Comerica (NYSE:CMA) Given New $68.00 Price Target at Robert W. Baird

Comerica (NYSE:CMA) had its price target trimmed by Robert W. Baird from $72.00 to $68.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CMA. Jefferies Financial Group reduced their price objective on shares of Comerica from $65.00 to $60.00 and set a buy rating on the stock in a research report on Monday, April 8th. The Goldman Sachs Group reduced their price objective on shares of Comerica from $69.00 to $62.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a hold rating and a $59.00 price objective on the stock. DA Davidson reissued a neutral rating and set a $56.00 price objective on shares of Comerica in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company reduced their target price on shares of Comerica from $48.00 to $45.00 and set an underweight rating on the stock in a research report on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Comerica currently has a consensus rating of Hold and an average target price of $56.30.

Comerica Trading Up 0.4 %

NYSE:CMA opened at $47.33 on Thursday. The company has a fifty day moving average of $50.93 and a 200 day moving average of $52.00. Comerica has a 52 week low of $37.40 and a 52 week high of $57.39. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $6.28 billion, a P/E ratio of 9.41 and a beta of 1.25.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the previous year, the firm earned $2.39 EPS. On average, research analysts predict that Comerica will post 5.13 earnings per share for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Several institutional investors have recently made changes to their positions in CMA. Spire Wealth Management lifted its stake in shares of Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the period. Fortitude Family Office LLC bought a new position in shares of Comerica in the 4th quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Comerica in the 4th quarter worth approximately $36,000. FNY Investment Advisers LLC bought a new position in shares of Comerica in the 4th quarter worth approximately $50,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Comerica in the 4th quarter worth approximately $51,000. Institutional investors own 80.74% of the company’s stock.

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.