Raymond James upgraded shares of Comerica (NYSE:CMA – Get Rating) from a market perform rating to an outperform rating in a research report report published on Monday morning, MarketBeat reports. Raymond James currently has $85.00 price objective on the financial services provider’s stock.
CMA has been the subject of a number of other research reports. Royal Bank of Canada cut their price target on shares of Comerica from $95.00 to $90.00 and set an outperform rating for the company in a report on Thursday, October 20th. Piper Sandler cut their price target on shares of Comerica to $85.00 in a report on Thursday, October 20th. Wells Fargo & Company upgraded shares of Comerica from a market perform rating to an outperform rating and set a $85.00 price target for the company in a report on Monday. StockNews.com initiated coverage on shares of Comerica in a report on Wednesday, October 12th. They set a hold rating for the company. Finally, Wedbush cut their price target on shares of Comerica from $95.00 to $84.00 and set an outperform rating for the company in a report on Thursday, October 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Comerica has a consensus rating of Moderate Buy and a consensus target price of $90.38.
Comerica Trading Down 0.5 %
CMA opened at $71.75 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50 day simple moving average is $71.83 and its two-hundred day simple moving average is $76.27. Comerica has a 1-year low of $64.11 and a 1-year high of $102.09. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20.
Comerica Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.79%. Comerica’s dividend payout ratio (DPR) is 36.03%.
Hedge Funds Weigh In On Comerica
Institutional investors have recently modified their holdings of the business. Ronald Blue Trust Inc. acquired a new position in shares of Comerica in the second quarter worth $27,000. Quent Capital LLC grew its stake in shares of Comerica by 292.3% in the first quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 228 shares in the last quarter. Tcwp LLC acquired a new position in shares of Comerica in the first quarter worth $30,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Comerica in the first quarter worth $31,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Comerica in the second quarter worth $34,000. Institutional investors and hedge funds own 82.56% of the company’s stock.
Comerica Company Profile
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering 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.
- Get a free copy of the StockNews.com research report on Comerica (CMA)
- Is the 60/40 Portfolio Mix Still in Vogue?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Institutional Support for Analog Devices Remains High
- Three CBD Stocks to Dominate a Budding Industry
- Microsoft Shares: Is it Time to Back Up the Truck?
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.