Comerica (NYSE:CMA) Given New $67.00 Price Target at Wells Fargo & Company

Comerica (NYSE:CMA) had its price target decreased by Wells Fargo & Company from $70.00 to $67.00 in a research report report published on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on CMA. JPMorgan Chase & Co. reduced their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Robert W. Baird lifted their price target on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Piper Sandler increased their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point lifted their target price on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods decreased their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.00.

Comerica Stock Down 1.5 %

CMA stock opened at $58.73 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock’s 50 day simple moving average is $63.07 and its 200 day simple moving average is $63.54. The company has a market cap of $7.71 billion, a P/E ratio of 11.70 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 firm earned $1.46 earnings per share. On average, research analysts expect that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.84%. Comerica’s payout ratio is presently 56.57%.

Institutional Trading of Comerica

A number of institutional investors have recently modified their holdings of CMA. Wedmont Private Capital raised its holdings in Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. grew its position in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 211 shares during the period. V Square Quantitative Management LLC lifted its holdings in Comerica by 36.7% during the 4th 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 in the last quarter. Finally, US Bancorp DE boosted its stake in Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 227 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.