Comerica’s (CMA) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of Comerica (NYSE:CMA) in a research report report published on Thursday, Benzinga reports. The firm currently has a $64.00 price target on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Piper Sandler increased their target price on Comerica from $54.00 to $56.00 and gave the company a neutral rating in a research note on Friday, April 26th. Truist Financial cut their target price on Comerica from $62.00 to $60.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft began coverage on Comerica in a research note on Wednesday, April 10th. They issued a hold rating and a $59.00 price target on the stock. UBS Group dropped their price target on Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Finally, DA Davidson restated a neutral rating and issued a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Comerica currently has a consensus rating of Hold and a consensus price target of $56.89.

Comerica Trading Down 5.7 %

CMA opened at $50.25 on Thursday. The business has a 50 day simple moving average of $52.53 and a two-hundred day simple moving average of $51.32. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 9.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. Comerica has a one year low of $34.88 and a one year high of $57.39.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same quarter in the prior year, the company earned $2.39 EPS. Analysts predict that Comerica will post 5.19 EPS for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is presently 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Comerica

A number of large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in Comerica by 10.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,742 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 856 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Comerica by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 3,111 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 424 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Comerica by 3.3% during the third quarter. Principal Financial Group Inc. now owns 156,158 shares of the financial services provider’s stock worth $6,488,000 after buying an additional 4,978 shares during the period. California Public Employees Retirement System boosted its stake in shares of Comerica by 17.3% during the third quarter. California Public Employees Retirement System now owns 256,854 shares of the financial services provider’s stock worth $10,672,000 after buying an additional 37,946 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Comerica by 3.5% during the third quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock worth $28,211,000 after buying an additional 22,800 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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.