Comerica (NYSE:CMA) Receives Hold Rating from Stephens

Stephens reaffirmed their hold rating on shares of Comerica (NYSE:CMA) in a research report report published on Wednesday, AnalystRatings.com reports. They currently have a $72.00 price objective on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. DA Davidson cut their target price on shares of Comerica to $75.00 and set a neutral rating for the company in a research report on Thursday, July 18th. Raymond James downgraded shares of Comerica from an outperform rating to a market perform rating in a research report on Monday, July 8th. B. Riley cut their target price on shares of Comerica from $73.00 to $65.00 and set a neutral rating for the company in a research report on Friday, October 4th. Wedbush cut their target price on shares of Comerica from $75.00 to $71.00 and set a neutral rating for the company in a research report on Thursday, August 22nd. Finally, Odeon Capital Group downgraded shares of Comerica from a buy rating to a sell rating in a research report on Wednesday, September 4th. Seven research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Comerica presently has a consensus rating of Hold and a consensus target price of $76.98.

NYSE:CMA traded down $0.67 during trading hours on Wednesday, reaching $64.82. The company had a trading volume of 79,009 shares, compared to its average volume of 1,487,192. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.90. Comerica has a 52 week low of $58.54 and a 52 week high of $88.96. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.59 and a beta of 1.53. The firm’s 50 day moving average price is $63.99 and its 200-day moving average price is $69.83.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. Comerica had a net margin of 33.29% and a return on equity of 16.92%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $836.10 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that Comerica will post 7.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, September 12th. Comerica’s dividend payout ratio is presently 37.02%.

Several institutional investors have recently modified their holdings of the company. Covington Capital Management lifted its stake in shares of Comerica by 88.5% during the 2nd quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock valued at $30,000 after buying an additional 193 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Comerica during the 3rd quarter valued at $38,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Comerica during the 2nd quarter valued at $51,000. CSat Investment Advisory L.P. lifted its stake in shares of Comerica by 170.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock valued at $52,000 after buying an additional 445 shares in the last quarter. Finally, Kavar Capital Partners LLC purchased a new position in shares of Comerica during the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 86.42% of the company’s stock.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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Analyst Recommendations for Comerica (NYSE:CMA)

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