Comerica (NYSE:CMA) Price Target Lowered to $67.00 at Raymond James

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

A number of other research firms have also recently commented on CMA. Royal Bank of Canada reduced their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Compass Point raised their price objective on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Argus upgraded shares of Comerica to a “hold” rating in a research report on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. 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 presently has a consensus rating of “Hold” and a consensus price target of $67.95.

Comerica Stock Performance

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

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 previous year, the company earned $1.46 earnings per share. As a group, equities analysts predict that Comerica will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital boosted its stake in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. boosted its position in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 200 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 211 shares during the period. V Square Quantitative Management LLC raised its position in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 221 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares during the period. 80.74% of the stock is 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.