Comerica Incorporated (NYSE:CMA) Receives $62.35 Average Price Target from Brokerages

Shares of Comerica Incorporated (NYSE:CMA - Get Free Report) have been given a consensus rating of "Reduce" by the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $62.90.

CMA has been the topic of several research reports. Wells Fargo & Company cut their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Stephens reaffirmed an "equal weight" rating on shares of Comerica in a research note on Monday. DA Davidson set a $60.00 target price on Comerica and gave the company a "neutral" rating in a research note on Monday. UBS Group set a $64.00 target price on Comerica and gave the company a "neutral" rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st.

Comerica Price Performance

Comerica stock traded up $1.11 on Friday, reaching $66.39. The company's stock had a trading volume of 1,046,280 shares, compared to its average volume of 1,945,455. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $8.72 billion, a price-to-earnings ratio of 12.72 and a beta of 0.92. The business's fifty day moving average price is $59.22 and its 200 day moving average price is $59.60. Comerica has a twelve month low of $48.12 and a twelve month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $849.00 million for the quarter, compared to analyst estimates of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same quarter in the previous year, the firm earned $1.49 earnings per share. Equities analysts expect that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is currently 54.41%.

Institutional Trading of Comerica

Several hedge funds and other institutional investors have recently made changes to their positions in CMA. Dimensional Fund Advisors LP raised its holdings in Comerica by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider's stock valued at $325,308,000 after acquiring an additional 472,409 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Comerica by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider's stock valued at $275,423,000 after purchasing an additional 231,885 shares in the last quarter. North Reef Capital Management LP grew its position in shares of Comerica by 15.7% during the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Comerica by 9.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider's stock worth $137,107,000 after acquiring an additional 203,333 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Comerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after acquiring an additional 103,118 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

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.