Comerica (NYSE:CMA) PT Set at $61.00 by Truist Financial

Truist Financial set a $61.00 target price on Comerica (NYSE:CMA - Free Report) in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has a hold rating on the financial services provider's stock.

CMA has been the topic of a number of other reports. Raymond James lowered their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered shares of Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and cut their price target for the stock from $65.00 to $50.00 in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $61.95.

Comerica Stock Performance

Shares of NYSE:CMA traded up $0.46 during midday trading on Friday, reaching $55.45. The company had a trading volume of 1,337,001 shares, compared to its average volume of 2,155,378. The stock has a market cap of $7.29 billion, a P/E ratio of 11.05 and a beta of 0.92. The company's 50 day moving average price is $55.51 and its 200 day moving average price is $60.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a 52-week low of $45.86 and a 52-week high of $73.45.

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, beating 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 during the quarter, compared to the consensus estimate of $839.31 million. During the same period in the prior year, the firm earned $1.29 EPS. As a group, sell-side analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 5.12%. Comerica's dividend payout ratio (DPR) is presently 53.69%.

Institutional Investors Weigh In On Comerica

A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Comerica by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider's stock worth $325,308,000 after purchasing an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Comerica by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider's stock worth $275,423,000 after buying an additional 231,885 shares during the last quarter. North Reef Capital Management LP boosted its stake in Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after buying an additional 550,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Comerica by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider's stock valued at $137,107,000 after acquiring an additional 203,333 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock valued at $137,039,000 after acquiring an additional 103,118 shares during the last quarter. 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.