Comerica (NYSE:CMA) Stock Rating Reaffirmed by Stephens

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

CMA has been the subject of a number of other research reports. Morgan Stanley reaffirmed an equal weight rating and issued a $53.00 price target on shares of Comerica in a report on Monday, April 22nd. DA Davidson reaffirmed a neutral rating and set a $56.00 price target on shares of Comerica in a research note on Wednesday, March 6th. Jefferies Financial Group decreased their price target on shares of Comerica from $65.00 to $60.00 and set a buy rating for the company in a research note on Monday, April 8th. Truist Financial decreased their price target on shares of Comerica from $62.00 to $60.00 and set a buy rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Comerica from $61.00 to $62.00 and gave the company an outperform rating in a research note on Friday, April 19th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Comerica presently has an average rating of Hold and a consensus price target of $56.89.

Comerica Stock Up 1.1 %

Shares of NYSE:CMA opened at $50.77 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica has a 12 month low of $34.88 and a 12 month high of $57.39. The company has a 50-day moving average price of $52.56 and a 200 day moving average price of $51.50. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 10.09 and a beta of 1.27.

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

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend 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 Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Comerica by 10.9% during 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 purchasing an additional 856 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Comerica by 15.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,111 shares of the financial services provider’s stock worth $129,000 after buying an additional 424 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Comerica by 3.3% during the 3rd 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 in the last quarter. California Public Employees Retirement System lifted its holdings in Comerica by 17.3% during the 3rd 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 in the last quarter. Finally, LSV Asset Management lifted its holdings in Comerica by 3.5% during the 3rd 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 in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

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.