Keefe, Bruyette & Woods Cuts Comerica (NYSE:CMA) Price Target to $77.00

Comerica (NYSE:CMA) had its target price lowered by Keefe, Bruyette & Woods from $82.00 to $77.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on CMA. Barclays increased their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. DA Davidson upped their price objective on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Truist Financial raised Comerica to a “hold” rating in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.33.

Comerica Stock Performance

Shares of CMA opened at $63.26 on Thursday. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 12.60 and a beta of 1.26. The business’s fifty day simple moving average is $65.56 and its two-hundred day simple moving average is $60.95. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 company earned $1.46 earnings per share. Research analysts anticipate that Comerica will post 5.36 earnings per share for the current fiscal year.

Comerica announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $2.84 annualized dividend and a yield of 4.49%. Comerica’s payout ratio is 56.57%.

Insider Buying and Selling at Comerica

In related news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Large investors have recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in Comerica during the fourth quarter valued at $31,000. V Square Quantitative Management LLC bought a new position in Comerica during the third quarter valued at $36,000. MCF Advisors LLC grew its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica in the 3rd quarter worth about $42,000. 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.