Comerica (NYSE:CMA) PT Lowered to $56.00 at Barclays

Comerica (NYSE:CMA) had its price target reduced by Barclays from $59.00 to $56.00 in a research note published on Monday, Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

Several other brokerages also recently commented on CMA. UBS Group cut their target price on Comerica from $59.00 to $55.00 and set a neutral rating for the company in a research note on Friday, April 19th. Stephens restated an overweight rating and issued a $64.00 target price on shares of Comerica in a research note on Tuesday, June 11th. Morgan Stanley reiterated an equal weight rating and set a $53.00 price target on shares of Comerica in a research report on Monday, April 22nd. Jefferies Financial Group dropped their price target on Comerica from $65.00 to $60.00 and set a buy rating for the company in a research report on Monday, April 8th. Finally, Robert W. Baird dropped their price target on Comerica from $72.00 to $68.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Comerica presently has a consensus rating of Hold and an average target price of $54.95.

Comerica Trading Down 1.6 %

Shares of CMA opened at $51.28 on Monday. The business has a 50-day moving average of $50.66 and a 200 day moving average of $51.66. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $58.50. The firm has a market cap of $6.80 billion, a P/E ratio of 10.19 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 0.96.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same quarter last year, the company earned $2.01 EPS. As a group, research analysts forecast that Comerica will post 4.98 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.54%. Comerica’s dividend payout ratio is 56.46%.

Hedge Funds Weigh In On Comerica

A number of large investors have recently bought and sold shares of the stock. Pitcairn Co. increased its stake in Comerica by 2.9% in the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 190 shares during the period. Bison Wealth LLC increased its stake in Comerica by 1.7% in the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 196 shares during the period. Fruth Investment Management increased its stake in Comerica by 1.6% in the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 200 shares during the period. Texas Permanent School Fund Corp increased its stake in Comerica by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 201 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Comerica by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 219 shares during the period. 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.