Stephens Reaffirms Overweight Rating for Comerica (NYSE:CMA)

Stephens reiterated their overweight rating on shares of Comerica (NYSE:CMA) in a research report sent to investors on Friday, Benzinga reports. Stephens currently has a $64.00 price objective on the financial services provider’s stock.

A number of other brokerages have also recently commented on CMA. Truist Financial raised their price target on shares of Comerica from $60.00 to $62.00 and gave the stock a buy rating in a research note on Monday, April 1st. DA Davidson restated a neutral rating and set a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. The Goldman Sachs Group upgraded shares of Comerica from a neutral rating to a buy rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Morgan Stanley raised their price target on shares of Comerica from $45.00 to $54.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a report on Wednesday, April 10th. They set a hold rating and a $59.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $58.02.

Comerica Stock Up 1.8 %

NYSE CMA opened at $51.58 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a 50-day simple moving average of $51.38 and a 200 day simple moving average of $49.23. Comerica has a twelve month low of $28.40 and a twelve month high of $57.39. The stock has a market cap of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27.

Comerica (NYSE:CMA) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating 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 analysts’ expectations of $807.57 million. During the same quarter last year, the company earned $2.39 earnings per share. On average, research analysts forecast that Comerica will post 5.09 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date was Thursday, March 14th. Comerica’s dividend payout ratio is presently 56.46%.

Insiders Place Their Bets

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its holdings in Comerica by 1,192.2% in the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock valued at $168,405,000 after purchasing an additional 3,578,355 shares during the period. Norges Bank bought a new stake in Comerica in the 4th quarter valued at about $113,763,000. BlackRock Inc. boosted its holdings in Comerica by 9.4% in the 1st quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after purchasing an additional 1,145,951 shares during the period. Azora Capital LP bought a new stake in shares of Comerica during the 4th quarter worth approximately $63,548,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares during the period. 80.74% of the stock is owned by institutional investors.

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.