Investment Analysts’ Weekly Ratings Updates for Comerica (CMA)

A number of research firms have changed their ratings and price targets for Comerica (NYSE: CMA):

• 7/22/2024 – Comerica had its price target lowered by analysts at Barclays PLC from $59.00 to $56.00. They now have an “underweight” rating on the stock.
• 7/22/2024 – Comerica had its price target lowered by analysts at Royal Bank of Canada from $58.00 to $56.00. They now have an “outperform” rating on the stock.
• 7/22/2024 – Comerica had its price target raised by analysts at Piper Sandler from $51.00 to $52.00. They now have a “neutral” rating on the stock.
• 7/22/2024 – Comerica was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 7/22/2024 – Comerica was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $53.00 price target on the stock, down previously from $55.00.
• 7/22/2024 – Comerica had its price target lowered by analysts at Morgan Stanley from $53.00 to $50.00. They now have an “equal weight” rating on the stock.
• 7/9/2024 – Comerica had its price target lowered by analysts at Keefe, Bruyette & Woods from $58.00 to $56.00. They now have a “market perform” rating on the stock.
• 7/2/2024 – Comerica was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $60.00 price target on the stock.
• 6/27/2024 – Comerica had its price target lowered by analysts at JPMorgan Chase & Co. from $62.00 to $57.00. They now have a “neutral” rating on the stock.
• 6/25/2024 – Comerica had its price target lowered by analysts at Evercore ISI from $58.00 to $54.00. They now have an “in-line” rating on the stock.
• 6/20/2024 – Comerica had its price target lowered by analysts at Robert W. Baird from $72.00 to $68.00. They now have an “outperform” rating on the stock.
• 6/13/2024 – Comerica had its price target lowered by analysts at Truist Financial Co. from $60.00 to $55.00. They now have a “buy” rating on the stock.
• 6/12/2024 – Comerica had its price target lowered by analysts at Wells Fargo & Company from $48.00 to $45.00. They now have an “underweight” rating on the stock.
• 6/12/2024 – Comerica had its price target lowered by analysts at Royal Bank of Canada from $62.00 to $58.00. They now have an “outperform” rating on the stock.
• 6/11/2024 – Comerica had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $64.00 price target on the stock.
• 6/11/2024 – Comerica had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $58.00 price target on the stock.
• 6/4/2024 – Comerica had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $69.00 to $62.00. They now have a “buy” rating on the stock.

Comerica Trading Up 1.0 %

Shares of NYSE:CMA traded up $0.51 during trading on Tuesday, reaching $53.71. The company’s stock had a trading volume of 1,830,424 shares, compared to its average volume of 2,255,488. The stock has a market capitalization of $7.12 billion, a PE ratio of 10.68 and a beta of 1.25. Comerica Incorporated has a 12 month low of $37.40 and a 12 month high of $58.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23. The firm’s 50 day simple moving average is $50.59 and its two-hundred day simple moving average is $51.57.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same quarter in the previous year, the company posted $2.01 EPS. On average, research analysts predict that Comerica Incorporated will post 5.03 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. 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 worth $25,000 after buying an additional 235 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica in the 4th quarter worth $36,000. Family Firm Inc. purchased a new position in shares of Comerica during the second quarter valued at $37,000. UMB Bank n.a. increased its stake in shares of Comerica by 39.3% during the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.