Comerica Incorporated (NYSE:CMA) announced a quarterly dividend on Tuesday, November 5th, RTT News reports. Investors of record on Friday, December 13th will be paid a dividend of 0.67 per share by the financial services provider on Wednesday, January 1st. This represents a $2.68 annualized dividend and a yield of 3.77%.
CMA stock traded up $1.08 during trading on Tuesday, hitting $71.17. 1,402,395 shares of the stock traded hands, compared to its average volume of 1,881,907. Comerica has a 1 year low of $58.54 and a 1 year high of $88.96. The firm’s 50 day moving average is $65.44 and its two-hundred day moving average is $68.77. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.54 and a beta of 1.54. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.06. Comerica had a net margin of 32.11% and a return on equity of 16.82%. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $836.10 million. During the same period in the prior year, the firm posted $1.86 EPS. Comerica’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Comerica will post 7.72 EPS for the current fiscal year.
Several analysts recently commented on the stock. Piper Jaffray Companies downgraded shares of Comerica from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $74.50 to $72.50 in a research report on Thursday, October 17th. UBS Group cut their price objective on shares of Comerica from $73.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Morgan Stanley cut their price objective on shares of Comerica from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. DA Davidson cut their price objective on shares of Comerica from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Finally, Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, July 8th. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.75.
In other Comerica news, Director Reginald M. Turner, Jr. sold 2,495 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $66.66, for a total transaction of $166,316.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.98% of the stock is currently owned by corporate insiders.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business 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 middle market businesses, multinational corporations, and governmental entities.
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