Shares of Comerica Incorporated (NYSE: CMA) have received an average rating of “Hold” from the eighteen analysts who currently cover the company, reports Marketbeat Ratings. Three research analysts rated the stock with a sell rating, six issued a conservation rating, and eight gave the company a buy rating. The 1-year average price target among brokerage firms that issued stock ratings in the past year is $ 74.63.
CMA has been the subject of several recent research reports. Barclays raised its price target for Comerica shares from $ 74.00 to $ 77.00 and rated the stock “underweight” in a research note on Thursday, July 22. Truist Securities reduced its price target on Comerica from $ 100.00 to $ 83.00 and set a “buy” rating on the security in a research note on Thursday, July 22. Compass Point raised its price target for Comerica from $ 62.00 to $ 65.00 and gave the stock a “sell” rating in a report released on Tuesday, May 18. Citigroup assumed coverage of Comerica shares in a research note on Friday, July 16. They set a “buy” rating and a target price of $ 67.50 on the stock. Finally, Stephens lowered his price target for Comerica shares from $ 82.00 to $ 80.00 and established an “overweight” rating for the company in a report released on Friday August 6.
CMA shares opened at $ 73.65 on Wednesday. The company’s 50-day moving average is $ 70.33. The company has a market cap of $ 9.86 billion, a PE ratio of 9.59, a PEG ratio of 0.34 and a beta of 1.58. Comerica has a one-year minimum of $ 35.76 and a one-year maximum of $ 79.86. The company has a current ratio of 0.93, a quick ratio of 0.93, and a debt ratio of 0.38.
Comerica (NYSE: CMA) last released its results on Tuesday, July 20. The financial services provider reported earnings per share of $ 2.32 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.61 by $ 0.71. Comerica had a net margin of 37.02% and a return on equity of 14.51%. During the same period of the previous year, the company posted earnings of $ 0.80 per share. Stock analysts predict that Comerica will post earnings per share of 7.9 for the current year.
Comerica announced that its board of directors authorized a share buyback plan on Tuesday April 27 which allows the company to buy back 10,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy back shares of its capital through market purchases. Share buyback plans are often a sign that company management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 1. Investors of record on Wednesday, September 15 will receive a dividend of $ 0.68 per share. The ex-dividend date for this dividend is Tuesday, September 14. This represents an annualized dividend of $ 2.72 and a return of 3.69%. Comerica’s dividend payout ratio is currently 83.18%.
Hedge funds have recently changed their holdings in the company. Lazard Asset Management LLC increased its stake in Comerica shares by 51.9% in the second quarter. Lazard Asset Management LLC now owns 395 shares of the financial services provider valued at $ 28,000 after buying 135 more shares in the last quarter. IFP Advisors Inc strengthened its position in Comerica shares by 275.9% during the second quarter. IFP Advisors Inc now owns 436 shares of the financial services provider valued at $ 31,000 after purchasing an additional 320 shares in the last quarter. Harvest Fund Management Co. Ltd. acquired a new position in Comerica shares during the 1st quarter valued at $ 31,000. Tobam acquired a new position in Comerica shares during the 1st quarter valued at $ 38,000. Finally, AGF Investments LLC increased its stake in Comerica shares by 69.9% in the first quarter. AGF Investments LLC now owns 576 shares of the financial services provider valued at $ 41,000 after purchasing an additional 237 shares last quarter. 78.26% of the shares are held by institutional investors and hedge funds.
Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Commercial banking, Retail banking, Wealth management, Finance and others. The Commercial Banking segment involves middle market enterprises, multinational corporations and government entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, trade management services and loan syndication services.
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