, who sold 4,000 shares for a total of $269,120, representing a 10.67% ownership decrease.
• Comerica announced a quarterly dividend of $0.71 per share, with a payout ratio of 54.41%, and a yield of 4.1% to be paid out on October 1st.

Comerica Incorporated (NYSE:CMA - Get Free Report) has received a consensus rating of "Hold" from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $64.40.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Comerica from an "underperform" rating to a "hold" rating and increased their price target for the stock from $50.00 to $70.00 in a research report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Comerica from $69.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company cut their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd.

Insider Activity at Comerica

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider owned 33,471 shares in the company, valued at $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allysun C. Fleming sold 2,100 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares in the company, valued at approximately $631,690.72. The trade was a 18.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Comerica

Several hedge funds and other institutional investors have recently modified their holdings of CMA. Salzhauer Michael grew its stake in shares of Comerica by 39.2% in the fourth quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider's stock worth $10,265,000 after acquiring an additional 46,700 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Comerica by 31.9% during the fourth quarter. Wells Fargo & Company MN now owns 109,322 shares of the financial services provider's stock worth $6,762,000 after buying an additional 26,415 shares in the last quarter. Federated Hermes Inc. boosted its stake in Comerica by 4,050.3% during the fourth quarter. Federated Hermes Inc. now owns 13,281 shares of the financial services provider's stock worth $821,000 after buying an additional 12,961 shares in the last quarter. Invesco Ltd. boosted its stake in Comerica by 7.4% during the fourth quarter. Invesco Ltd. now owns 795,686 shares of the financial services provider's stock worth $49,213,000 after buying an additional 54,963 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Comerica by 22.9% during the fourth quarter. Advisory Services Network LLC now owns 5,343 shares of the financial services provider's stock worth $330,000 after buying an additional 995 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Price Performance

NYSE CMA opened at $68.94 on Thursday. The company has a 50 day simple moving average of $62.49 and a 200-day simple moving average of $60.08. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 12.28 and a beta of 0.94. Comerica has a 52-week low of $48.12 and a 52-week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million during 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 in the prior year, the firm earned $1.49 earnings per share. Equities research analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 is Monday, September 15th. Comerica's dividend payout ratio (DPR) is 54.41%.

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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