Comerica Incorporated (NYSE:CMA) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $75.59.
A number of equities analysts have commented on the stock. Truist Securities reduced their target price on shares of Comerica from $100.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Tuesday, September 7th. Odeon Capital Group downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Truist reduced their target price on shares of Comerica from $100.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 22nd. Finally, Stephens dropped their price target on Comerica from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, August 6th.
CMA traded up $1.27 on Friday, hitting $78.44. The company had a trading volume of 1,269,726 shares, compared to its average volume of 1,441,406. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 0.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a fifty day moving average price of $71.83 and a 200-day moving average price of $72.42. Comerica has a 12-month low of $35.82 and a 12-month high of $79.86.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.47%. Comerica’s payout ratio is 83.18%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in Comerica by 51.9% in the 2nd quarter. Lazard Asset Management LLC now owns 395 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 135 shares during the period. IFP Advisors Inc grew its stake in Comerica by 275.9% in the 2nd quarter. IFP Advisors Inc now owns 436 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 320 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Comerica in the 1st quarter valued at $31,000. Tobam purchased a new position in Comerica in the 1st quarter valued at $38,000. Finally, AGF Investments LLC lifted its holdings in Comerica by 69.9% in the 1st quarter. AGF Investments LLC now owns 576 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 237 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance and Other. The Commercial Bank segment involves in the middle market businesses, multinational corporations, and governmental 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, foreign exchange management services, and loan syndication services.
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