Comerica Incorporated (NYSE:CMA) declared a quarterly dividend on Tuesday, February 23rd, RTT News reports. Investors of record on Monday, March 15th will be paid a dividend of 0.68 per share by the financial services provider on Thursday, April 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.91%.
Comerica has increased its dividend by 149.5% over the last three years and has raised its dividend every year for the last 9 years.
Comerica stock traded up $1.41 during trading hours on Tuesday, reaching $69.55. The company had a trading volume of 48,479 shares, compared to its average volume of 1,332,309. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average price of $62.07 and a 200 day moving average price of $49.74. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 18.95 and a beta of 1.67. Comerica has a 12-month low of $24.28 and a 12-month high of $69.26.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Monday, January 18th. The financial services provider reported $1.49 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same period last year, the company posted $1.85 EPS. As a group, research analysts expect that Comerica will post 2.98 earnings per share for the current year.
In other Comerica news, EVP Cassandra M. Mckinney sold 4,643 shares of the company's stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $62.23, for a total transaction of $288,933.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Compass Point lowered Comerica from a "neutral" rating to a "sell" rating and lifted their price target for the company from $44.00 to $46.00 in a research report on Tuesday, November 10th. Robert W. Baird lowered Comerica from an "outperform" rating to a "neutral" rating and set a $60.00 price target on the stock. in a research report on Wednesday, January 13th. Barclays lifted their price target on Comerica from $43.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, January 4th. Morgan Stanley lifted their price target on Comerica from $59.00 to $63.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 27th. Finally, Raymond James boosted their price target on Comerica from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 20th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus price target of $48.71.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.
Featured Story: What is a recession?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
20 Stocks Analysts Can't Stop Upgrading
As you know, a single upgrade from a broker probably won't be a major game-changer for any single stock. But, what if there was a stock that had been upgraded by more than 10 different brokers during the last 90 days?
If ten different brokers have all upgraded a stock within the last few months and the price hasn't skyrocketed (at least, not yet), you would want to take a pretty hard look at it.
It turns out that there are actually 20 different companies that have been upgraded or had their price target increased at least ten times during the last ninety days by more than 10 different brokers. This slideshow lists those companies.
View the "20 Stocks Analysts Can't Stop Upgrading".