Comerica (CMA) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Comerica (NYSE: CMA) in the last few weeks:

• 10/2/2024 – Comerica had its price target raised by analysts at Evercore ISI from $58.00 to $64.00. They now have an “in-line” rating on the stock.
• 9/30/2024 – Comerica had its price target raised by analysts at Morgan Stanley from $61.00 to $63.00. They now have an “equal weight” rating on the stock.
• 9/24/2024 – Comerica was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/24/2024 – Comerica was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating. They now have a $75.00 price target on the stock, up previously from $52.00.
• 9/20/2024 – Comerica had its price target raised by analysts at Truist Financial Co. from $53.00 to $66.00. They now have a “hold” rating on the stock.
• 9/16/2024 – Comerica was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 9/10/2024 – Comerica had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $58.00 price target on the stock.
• 9/10/2024 – Comerica had its “neutral” rating reaffirmed by analysts at DA Davidson. They now have a $55.00 price target on the stock.
• 9/6/2024 – Comerica was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 9/5/2024 – Comerica was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $69.00 price target on the stock, up previously from $50.00.
• 8/27/2024 – Comerica was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 8/5/2024 – Comerica had its price target raised by analysts at Morgan Stanley from $50.00 to $61.00. They now have an “equal weight” rating on the stock.

Comerica Price Performance

Shares of Comerica stock traded down $0.03 during mid-day trading on Thursday, reaching $58.10. 318,813 shares of the stock were exchanged, compared to its average volume of 2,161,449. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 11.55 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $61.84. The firm has a 50-day simple moving average of $56.08 and a 200 day simple moving average of $53.11.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comerica

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new position in shares of Comerica in the fourth quarter valued at about $4,096,000. Treasurer of the State of North Carolina lifted its position in shares of Comerica by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,359 shares of the financial services provider’s stock worth $3,257,000 after buying an additional 570 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Comerica by 1,078.2% during the fourth quarter. Bank of Nova Scotia now owns 107,039 shares of the financial services provider’s stock worth $5,974,000 after buying an additional 97,954 shares in the last quarter. KBC Group NV bought a new position in Comerica in the 4th quarter valued at approximately $140,000. Finally, Rafferty Asset Management LLC raised its position in Comerica by 8.6% during the 4th quarter. Rafferty Asset Management LLC now owns 57,179 shares of the financial services provider’s stock worth $3,191,000 after purchasing an additional 4,540 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.