Deutsche Bank Aktiengesellschaft Begins Coverage on Comerica (NYSE:CMA)

Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica (NYSE:CMA) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $59.00 price objective on the financial services provider’s stock.

Several other analysts also recently weighed in on CMA. Argus downgraded Comerica from a buy rating to a hold rating in a research note on Monday, January 29th. Royal Bank of Canada cut their target price on Comerica from $63.00 to $61.00 and set an outperform rating on the stock in a research note on Tuesday. Truist Financial lifted their target price on Comerica from $60.00 to $62.00 and gave the company a buy rating in a research note on Monday, April 1st. The Goldman Sachs Group raised Comerica from a neutral rating to a buy rating and set a $70.50 target price on the stock in a research note on Thursday, January 4th. Finally, UBS Group reaffirmed a neutral rating and set a $59.00 target price (down previously from $66.00) on shares of Comerica in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $57.67.

Comerica Trading Down 0.9 %

NYSE:CMA opened at $51.24 on Wednesday. Comerica has a 12-month low of $28.40 and a 12-month high of $57.39. The firm has a market capitalization of $6.79 billion, a P/E ratio of 7.96 and a beta of 1.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day simple moving average of $51.37 and a 200 day simple moving average of $48.88.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $826.07 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same quarter in the previous year, the firm posted $2.58 EPS. Equities research analysts predict that Comerica will post 5.12 EPS for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC grew its stake in Comerica by 9.3% in the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 568 shares in the last quarter. MetLife Investment Management LLC grew its stake in Comerica by 22.7% in the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after purchasing an additional 6,590 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Comerica by 6.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock valued at $1,581,000 after purchasing an additional 1,024 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Comerica by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock valued at $2,626,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in Comerica by 119.2% in the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after purchasing an additional 4,165 shares in the last quarter. Hedge funds and other 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.