Comerica’s (CMA) “Market Perform” Rating Reiterated at Raymond James Financial

Raymond James Financial reissued their market perform rating on shares of Comerica (NYSE:CMA) in a research note published on Tuesday, MarketBeat.com reports.

Other equities analysts have also issued reports about the company. Jefferies Financial Group started coverage on Comerica in a report on Wednesday, May 21st. They issued an “underperform” rating and a $47.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird cut their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Comerica from $52.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.30.

Comerica Price Performance

Shares of NYSE:CMA opened at $64.00 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $8.41 billion, a PE ratio of 12.10 and a beta of 0.92. Comerica has a twelve month low of $48.12 and a twelve month high of $73.45. The company has a 50-day moving average price of $58.12 and a two-hundred day moving average price of $59.55.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same period last year, the company earned $1.29 earnings per share. Equities analysts forecast that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.44%. Comerica’s payout ratio is 53.69%.

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently modified their holdings of the stock. MorganRosel Wealth Management LLC bought a new stake in shares of Comerica in the 1st quarter valued at about $33,000. Gen Wealth Partners Inc bought a new stake in Comerica during the 1st quarter valued at $34,000. Geneos Wealth Management Inc. raised its holdings in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after buying an additional 176 shares during the last quarter. Quarry LP raised its holdings in Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after buying an additional 523 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica during the 1st quarter valued at $55,000. Institutional investors own 80.74% of the company’s stock.

About Comerica

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.