Comerica Incorporated (NYSE:CMA) Receives $63.22 Consensus Target Price from Analysts

Shares of Comerica Incorporated (NYSE:CMA - Get Free Report) have received a consensus recommendation of "Hold" from the nineteen brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $63.22.

A number of equities analysts recently issued reports on CMA shares. Keefe, Bruyette & Woods lowered their price target on Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada lowered their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Truist Financial lowered their price target on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target for the company in a report on Thursday, April 10th.

Comerica Stock Down 0.1%

Shares of CMA stock traded down $0.06 during trading hours on Tuesday, reaching $55.98. 652,161 shares of the stock were exchanged, compared to its average volume of 2,208,004. The business's fifty day moving average is $55.51 and its two-hundred day moving average is $62.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market capitalization of $7.36 billion, a P/E ratio of 11.15 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 for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, research analysts expect that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio (DPR) is presently 53.69%.

Institutional Investors Weigh In On Comerica

Several large investors have recently modified their holdings of the stock. Trust Co. of Vermont raised its position in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new position in Comerica in the fourth quarter worth $31,000. MorganRosel Wealth Management LLC purchased a new position in Comerica in the first quarter worth $33,000. MCF Advisors LLC raised its position in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Comerica in the third quarter worth $42,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

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.