Comerica Incorporated (NYSE:CMA) Receives Consensus Rating of “Hold” from Brokerages

Comerica Incorporated (NYSE:CMA) has received a consensus rating of “Hold” from the twenty-two research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $68.29.

CMA has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Stephens reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Comerica in a research note on Wednesday, March 5th. Argus raised Comerica to a “hold” rating in a research note on Friday, January 31st. UBS Group assumed coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. Finally, Compass Point lifted their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Comerica Stock Performance

NYSE:CMA opened at $57.75 on Monday. The business has a 50 day moving average of $63.81 and a 200 day moving average of $63.40. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 11.50 and a beta of 1.23. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 company posted $1.46 earnings per share. On average, sell-side analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments Inc purchased a new stake in Comerica during the third quarter valued at $219,000. Crossmark Global Holdings Inc. increased its position in Comerica by 50.6% during the third quarter. Crossmark Global Holdings Inc. now owns 9,366 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 3,146 shares during the last quarter. Victory Capital Management Inc. increased its position in Comerica by 38.2% during the third quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider’s stock valued at $2,596,000 after acquiring an additional 11,981 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock valued at $1,218,000 after acquiring an additional 12,454 shares during the last quarter. Finally, KBC Group NV increased its position in Comerica by 17.3% during the third quarter. KBC Group NV now owns 3,955 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 582 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.