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.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CMA shares. Piper Sandler cut their target price on Comerica to $90.00 in a research report on Friday, July 22nd. Royal Bank of Canada lowered their target price on shares of Comerica from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Thursday, April 21st. Wells Fargo & Company cut their price target on shares of Comerica from $82.00 to $77.00 and set an "underweight" rating on the stock in a report on Friday, July 1st. Jefferies Financial Group dropped their target price on shares of Comerica from $100.00 to $86.00 in a research report on Monday, July 11th. Finally, Wedbush upped their target price on Comerica from $89.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, July 21st. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $95.45.

Comerica Stock Performance

Shares of CMA opened at $85.63 on Tuesday. Comerica has a 52-week low of $70.31 and a 52-week high of $102.09. The stock's 50-day simple moving average is $76.85 and its 200 day simple moving average is $84.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30.

Comerica (NYSE:CMA - Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.15. Comerica had a net margin of 30.42% and a return on equity of 13.63%. During the same period in the prior year, the business earned $2.32 EPS. Research analysts forecast that Comerica will post 8.38 EPS for the current fiscal year.

Comerica Dividend Announcement

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

Insider Transactions at Comerica

In related news, EVP Peter L. Sefzik sold 7,287 shares of Comerica stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $83.78, for a total transaction of $610,504.86. Following the completion of the sale, the executive vice president now owns 32,007 shares of the company's stock, valued at $2,681,546.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company's stock.