Comerica Incorporated (NYSE:CMA) Receives Consensus Recommendation of "Reduce" from Brokerages

Key Points

• Comerica Incorporated (NYSE:CMA) has received a consensus rating of "Reduce" from 23 brokerages, with five analysts recommending a sell and four issuing buy recommendations.
• The company's average 12-month price objective is estimated at $67.05, with recent target adjustments made by firms like Morgan Stanley and Citigroup.
• Comerica recently announced a quarterly dividend of $0.71 per share, resulting in an annualized dividend yield of 4.0% and a payout ratio of 54.41%.

Comerica Incorporated (NYSE:CMA - Get Free Report) has been given a consensus rating of "Reduce" by the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $67.0476.

Several research firms recently commented on CMA. UBS Group set a $64.00 price objective on Comerica and gave the stock a "neutral" rating in a report on Monday, July 21st. Morgan Stanley lifted their price objective on Comerica from $61.00 to $76.00 and gave the stock an "underweight" rating in a report on Monday. Stephens restated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Citigroup boosted their price target on Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler boosted their price target on Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st.

Insider Transactions at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was 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. The trade was a 18.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value 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. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MorganRosel Wealth Management LLC purchased a new position in Comerica in the 1st quarter worth approximately $33,000. Gen Wealth Partners Inc purchased a new position in Comerica in the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. lifted its holdings in Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after purchasing an additional 176 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Comerica in the 2nd quarter worth approximately $35,000. Finally, Employees Retirement System of Texas bought a new stake in Comerica in the 2nd quarter worth approximately $48,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of NYSE:CMA opened at $70.17 on Friday. Comerica has a 1-year low of $48.12 and a 1-year high of $73.45. 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 business has a fifty day moving average price of $68.78 and a 200-day moving average price of $61.43. The company has a market capitalization of $9.02 billion, a PE ratio of 13.44, a PEG ratio of 12.38 and a beta of 0.96.

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

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, September 15th. Comerica's payout ratio is presently 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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