Analysts Set Comerica Incorporated (NYSE:CMA) Target Price at $67.05

Comerica Incorporated (NYSE:CMA) has been given an average recommendation of “Hold” by the twenty-four research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $67.0476.

Several analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Comerica from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Piper Sandler raised their price objective on shares of Comerica from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. TD Cowen assumed coverage on shares of Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 target price on the stock. Truist Financial increased their target price on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, JPMorgan Chase & Co. raised their target price on Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st.

Comerica Trading Up 0.7%

NYSE:CMA opened at $70.60 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average is $68.83 and its 200 day moving average is $61.54. Comerica has a 12 month low of $48.12 and a 12 month high of $73.45. The stock has a market capitalization of $9.07 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 12.64 and a beta of 0.96.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.19. The firm had revenue of $849.00 million for the quarter, compared to analysts’ expectations of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same quarter in the prior year, the firm earned $1.49 EPS. Sell-side analysts expect that Comerica will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.84 annualized dividend and a dividend yield of 4.0%. Comerica’s dividend payout ratio is presently 54.41%.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 2,100 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.03, for a total transaction of $140,763.00. Following the completion of the transaction, the executive vice president directly owned 9,424 shares in the company, valued at $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares in the company, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Comerica

A number of hedge funds have recently bought and sold shares of CMA. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Comerica by 18.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 1,732 shares during the last quarter. GAMMA Investing LLC raised its position in Comerica by 5,515.7% in the 1st quarter. GAMMA Investing LLC now owns 341,662 shares of the financial services provider’s stock worth $20,179,000 after purchasing an additional 335,578 shares during the period. NBC Securities Inc. lifted its stake in Comerica by 139,666.7% in the first quarter. NBC Securities Inc. now owns 4,193 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 4,190 shares during the last quarter. Fermata Advisors LLC purchased a new stake in Comerica during the first quarter valued at about $1,042,000. Finally, Gateway Investment Advisers LLC grew its stake in shares of Comerica by 1.3% during the first quarter. Gateway Investment Advisers LLC now owns 27,190 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 344 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.