Comerica (NYSE:CMA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Comerica (NYSE:CMA - Free Report) had its price objective boosted by Piper Sandler from $57.00 to $60.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider's stock.

Several other equities research analysts have also commented on CMA. Robert W. Baird lowered their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada lowered their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Comerica in a research report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and decreased their target price for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Comerica presently has a consensus rating of "Hold" and an average price target of $61.74.

Comerica Stock Down 1.5%

NYSE CMA traded down $0.89 during trading on Wednesday, reaching $58.02. 1,705,289 shares of the company's stock traded hands, compared to its average volume of 2,168,084. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 11.56 and a beta of 0.92. The company's 50 day simple moving average is $55.29 and its two-hundred day simple moving average is $60.78. 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 $45.86 and a 12-month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, sell-side analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is currently 53.69%.

Institutional Trading of Comerica

A number of large investors have recently made changes to their positions in CMA. MorganRosel Wealth Management LLC purchased a new stake in shares of Comerica in the 1st quarter valued at approximately $33,000. Gen Wealth Partners Inc purchased a new position in Comerica in the first quarter valued at $34,000. Geneos Wealth Management Inc. increased its holdings in Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $35,000 after buying an additional 176 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after buying an additional 221 shares during the last quarter. Finally, Quarry LP increased its holdings in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after buying an additional 523 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.