Comerica (NYSE:CMA) Receives Overweight Rating from Stephens

Stephens reaffirmed their overweight rating on shares of Comerica (NYSE:CMA) in a research note issued to investors on Friday morning, Benzinga reports. Stephens currently has a $64.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also commented on the company. Raymond James lowered Comerica from an outperform rating to a market perform rating in a report on Monday, January 22nd. Jefferies Financial Group cut their price target on Comerica from $65.00 to $60.00 and set a buy rating for the company in a report on Monday, April 8th. Evercore ISI raised their price target on Comerica from $55.00 to $58.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Royal Bank of Canada cut their price target on Comerica from $63.00 to $61.00 and set an outperform rating for the company in a report on Tuesday, April 9th. Finally, DA Davidson reaffirmed a neutral rating and issued a $56.00 price target on shares of Comerica in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $56.89.

Comerica Stock Performance

NYSE:CMA opened at $52.59 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 business has a fifty day simple moving average of $51.38 and a two-hundred day simple moving average of $49.45. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a market capitalization of $6.97 billion, a P/E ratio of 10.46 and a beta of 1.27.

Comerica (NYSE:CMA) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same period last year, the business posted $2.39 earnings per share. On average, analysts expect that Comerica will post 5.09 earnings per share for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.40%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Insiders Place Their Bets

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CMA. Raymond James & Associates increased its holdings in Comerica by 18.1% during the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock valued at $11,348,000 after purchasing an additional 31,125 shares during the period. NewEdge Wealth LLC purchased a new position in Comerica during the 4th quarter valued at about $10,068,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Comerica by 73.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider’s stock valued at $3,168,000 after purchasing an additional 23,947 shares during the period. LSV Asset Management increased its holdings in Comerica by 3.5% during the 3rd quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock valued at $28,211,000 after purchasing an additional 22,800 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Comerica by 607.3% during the 3rd quarter. Mackenzie Financial Corp now owns 303,143 shares of the financial services provider’s stock valued at $12,007,000 after purchasing an additional 260,286 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.