Comerica (NYSE:CMA) Sets New 52-Week High – Time to Buy?

Shares of Comerica Incorporated (NYSE:CMA) reached a new 52-week high during trading on Tuesday . The stock traded as high as $93.93 and last traded at $93.5310, with a volume of 1382730 shares changing hands. The stock had previously closed at $91.60.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMA. Citigroup increased their price target on Comerica from $82.00 to $88.00 and gave the company a “neutral” rating in a report on Tuesday, December 30th. Jefferies Financial Group upped their price objective on Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a research report on Tuesday, October 7th. Piper Sandler set a $82.00 price target on Comerica and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Evercore ISI set a $89.00 price target on shares of Comerica in a research report on Tuesday, January 6th. Three research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Comerica currently has an average rating of “Hold” and an average target price of $79.56.

Comerica Price Performance

The firm has a market cap of $11.95 billion, a PE ratio of 17.84 and a beta of 1.03. The firm’s fifty day simple moving average is $85.39 and its two-hundred day simple moving average is $75.76. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last issued its earnings results on Friday, January 23rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.20. Comerica had a return on equity of 10.69% and a net margin of 14.91%.During the same period in the previous year, the business earned $1.20 EPS. As a group, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Monday, December 15th were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. Comerica’s payout ratio is 54.20%.

Hedge Funds Weigh In On Comerica

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Comerica by 60.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,755 shares of the financial services provider’s stock worth $2,761,000 after purchasing an additional 17,552 shares during the last quarter. Empowered Funds LLC boosted its position in Comerica by 12.6% in the first quarter. Empowered Funds LLC now owns 6,464 shares of the financial services provider’s stock valued at $382,000 after buying an additional 724 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares during the last quarter. Voya Investment Management LLC grew its position in Comerica by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 16,553 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 451 shares during the period. Finally, Parallel Advisors LLC raised its position in Comerica by 19.6% during the second quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 189 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.