Keefe, Bruyette & Woods Raises Comerica (NYSE:CMA) Price Target to $73.00

Comerica (NYSE:CMA - Free Report) had its target price raised by Keefe, Bruyette & Woods from $69.00 to $73.00 in a research report released on Monday morning, MarketBeat reports. The firm currently has an outperform rating on the financial services provider's stock.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reduced their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Piper Sandler raised their price objective on shares of Comerica from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Finally, Robert W. Baird reduced their price objective 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. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $63.25.

Comerica Stock Up 0.6%

Comerica stock traded up $0.40 during mid-day trading on Monday, reaching $67.03. 1,164,164 shares of the company's stock were exchanged, compared to its average volume of 1,967,538. The company has a market cap of $8.81 billion, a P/E ratio of 12.84 and a beta of 0.92. Comerica has a twelve month low of $48.12 and a twelve month high of $73.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $59.22 and a 200-day moving average of $59.60.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (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 net margin of 14.92% and a return on equity of 10.92%. During the same period in the prior year, the business earned $1.49 EPS. Sell-side analysts expect that Comerica will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.24%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is currently 54.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MorganRosel Wealth Management LLC purchased a new stake in shares of Comerica in the first quarter valued at about $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica during the first quarter worth about $34,000. Geneos Wealth Management Inc. boosted its holdings in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after buying an additional 176 shares in the last quarter. Quarry LP boosted its holdings in Comerica by 152.0% during the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Comerica during the first quarter worth about $55,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.