The Goldman Sachs Group Lowers Comerica (NYSE:CMA) Price Target to $57.00

Comerica (NYSE:CMA - Free Report) had its price target trimmed by The Goldman Sachs Group from $66.00 to $57.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider's stock.

A number of other research firms have also issued reports on CMA. Barclays increased their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Morgan Stanley lowered 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 research report on Monday, April 7th. Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and reduced their price target for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Argus upgraded Comerica to a "hold" rating in a report on Friday, January 31st. Finally, DA Davidson reduced their target price 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 research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $62.84.

Comerica Price Performance

CMA stock traded down $0.25 on Tuesday, hitting $53.12. 725,340 shares of the company's stock traded hands, compared to its average volume of 2,218,706. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 10.58 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $57.38 and a 200-day moving average of $62.67. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45.

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

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. Comerica's dividend payout ratio is 53.69%.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont grew its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the fourth quarter worth $31,000. MorganRosel Wealth Management LLC acquired a new stake in Comerica during the first quarter worth $33,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter valued at about $42,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.