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

Comerica Incorporated (NYSE:CMA - Get Free Report) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Friday, June 14th will be given a dividend of 0.71 per share by the financial services provider on Monday, July 1st. This represents a $2.84 annualized dividend and a yield of 5.40%.

Comerica has raised its dividend payment by an average of 1.5% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Comerica has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Comerica to earn $6.11 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 46.5%.

Comerica Stock Performance

Shares of NYSE CMA traded up $1.03 during trading on Monday, reaching $52.59. 2,575,684 shares of the company traded hands, compared to its average volume of 2,128,258. The firm has a 50 day simple moving average of $51.38 and a 200-day simple moving average of $49.45. Comerica has a 52-week low of $28.40 and a 52-week high of $57.39. The stock has a market capitalization of $6.97 billion, a PE ratio of 10.46 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter last year, the company posted $2.39 earnings per share. Equities research analysts anticipate that Comerica will post 5.09 earnings per share for the current year.

Insider Transactions at Comerica

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares of the company's stock, valued at $454,276.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the company's stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company's stock, valued at $454,276.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company's stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent research reports. Barclays increased their target price on Comerica from $49.00 to $59.00 and gave the company an "underweight" rating in a report on Tuesday, January 2nd. Argus downgraded shares of Comerica from a "buy" rating to a "hold" rating in a report on Monday, January 29th. Keefe, Bruyette & Woods reduced their target price on shares of Comerica from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a research report on Wednesday, April 10th. They issued a "hold" rating and a $59.00 price target on the stock. Finally, Morgan Stanley reissued an "equal weight" rating and set a $53.00 price objective on shares of Comerica in a research report on Monday. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.89.

About Comerica

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.