Brokerages Set Comerica Incorporated (NYSE:CMA) Target Price at $74.55

Comerica Incorporated (NYSE:CMA) has earned a consensus recommendation of “Hold” from the twenty-three analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $74.55.

A number of equities analysts have weighed in on CMA shares. Cowen assumed coverage on Comerica in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Cantor Fitzgerald assumed coverage on Comerica in a report on Wednesday, September 10th. They set a “neutral” rating and a $72.00 price target on the stock. Royal Bank Of Canada upped their price objective on shares of Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Truist Financial lifted their target price on shares of Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Finally, Weiss Ratings cut shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th.

Hedge Funds Weigh In On Comerica

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its position in shares of Comerica by 127.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,512 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 847 shares during the last quarter. Danske Bank A S acquired a new position in Comerica in the third quarter valued at about $137,000. Kestra Private Wealth Services LLC purchased a new position in Comerica during the third quarter worth about $218,000. NewEdge Advisors LLC increased its position in shares of Comerica by 28.2% during the third quarter. NewEdge Advisors LLC now owns 46,008 shares of the financial services provider’s stock valued at $3,152,000 after acquiring an additional 10,125 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Comerica by 0.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 106,935 shares of the financial services provider’s stock valued at $7,373,000 after acquiring an additional 921 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Price Performance

NYSE CMA traded up $0.26 during trading hours on Friday, hitting $80.38. 336,393 shares of the company’s stock traded hands, compared to its average volume of 2,074,992. The company has a market capitalization of $10.27 billion, a PE ratio of 15.34 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. Comerica has a 52-week low of $48.12 and a 52-week high of $83.22. The firm’s 50-day moving average is $76.18 and its 200-day moving average is $67.92.

Comerica (NYSE:CMA) last released its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The business 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%. Equities analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, December 15th. Comerica’s dividend payout ratio is presently 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.