Comerica (NYSE:CMA) Price Target Cut to $77.00 by Analysts at Keefe, Bruyette & Woods

Comerica (NYSE:CMA) had its price objective decreased by Keefe, Bruyette & Woods from $82.00 to $77.00 in a research report report published on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on CMA. Morgan Stanley increased their price target on Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Compass Point boosted their target price on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.33.

Comerica Stock Performance

Shares of CMA stock opened at $62.48 on Thursday. The stock has a market cap of $8.22 billion, a P/E ratio of 15.62 and a beta of 1.26. The company has a fifty day moving average price of $65.68 and a two-hundred day moving average price of $60.79. Comerica has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.54% and a net margin of 11.17%. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities analysts predict that Comerica will post 5.38 EPS for the current year.

Comerica announced that its board has authorized a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.55%. Comerica’s payout ratio is 71.00%.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the transaction, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Trust Co. of Vermont grew its position in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Comerica during the fourth quarter valued at about $31,000. V Square Quantitative Management LLC bought a new stake in shares of Comerica during the third quarter worth about $36,000. MCF Advisors LLC increased its stake in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Comerica in the 3rd quarter valued at approximately $42,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.