Comerica Incorporated (NYSE:CMA) shares traded 2.28% higher at $52.93 on Wall Street last session.
In accordance with the data, 26 analysts cover Comerica Incorporated (NYSE:CMA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $45.00, we find $51.50. Given the previous closing price of $51.75, this indicates a potential downside of -0.48 percent. CMA stock price is now 28.09% away from the 50-day moving average and -7.73% away from the 200-day moving average. The market capitalization of the company currently stands at $7.14B.
It has been rated a hold by 9 analysts and a buy by 14. Brokers who have rated the stock have averaged $53.28 as their price target over the next twelve months.
With the price target maintained at $47.24, Odeon recently Upgraded its rating from Hold to Buy for Comerica Incorporated (NYSE: CMA).
In other news, McKinney Cassandra M., EVP sold 362 shares of the company’s stock on Jan 31. The stock was sold for $26,316 at an average price of $72.70. Upon completion of the transaction, the EVP now directly owns 6,250 shares in the company, valued at $0.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 27, EVP McKinney Cassandra M. sold 3,262 shares of the business’s stock. A total of $237,358 was realized by selling the stock at an average price of $72.76. This leaves the insider owning 6,825 shares of the company worth $0.36 million. Insiders disposed of 105,035 shares of company stock worth roughly $5.56 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CMA stock. A new stake in Comerica Incorporated shares was purchased by HOLOCENE ADVISORS, LP during the first quarter worth $59,545,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $39,929,000 in shares of CMA during the first quarter. In the first quarter, NORTH REEF CAPITAL MANAGEMENT LP acquired a new stake in Comerica Incorporated valued at approximately $27,259,000. PZENA INVESTMENT MANAGEMENT LLC acquired a new stake in CMA for approximately $22,474,000. TWINBEECH CAPITAL LP purchased a new stake in CMA valued at around $18,192,000 in the second quarter. In total, there are 760 active investors with 84.90% ownership of the company’s stock.
Comerica Incorporated (NYSE: CMA) opened at $51.59 on Thursday. During the past 12 months, Comerica Incorporated has had a low of $28.40 and a high of $87.02. The fifty day moving average price for CMA is $41.66 and a two-hundred day moving average price translates $57.27 for the stock.
The latest earnings results from Comerica Incorporated (NYSE: CMA) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $2.39, beating analysts’ expectations of $2.29 by 0.1. This compares to $1.37 EPS in the same period last year. The net profit margin was 39.90% and return on equity was 23.80% for CMA. The company reported revenue of $949.0 million for the quarter, compared to $469.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 102.35 percent. For the current quarter, analysts expect CMA to generate $902.75M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/01/2023. Investors who held shares on 06/15/2023 were paid a $0.71 dividend. On an annualized basis, this represents a $2.84 dividend and a 5.37% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, CMA is presently at 28.70%.
Comerica Incorporated(CMA) 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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities. The Retail Bank segment provides personal financial services, such as consumer lending, consumer deposit gathering, and mortgage loan origination; and various consumer products that include deposit accounts, installment loans, credit cards, student loans, home equity lines of credit, and residential mortgage loans, as well as commercial products and services to micro-businesses. The Wealth Management segment offers products and services comprising fiduciary, private banking, retirement, investment management and advisory, and investment banking and brokerage services; and sells annuity products, as well as life, disability, and long-term care insurance products. The Finance segment engages in the securities portfolio, and asset and liability management activities. It operates in Texas, California, Michigan, Arizona, Florida, Canada, and Mexico. The company was formerly known as DETROITBANK Corporation and changed its name to Comerica Incorporated in July 1982. Comerica Incorporated was founded in 1849 and is headquartered in Dallas, Texas.
