Comerica (NYSE:CMA) Downgraded to “Equal Weight” Rating by Stephens

Stephens cut shares of Comerica (NYSE:CMA) from an overweight rating to an equal weight rating in a research note published on Monday morning, MarketBeat reports. Stephens currently has $64.00 target price on the financial services provider’s stock, down from their prior target price of $66.00.

Several other equities analysts have also weighed in on CMA. Compass Point increased their price objective on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson cut their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.62.

Comerica Trading Up 0.6 %

CMA stock opened at $59.08 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a market cap of $7.75 billion, a P/E ratio of 11.77 and a beta of 1.23. The business has a fifty day moving average of $62.93 and a 200-day moving average of $63.65.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 period in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts expect that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.81%. Comerica’s dividend payout ratio is currently 56.57%.

Hedge Funds Weigh In On Comerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Comerica by 11.5% in the third quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 3,599 shares in the last quarter. Townsquare Capital LLC raised its position in Comerica by 27.1% in the 3rd quarter. Townsquare Capital LLC now owns 5,555 shares of the financial services provider’s stock valued at $333,000 after buying an additional 1,183 shares during the last quarter. Bridgewater Associates LP acquired a new stake in Comerica in the 3rd quarter valued at approximately $720,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Comerica by 9.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,325 shares of the financial services provider’s stock valued at $1,757,000 after acquiring an additional 2,586 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Comerica by 19.1% during the 3rd quarter. Captrust Financial Advisors now owns 14,085 shares of the financial services provider’s stock worth $844,000 after acquiring an additional 2,263 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.