Brokerages Set Comerica Incorporated (NYSE:CMA) Price Target at $68.16

Comerica Incorporated (NYSE:CMA) has been given an average rating of “Hold” by the twenty research firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $68.16.

A number of research firms have recently issued reports on CMA. DA Davidson reduced their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, Raymond James lowered their target price on Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd.

Comerica Trading Up 0.7 %

Comerica stock opened at $52.89 on Friday. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 10.54 and a beta of 0.96. The company has a 50 day moving average price of $59.16 and a 200 day moving average price of $62.90.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company posted $1.46 EPS. Research analysts forecast that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.37%. Comerica’s dividend payout ratio is 56.57%.

Institutional Investors Weigh In On Comerica

A number of institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its position in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. Finally, V Square Quantitative Management LLC raised its position in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.