Comerica (NYSE:CMA) Price Target Lowered to $55.00 at UBS Group

Comerica (NYSE:CMA) had its price objective cut by UBS Group from $59.00 to $55.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts have also issued reports on CMA. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $60.00 to $58.00 and set a market perform rating for the company in a research note on Monday, January 22nd. The Goldman Sachs Group upgraded shares of Comerica from a neutral rating to a buy rating and set a $70.50 price target for the company in a research note on Thursday, January 4th. Morgan Stanley increased their price target on shares of Comerica from $45.00 to $54.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Bank Of America (Bofa) increased their price target on shares of Comerica from $52.00 to $55.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Finally, Barclays raised their price objective on shares of Comerica from $49.00 to $59.00 and gave the company an underweight rating in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $58.02.

Comerica Stock Up 1.8 %

Shares of Comerica stock opened at $51.58 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.26. The company’s fifty day simple moving average is $51.38 and its two-hundred day simple moving average is $49.23. The company has a market cap of $6.83 billion, a P/E ratio of 10.25 and a beta of 1.27. Comerica has a 12-month low of $28.40 and a 12-month high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The business 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 period in the previous year, the firm earned $2.39 EPS. Research analysts anticipate that Comerica will post 5.09 EPS for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Thursday, March 14th. Comerica’s payout ratio is 56.46%.

Insider Buying and Selling

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’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 transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’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 transaction of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently modified their holdings of CMA. Private Advisor Group LLC raised its position in shares of Comerica by 9.3% during the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after buying an additional 568 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Comerica by 22.7% during the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after buying an additional 6,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Comerica by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock valued at $1,581,000 after buying an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Comerica by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Comerica by 119.2% during the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after buying an additional 4,165 shares during the last quarter. Institutional investors 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.