Comerica Incorporated (NYSE:CMA) Declares Quarterly Dividend of $0.71

Comerica Incorporated (NYSE:CMA - Get Free Report) declared a quarterly dividend on Monday, April 28th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.71 per share by the financial services provider on Friday, August 1st. This represents a $2.84 annualized dividend and a yield of 5.27%.

Comerica has raised its dividend by an average of 1.5% per year over the last three years. Comerica has a payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Comerica to earn $5.80 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 49.0%.

Comerica Price Performance

Shares of NYSE CMA traded up $0.78 during mid-day trading on Monday, reaching $53.89. The company had a trading volume of 1,256,021 shares, compared to its average volume of 2,214,855. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 10.73 and a beta of 0.96. The business's 50-day simple moving average is $57.10 and its 200 day simple moving average is $62.65. Comerica has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the firm earned $1.29 EPS. On average, research analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMA. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. The Goldman Sachs Group decreased their target price on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley cut shares of Comerica from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Truist Financial lowered their price objective on shares of Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, DA Davidson dropped their price objective on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $62.84.

Comerica Company Profile

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.

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