Comerica (NYSE:CMA) Price Target Cut to $67.00 by Analysts at Raymond James

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

A number of other equities research analysts have also weighed in on CMA. Morgan Stanley decreased their target price 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. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $67.95.

Comerica Price Performance

CMA opened at $51.48 on Wednesday. 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 has a fifty day moving average of $62.28 and a 200 day moving average of $63.51. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market cap of $6.75 billion, a P/E ratio of 10.26 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently modified their holdings of the company. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica during the 4th quarter worth $31,000. MCF Advisors LLC grew its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica in the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC boosted its position in Comerica by 36.7% during the fourth 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 during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.