Raymond James Upgrades Comerica (NYSE:CMA) to “Outperform”

Raymond James upgraded shares of Comerica (NYSE:CMAGet 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 (NYSE:CMAGet Rating) last released its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period last year, the business posted $1.90 EPS. Analysts expect that Comerica will post 8.53 EPS for the current fiscal year.

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

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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.

Further Reading

Analyst Recommendations for Comerica (NYSE:CMA)

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