Comerica (NYSE:CMA) Earns “Neutral” Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Comerica (NYSE:CMA) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $55.00 target price on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Evercore ISI reduced their price objective on shares of Comerica from $58.00 to $54.00 and set an in-line rating on the stock in a research note on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price objective on Comerica from $62.00 to $57.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Raymond James upgraded Comerica from a market perform rating to an outperform rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. Barclays reduced their target price on Comerica from $59.00 to $56.00 and set an underweight rating on the stock in a report on Monday, July 22nd. Finally, StockNews.com downgraded shares of Comerica from a hold rating to a sell rating in a research report on Friday, September 6th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of Hold and a consensus target price of $55.73.

Comerica Trading Up 1.4 %

CMA stock opened at $57.51 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica has a twelve month low of $37.40 and a twelve month high of $58.50. The company has a market cap of $7.63 billion, a P/E ratio of 11.43 and a beta of 1.23. The business has a fifty day moving average of $54.55 and a 200-day moving average of $52.29.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the business posted $2.01 EPS. As a group, equities research analysts expect that Comerica will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.94%. Comerica’s dividend payout ratio is currently 56.46%.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in 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 valued at $25,000 after buying an additional 235 shares during the last quarter. Family Firm Inc. bought a new stake in Comerica during the second quarter worth about $37,000. UMB Bank n.a. boosted its position in 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 purchasing an additional 208 shares during the last quarter. Versant Capital Management Inc grew its stake in 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 purchasing an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Company Profile

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.