Comerica Incorporated (NYSE:CMA) Receives $68.33 Consensus Price Target from Analysts

Shares of Comerica Incorporated (NYSE:CMAGet Free Report) have received a consensus rating of “Hold” from the twenty-one analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $68.33.

Several analysts have recently commented on the company. Stephens increased their target price on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Barclays upped their price target on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. UBS Group started coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target on the stock. Finally, Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and cut their price target for the company from $55.00 to $52.00 in a research note on Monday, October 7th.

View Our Latest Stock Analysis on CMA

Comerica Stock Performance

Shares of NYSE:CMA opened at $67.49 on Friday. The business’s fifty day moving average price is $65.28 and its two-hundred day moving average price is $61.19. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.44 and a beta of 1.26. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45.

Comerica (NYSE:CMAGet Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the firm posted $1.46 EPS. As a group, analysts predict that Comerica will post 5.36 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 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 4.21%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is currently 56.57%.

Comerica announced that its board has approved a share buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wedmont Private Capital grew its holdings in shares of Comerica by 2.4% during the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after buying an additional 186 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Comerica by 19.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after buying an additional 199 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Comerica by 5.2% during the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after buying an additional 200 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Company Profile

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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.

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Analyst Recommendations for Comerica (NYSE:CMA)

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