Comerica Incorporated (NYSE:CMA) Given Average Recommendation of “Moderate Buy” by Brokerages

Comerica Incorporated (NYSE:CMAGet Rating) has received a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $89.15.

Several equities research analysts recently issued reports on CMA shares. Argus upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Thursday, October 20th. TheStreet upgraded shares of Comerica from a “c+” rating to a “b-” rating in a research report on Friday, August 12th. Piper Sandler cut their price objective on shares of Comerica to $85.00 in a research report on Thursday, October 20th. StockNews.com began coverage on shares of Comerica in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Monday.

Comerica Price Performance

Shares of NYSE CMA opened at $71.75 on Friday. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.36 and a beta of 1.20. The business has a 50-day moving average of $71.83 and a 200-day moving average of $76.27. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85. Comerica has a fifty-two week low of $64.11 and a fifty-two week high of $102.09.

Comerica (NYSE:CMAGet Rating) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, sell-side analysts predict that Comerica will post 8.53 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 15th will be paid a $0.68 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $2.72 dividend on an annualized basis and a yield of 3.79%. Comerica’s dividend payout ratio (DPR) is 36.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMA. Bank of New York Mellon Corp increased its stake in Comerica by 59.8% in the first quarter. Bank of New York Mellon Corp now owns 4,758,239 shares of the financial services provider’s stock valued at $430,288,000 after acquiring an additional 1,780,121 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Comerica by 241.2% during the first quarter. American Century Companies Inc. now owns 574,658 shares of the financial services provider’s stock worth $51,966,000 after buying an additional 406,258 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Comerica by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock worth $1,435,224,000 after buying an additional 366,188 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Comerica during the third quarter worth $25,237,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Comerica during the third quarter worth $23,743,000. 82.56% of the stock is owned by institutional investors.

About Comerica

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.

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Analyst Recommendations for Comerica (NYSE:CMA)

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