Comerica (NYSE:CMA) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Comerica (NYSE:CMA) in a research note published on Monday morning, Benzinga reports. The firm currently has a $53.00 price objective on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. Truist Financial dropped their target price on shares of Comerica from $62.00 to $60.00 and set a buy rating for the company in a research report on Monday. UBS Group lowered their price objective on shares of Comerica from $59.00 to $55.00 and set a neutral rating for the company in a research report on Friday, April 19th. Argus downgraded shares of Comerica from a buy rating to a hold rating in a research report on Monday, January 29th. TheStreet raised shares of Comerica from a c+ rating to a b- rating in a research report on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $60.00 to $58.00 and set a market perform rating for the company in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $56.89.

Comerica Stock Down 1.5 %

CMA opened at $52.16 on Monday. The firm has a 50 day moving average price of $51.51 and a 200 day moving average price of $49.58. The company has a market cap of $6.91 billion, a PE ratio of 10.37 and a beta of 1.27. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95.

Comerica (NYSE:CMA) last posted 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. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the prior year, the company earned $2.39 EPS. Sell-side analysts expect that Comerica will post 5.15 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 5.44%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was 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 in the company, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was 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 in the company, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMA. Spire Wealth Management increased its holdings in shares of Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Comerica during the fourth quarter valued at $36,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Comerica during the fourth quarter valued at $36,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Comerica during the third quarter valued at $47,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Comerica during the fourth quarter valued at $50,000. 80.74% of the stock is owned by institutional investors and hedge funds.

About Comerica

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.