Comerica (NYSE:CMA) Price Target Cut to $75.00 by Analysts at Robert W. Baird

Comerica (NYSE:CMA - Free Report) had its price objective reduced by Robert W. Baird from $80.00 to $75.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Several other research firms also recently commented on CMA. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and lowered their price objective for the stock from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Truist Financial upgraded Comerica to a "hold" rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their target price on Comerica from $70.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Raymond James decreased their price objective on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group cut shares of Comerica from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Comerica has an average rating of "Hold" and an average target price of $62.84.

Comerica Stock Down 0.5 %

Shares of Comerica stock traded down $0.25 during trading on Tuesday, reaching $53.12. The company's stock had a trading volume of 725,340 shares, compared to its average volume of 2,218,706. The company has a 50-day simple moving average of $57.38 and a two-hundred day simple moving average of $62.67. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45. The company 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 quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share (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 the consensus estimate of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.35%. Comerica's payout ratio is currently 53.69%.

Institutional Trading of Comerica

A number of institutional investors have recently made changes to their positions in CMA. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Comerica during the fourth quarter worth about $31,000. MorganRosel Wealth Management LLC purchased a new stake in Comerica during the 1st quarter valued at about $33,000. MCF Advisors LLC raised its holdings in 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 acquiring an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica during the 3rd quarter worth approximately $42,000. 80.74% of the stock is 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.