UBS Group Cuts Comerica (NYSE:CMA) Price Target to $55.00

Comerica (NYSE:CMA) had its target price decreased by UBS Group from $59.00 to $55.00 in a research report sent to investors on Friday, Benzinga reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Comerica from $63.00 to $61.00 and set an outperform rating for the company in a report on Tuesday, April 9th. TheStreet upgraded shares of Comerica from a c+ rating to a b- rating in a research report on Tuesday, December 26th. Argus lowered shares of Comerica from a buy rating to a hold rating in a research report on Monday, January 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They issued a hold rating and a $59.00 target price on the stock. Finally, Raymond James lowered shares of Comerica from an outperform rating to a market perform rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $58.02.

Comerica Trading Up 1.8 %

Shares of Comerica stock opened at $51.58 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a fifty day moving average price of $51.38 and a 200 day moving average price of $49.23. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The stock has a market cap of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same quarter in the previous year, the company earned $2.39 earnings per share. Equities research analysts predict that Comerica will post 5.09 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.51%. Comerica’s payout ratio is 56.46%.

Insider Activity

In other news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Large investors have recently added to or reduced their stakes in the business. Spire Wealth Management increased its stake in Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after buying an additional 235 shares during the period. Quarry LP purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $26,000. Chilton Capital Management LLC purchased a new stake in shares of Comerica in the 1st quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $36,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $36,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.