Comerica (NYSE:CMA) Given New $67.00 Price Target at Raymond James

Comerica (NYSE:CMA) had its price target decreased by Raymond James from $72.00 to $67.00 in a research report report published on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird upped their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Wells Fargo & Company lowered their price objective on Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods cut their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley lowered their price target on Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $67.95.

Comerica Stock Up 1.9 %

Shares of NYSE:CMA opened at $59.30 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45. The business’s 50 day simple moving average is $62.70 and its two-hundred day simple moving average is $63.62. The firm has a market cap of $7.78 billion, a P/E ratio of 11.81 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its 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 return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the firm earned $1.46 earnings per share. As a group, research analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.79%. Comerica’s dividend payout ratio is presently 56.57%.

Institutional Trading of Comerica

Institutional investors have recently modified their holdings of the business. PL Capital Advisors LLC raised its holdings in Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock valued at $109,981,000 after acquiring an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Comerica during the 4th quarter valued at $82,419,000. Norges Bank purchased a new stake in Comerica during the 4th quarter worth about $64,150,000. North Reef Capital Management LP boosted its stake in Comerica by 15.7% in the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after purchasing an additional 550,000 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Comerica by 548.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider’s stock valued at $39,732,000 after buying an additional 543,400 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.