Comerica Incorporated (NYSE:CMA) Receives Consensus Recommendation of “Hold” from Analysts

Comerica Incorporated (NYSE:CMA) has earned an average rating of “Hold” from the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.57.

Several brokerages have commented on CMA. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Compass Point increased their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. UBS Group started coverage on Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price on the stock. Robert W. Baird raised their target price on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont raised its position in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Comerica during the fourth quarter valued at approximately $31,000. MCF Advisors LLC raised its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Comerica during the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC boosted its holdings in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Stock Down 0.1 %

NYSE CMA opened at $67.80 on Thursday. Comerica has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a market capitalization of $8.92 billion, a PE ratio of 13.51 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $64.37 and its 200 day moving average is $62.57.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the business earned $1.46 earnings per share. Sell-side analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Comerica declared that its board has authorized a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.