Comerica (NYSE:CMA) PT Lowered to $78.00 at BMO Capital Markets

Comerica (NYSE:CMA) had its price objective decreased by BMO Capital Markets to $78.00 in a research note released on Thursday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the financial services provider’s stock.

CMA has been the topic of a number of other research reports. DA Davidson cut their price objective on shares of Comerica from $87.00 to $85.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Citigroup upgraded shares of Infosys from a neutral rating to a buy rating in a research note on Friday, July 12th. Bank of America set a $97.00 price objective on shares of Merck & Co., Inc. and gave the stock a buy rating in a research note on Thursday, July 11th. Jefferies Financial Group set a $158.00 price objective on shares of HCA Healthcare and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Piper Jaffray Companies set a $29.00 price objective on shares of Bausch Health Companies and gave the stock a buy rating in a research note on Tuesday, June 11th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. Comerica has an average rating of Hold and a consensus price target of $86.33.

NYSE CMA opened at $70.67 on Thursday. The business has a fifty day moving average of $70.93. The stock has a market capitalization of $10.89 billion, a PE ratio of 9.03, a P/E/G ratio of 1.29 and a beta of 1.44. Comerica has a 12-month low of $63.69 and a 12-month high of $100.64. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.90.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). The business had revenue of $853.00 million during the quarter, compared to analyst estimates of $859.09 million. Comerica had a return on equity of 16.92% and a net margin of 33.29%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 EPS. On average, sell-side analysts forecast that Comerica will post 8.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.67 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.68 annualized dividend and a yield of 3.79%. Comerica’s dividend payout ratio is presently 37.02%.

In related news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.98% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in shares of Comerica by 2.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,159 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 316 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Comerica by 11.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,003,942 shares of the financial services provider’s stock valued at $68,959,000 after purchasing an additional 100,589 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Comerica by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock valued at $152,960,000 after purchasing an additional 76,845 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Comerica by 24.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,695 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 334 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Comerica by 19.4% in the 4th quarter. Suntrust Banks Inc. now owns 13,863 shares of the financial services provider’s stock valued at $953,000 after purchasing an additional 2,256 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.

Further Reading: How To Calculate Debt-to-Equity Ratio

The Fly

Analyst Recommendations for Comerica (NYSE:CMA)

Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.