Comerica (NYSE:CMA) Cut to Equal Weight at Stephens

by · The Markets Daily

Stephens cut shares of Comerica (NYSE:CMA – Free Report) from an overweight rating to an equal weight rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $64.00 target price on the financial services provider’s stock, down from their previous target price of $66.00.

A number of other research analysts also recently issued reports on CMA. Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. Piper Sandler boosted their target price on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. UBS Group began coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective for the company. Finally, Robert W. Baird raised their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.95.

View Our Latest Stock Report on Comerica

Comerica Stock Up 1.9 %

NYSE:CMA opened at $59.30 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $7.78 billion, a P/E ratio of 11.81 and a beta of 1.23. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm has a 50-day simple moving average of $62.70 and a two-hundred day simple moving average of $63.62.

Comerica (NYSE:CMA – Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the company posted $1.46 EPS. Analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.79%. Comerica’s payout ratio is 56.57%.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Comerica by 11.5% during the third quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock valued at $2,097,000 after buying an additional 3,599 shares during the last quarter. Townsquare Capital LLC increased its holdings in Comerica by 27.1% in the 3rd quarter. Townsquare Capital LLC now owns 5,555 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 1,183 shares during the last quarter. Bridgewater Associates LP purchased a new stake in Comerica in the 3rd quarter worth $720,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Comerica by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,325 shares of the financial services provider’s stock valued at $1,757,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Comerica by 19.1% during the third quarter. Captrust Financial Advisors now owns 14,085 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 2,263 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

About Comerica

(Get Free Report)

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.

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