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. The Retail Bank segment provides personal financial services, such as consumer lending, consumer deposit gathering, and mortgage loan origination. This segment also offers various consumer products that include deposit accounts, installment loans, credit cards, student loans, home equity lines of credit, and residential mortgage loans, as well as commercial products and services to micro-businesses. The Wealth Management segment provides products and services comprising fiduciary, private banking, retirement, investment management and advisory, and investment banking and brokerage services. This segment also sells annuity products, as well as life, disability, and long-term care insurance products. The Finance segment engages in the securities portfolio, and asset and liability management activities. It operates in Texas, California, Michigan, Arizona, Florida, Canada, and Mexico. The company was formerly known as DETROITBANK Corporation and changed its name to Comerica Incorporated in July 1982. Comerica Incorporated was founded in 1849 and is headquartered in Dallas, Texas.
Comerica Stock Up 1.6 %
Shares of CMA Stock opened at $85.66 on Monday. Comerica has a 52-week low of $70.31 and a 52-week high of $102.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.38 and a beta of 1.30. The firm's 50-day moving average is $76.78 and its 200-day moving average is $84.33.
Comerica (NYSE:CMA - Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same period in the previous year, the business earned $2.32 earnings per share. Sell-side analysts predict that Comerica will post 8.38 EPS for the current year.
Comerica Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a $0.68 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.18%. Comerica's dividend payout ratio is currently 39.71%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on CMA shares. Piper Sandler reduced their price target on shares of Comerica to $90.00 in a report on Friday, July 22nd. TheStreet cut Comerica from a "b" rating to a "c+" rating in a report on Friday, May 13th. Royal Bank of Canada cut their price target on Comerica from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Thursday, April 21st. JPMorgan Chase & Co. decreased their price objective on Comerica from $108.00 to $97.00 and set an "overweight" rating for the company in a report on Friday, July 1st. Finally, Citigroup lifted their target price on Comerica to $95.00 in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Comerica presently has an average rating of "Moderate Buy" and an average price target of $95.45.