Comerica’s (CMA) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Comerica (NYSE:CMAFree Report) in a research note released on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $58.00 price objective on the financial services provider’s stock.

CMA has been the subject of a number of other research reports. UBS Group dropped their price objective on shares of Comerica from $59.00 to $55.00 and set a neutral rating for the company in a report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Comerica from $61.00 to $62.00 and gave the company an outperform rating in a report on Friday, April 19th. DA Davidson restated a neutral rating and issued a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Truist Financial dropped their price objective on shares of Comerica from $62.00 to $60.00 and set a buy rating for the company in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a report on Wednesday, April 10th. They issued a hold rating and a $59.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Comerica presently has an average rating of Hold and an average price target of $55.77.

Read Our Latest Report on Comerica

Comerica Price Performance

Shares of CMA opened at $48.16 on Tuesday. Comerica has a 1-year low of $37.40 and a 1-year high of $57.39. The stock has a market cap of $6.39 billion, a PE ratio of 9.58 and a beta of 1.25. The firm has a 50-day simple moving average of $51.60 and a two-hundred day simple moving average of $51.95. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95.

Comerica (NYSE:CMAGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share 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 business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same period last year, the business earned $2.39 earnings per share. As a group, analysts forecast that Comerica will post 5.19 EPS for the current year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.90%. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Comerica

Several institutional investors have recently bought and sold shares of CMA. Spire Wealth Management increased its stake in Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after buying an additional 235 shares during the period. Fortitude Family Office LLC acquired a new position in Comerica in the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC acquired a new position in Comerica in the 4th quarter valued at $36,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica during the 4th quarter worth $50,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Comerica during the 4th quarter worth $51,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Company Profile

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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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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