Comerica (NYSE:CMA) Stock Price Up 5%

Comerica Incorporated (NYSE:CMA) shares rose 5% during trading on Friday . The stock traded as high as $50.43 and last traded at $50.23. Approximately 693,703 shares were traded during trading, a decline of 69% from the average daily volume of 2,206,554 shares. The stock had previously closed at $47.84.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CMA shares. Citigroup downgraded shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price target for the company from $60.00 to $56.00 in a report on Monday, May 6th. DA Davidson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. Robert W. Baird lowered their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group decreased their price objective on shares of Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Comerica in a research note on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.13.

Comerica Stock Up 6.7 %

The company’s fifty day simple moving average is $50.68 and its 200-day simple moving average is $51.97. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $6.77 billion, a PE ratio of 10.00 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same period in the previous year, the firm posted $2.39 earnings per share. On average, analysts forecast that Comerica Incorporated will post 5.08 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.56%. Comerica’s payout ratio is currently 56.46%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, 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 is available at this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMA. Spire Wealth Management lifted its position in Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Comerica in the fourth quarter worth about $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica during the 4th quarter worth about $36,000. Abich Financial Wealth Management LLC boosted its stake in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Comerica during the 4th quarter worth about $50,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.