Comerica - CMA Stock Forecast, Price & News

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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. The Retail Bank segment provides personal financial services, such as consumer lending, consumer deposit gathering, and mortgage loan origination. This segment also offers various consumer products that include deposit accounts, installment loans, credit cards, student loans, home equity lines of credit, and residential mortgage loans, as well as commercial products and services to micro-businesses. The Wealth Management segment provides products and services comprising fiduciary, private banking, retirement, investment management and advisory, and investment banking and brokerage services. This segment also sells annuity products, as well as life, disability, and long-term care insurance products. The Finance segment engages in the securities portfolio, and asset and liability management activities. It operates in Texas, California, Michigan, Arizona, Florida, Canada, and Mexico. The company was formerly known as DETROITBANK Corporation and changed its name to Comerica Incorporated in July 1982. Comerica Incorporated was founded in 1849 and is headquartered in Dallas, Texas.

Comerica Stock Down 1.1 %

Comerica stock traded down $0.95 during midday trading on Wednesday, reaching $85.56. The stock had a trading volume of 493,581 shares, compared to its average volume of 1,350,217. Comerica has a 12 month low of $70.31 and a 12 month high of $102.09. The company has a market capitalization of $11.19 billion, a P/E ratio of 12.49, a PEG ratio of 1.38 and a beta of 1.30. The company has a fifty day moving average price of $77.03 and a two-hundred day moving average price of $84.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

Comerica (NYSE:CMA - Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same quarter last year, the company posted $2.32 earnings per share. As a group, equities analysts expect that Comerica will post 8.38 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, September 14th. Comerica's dividend payout ratio is currently 39.71%.

Analyst Ratings Changes

Several research firms recently weighed in on CMA. Citigroup raised their price objective on Comerica to $95.00 in a report on Friday, July 22nd. Truist Financial cut their price objective on Comerica from $103.00 to $98.00 and set a "buy" rating on the stock in a report on Wednesday, June 15th. Evercore ISI raised their price objective on Comerica to $86.00 in a report on Friday, July 22nd. Wells Fargo & Company cut their target price on Comerica from $82.00 to $77.00 and set an "underweight" rating on the stock in a report on Friday, July 1st. Finally, Robert W. Baird raised Comerica from a "neutral" rating to an "outperform" rating and set a $85.00 target price on the stock in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.45.

Insiders Place Their Bets

In related news, EVP Peter L. Sefzik sold 7,287 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $83.78, for a total value of $610,504.86. Following the transaction, the executive vice president now owns 32,007 shares in the company, valued at $2,681,546.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.76% of the company's stock.