Comerica (NYSE:CMA) Receives “Overweight” Rating from Stephens

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

A number of other analysts also recently commented on CMA. The Goldman Sachs Group raised shares of Comerica from a neutral rating to a buy rating and set a $70.50 price objective on the stock in a report on Thursday, January 4th. Bank Of America (Bofa) boosted their price objective on shares of Comerica from $52.00 to $55.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Barclays boosted their price objective on shares of Comerica from $49.00 to $59.00 and gave the stock an underweight rating in a report on Tuesday, January 2nd. Royal Bank of Canada decreased their price objective on shares of Comerica from $63.00 to $61.00 and set an outperform rating on the stock in a report on Tuesday, April 9th. Finally, TheStreet upgraded shares of Comerica from a c+ rating to a b- rating in a research report on Tuesday, December 26th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Comerica has an average rating of Hold and a consensus price target of $56.89.

Comerica Stock Up 2.0 %

Shares of NYSE:CMA opened at $52.59 on Friday. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 10.46 and a beta of 1.27. The firm’s 50-day simple moving average is $51.38 and its 200-day simple moving average is $49.45. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica has a fifty-two week low of $28.40 and a fifty-two week high of $57.39.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion for 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 previous year, the firm earned $2.39 earnings per share. As a group, equities research analysts predict that Comerica will post 5.09 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. Stockholders of record on Friday, June 14th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.40%. Comerica’s dividend payout ratio is presently 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 completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’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 transaction of $88,298.24. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Comerica by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Comerica by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after buying an additional 48,526 shares during the period. Invesco Ltd. grew its stake in Comerica by 4.4% during the third quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock worth $128,704,000 after buying an additional 130,997 shares during the period. North Reef Capital Management LP grew its stake in Comerica by 43.0% during the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after buying an additional 865,870 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Comerica by 60.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after buying an additional 984,391 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.