Keefe, Bruyette & Woods Has Lowered Expectations for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA - Free Report) had its target price cut by Keefe, Bruyette & Woods from $77.00 to $68.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

A number of other brokerages have also weighed in on CMA. Truist Financial upgraded Comerica to a "hold" rating in a research note on Monday, January 6th. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Argus raised Comerica to a "hold" rating in a report on Friday, January 31st. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.84.

Comerica Stock Performance

Shares of NYSE CMA traded down $0.25 during midday trading on Tuesday, hitting $53.12. 725,340 shares of the company's stock were exchanged, compared to its average volume of 2,218,706. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.58 and a beta of 0.96. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45. The company's 50 day moving average price is $57.38 and its 200 day moving average price is $62.67.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. Comerica's dividend payout ratio is currently 53.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CMA. Trust Co. of Vermont boosted its stake in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica in the fourth quarter valued at approximately $31,000. MorganRosel Wealth Management LLC acquired a new position in shares of Comerica during the first quarter worth $33,000. MCF Advisors LLC boosted its holdings in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Comerica during the 3rd quarter worth $42,000. 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.