Comerica Incorporated (NYSE:CMA) Given Consensus Rating of “Hold” by Analysts

Shares of Comerica Incorporated (NYSE:CMA) have been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $74.2632.

CMA has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Piper Sandler set a $82.00 target price on Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Weiss Ratings downgraded Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Jefferies Financial Group lifted their price target on Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Finally, Cowen initiated coverage on shares of Comerica in a research note on Wednesday, September 24th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Comerica

Hedge funds have recently made changes to their positions in the stock. Swiss Life Asset Management Ltd increased its holdings in shares of Comerica by 78.3% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 6,036 shares of the financial services provider’s stock worth $414,000 after buying an additional 2,651 shares during the last quarter. Cambria Investment Management L.P. acquired a new stake in Comerica during the third quarter worth about $9,186,000. CIBC Private Wealth Group LLC increased its stake in Comerica by 127.4% during the third quarter. CIBC Private Wealth Group LLC now owns 1,512 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 847 shares during the last quarter. Danske Bank A S purchased a new position in shares of Comerica in the 3rd quarter worth about $137,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Comerica in the 3rd quarter valued at about $218,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $87.74 on Wednesday. The firm has a 50 day simple moving average of $79.63 and a 200-day simple moving average of $70.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $11.21 billion, a PE ratio of 16.74 and a beta of 1.07. Comerica has a 1-year low of $48.12 and a 1-year high of $90.44.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The firm had revenue of $824.00 million for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. On average, equities analysts expect that Comerica will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 3.2%. Comerica’s dividend payout ratio is 54.20%.

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.