Comerica (NYSE:CMA) Price Target Raised to $54.00

Comerica (NYSE:CMA - Free Report) had its price objective hoisted by Piper Sandler from $53.00 to $54.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the financial services provider's stock.

Several other research firms have also recently issued reports on CMA. Morgan Stanley raised their price target on Comerica from $45.00 to $54.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Bank Of America (Bofa) lifted their target price on shares of Comerica from $52.00 to $55.00 and gave the stock a neutral rating in a report on Thursday, January 18th. TheStreet upgraded shares of Comerica from a c+ rating to a b- rating in a research report on Tuesday, December 26th. UBS Group reduced their price target on Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a report on Wednesday, April 10th. They issued a hold rating and a $59.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $58.02.

Comerica Price Performance

NYSE:CMA traded up $0.92 during mid-day trading on Friday, reaching $51.58. 2,364,097 shares of the company were exchanged, compared to its average volume of 2,122,370. Comerica has a 12 month low of $28.40 and a 12 month high of $57.39. The stock has a market cap of $6.83 billion, a PE ratio of 8.01 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $51.38 and a 200 day moving average of $49.23.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $807.57 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the previous year, the company posted $2.39 EPS. On average, research analysts anticipate that Comerica will post 5.09 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.71 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. Comerica's dividend payout ratio (DPR) is currently 44.10%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the company's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the business's stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares of the company's stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Comerica

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its stake in shares of Comerica by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider's stock valued at $605,000 after acquiring an additional 568 shares during the last quarter. MetLife Investment Management LLC lifted its position in Comerica by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider's stock valued at $3,216,000 after acquiring an additional 6,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Comerica by 6.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider's stock worth $1,581,000 after acquiring an additional 1,024 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Comerica by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider's stock worth $2,626,000 after buying an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider's stock worth $693,000 after purchasing an additional 4,165 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.