Comerica (NYSE:CMA) Lowered to “Equal Weight” Rating by Stephens

Stephens lowered shares of Comerica (NYSE:CMA) from an overweight rating to an equal weight rating in a report published on Monday morning, Marketbeat reports. Stephens currently has $64.00 price target on the financial services provider’s stock, down from their previous price target of $66.00.

Several other research analysts also recently commented on CMA. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Finally, UBS Group initiated coverage on Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price on the stock. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Comerica has a consensus rating of “Hold” and a consensus target price of $67.62.

Comerica Price Performance

NYSE CMA opened at $59.08 on Monday. The company has a market cap of $7.75 billion, a P/E ratio of 11.77 and a beta of 1.23. Comerica has a 1 year low of $45.32 and a 1 year 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. The company has a fifty day simple moving average of $62.93 and a 200 day simple moving average of $63.65.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, sell-side analysts predict that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.81%. Comerica’s dividend payout ratio is 56.57%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in Comerica by 11.5% in the third quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock worth $2,097,000 after purchasing an additional 3,599 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Comerica by 27.1% in the third quarter. Townsquare Capital LLC now owns 5,555 shares of the financial services provider’s stock valued at $333,000 after buying an additional 1,183 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of Comerica in the third quarter valued at about $720,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Comerica by 9.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,325 shares of the financial services provider’s stock worth $1,757,000 after buying an additional 2,586 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Comerica by 19.1% during the 3rd quarter. Captrust Financial Advisors now owns 14,085 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 2,263 shares during the last quarter. 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.