Comerica (NYSE:CMA) Price Target Raised to $94.00

Comerica (NYSE:CMA) had its target price increased by TD Cowen from $89.00 to $94.00 in a report published on Wednesday,Benzinga reports. TD Cowen currently has a hold rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Tuesday. Cantor Fitzgerald assumed coverage on shares of Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price objective for the company. Evercore ISI set a $89.00 target price on shares of Comerica in a research note on Tuesday. Truist Financial upped their price target on Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, Jefferies Financial Group increased their price target on Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.56.

Comerica Stock Performance

NYSE CMA opened at $91.53 on Wednesday. The company has a market cap of $11.70 billion, a PE ratio of 17.47 and a beta of 1.03. The stock’s 50 day simple moving average is $83.86 and its 200-day simple moving average is $74.26. Comerica has a 1-year low of $48.12 and a 1-year high of $93.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The firm had revenue of $824.00 million during the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. As a group, equities research analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Monday, December 15th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, December 15th. Comerica’s dividend payout ratio (DPR) is presently 54.20%.

Institutional Investors Weigh In On Comerica

Several large investors have recently bought and sold shares of CMA. Bank of New York Mellon Corp boosted its stake in shares of Comerica by 466.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,291,514 shares of the financial services provider’s stock valued at $499,615,000 after buying an additional 6,003,703 shares during the period. Dimensional Fund Advisors LP lifted its stake in Comerica by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 5,884,169 shares of the financial services provider’s stock worth $403,187,000 after acquiring an additional 53,243 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Comerica by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,741,310 shares of the financial services provider’s stock worth $282,819,000 after acquiring an additional 77,869 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Comerica by 1.2% in the 3rd quarter. Primecap Management Co. CA now owns 2,625,625 shares of the financial services provider’s stock valued at $179,908,000 after purchasing an additional 31,825 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Comerica by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,579,763 shares of the financial services provider’s stock valued at $153,905,000 after purchasing an additional 73,971 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.