Comerica (NYSE:CMA) Stock Rating Lowered by Citigroup

Citigroup downgraded shares of Comerica (NYSE:CMA) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Citigroup currently has $56.00 price objective on the financial services provider’s stock, down from their prior price objective of $60.00.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research report on Wednesday, April 10th. They set a hold rating and a $59.00 price objective for the company. Evercore ISI upped their price objective on shares of Comerica from $55.00 to $58.00 and gave the company an in-line rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lowered their target price 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. DA Davidson reaffirmed a neutral rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada lifted their price objective on Comerica from $61.00 to $62.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Comerica presently has a consensus rating of Hold and an average price target of $56.89.

Comerica Trading Down 1.0 %

Shares of NYSE CMA opened at $53.35 on Monday. The firm has a 50 day moving average price of $52.06 and a two-hundred day moving average price of $50.36. The stock has a market cap of $7.07 billion, a P/E ratio of 10.61 and a beta of 1.27. Comerica has a 52-week low of $30.98 and a 52-week high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the prior year, the business posted $2.39 earnings per share. As a group, equities analysts forecast that Comerica will post 5.16 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Activity

In related news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Bridges sold 3,034 shares of the company’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 value of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management increased its stake in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Comerica in the fourth quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica during the 4th quarter valued at $36,000. Authentikos Wealth Advisory LLC purchased a new position in shares of Comerica during the 3rd quarter valued at $47,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Comerica during the 4th quarter worth $50,000. Hedge funds and other 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.